EU globalisation plan to get 50,000 year back to work

Up to 50,000 people a year in the European Union could benefit from a back-to-work initiative worth an annual 500 million euros ($600 million) announced on Wednesday by the European Commission, the EU's executive arm.
As part of a plan to deal with the effects of globalisation, EU leaders agreed in December to set up a "European globalisation adjustment fund" in a bid to help those who lost their jobs through restructuring or relocation.
The money will not be used to help companies deemed uncompetitive, nor will it benefit farmers or workers affected by reform in the 25-country EU's agricultural sector. "This fund is for what we see as unforeseeable events," EU Employment Commissioner Vladimir Spidla told a briefing.