Casa presents globalisation fund report to CMTU

MEP David Casa MEP presented the European Parliament’s approved report on the European Globalisation Adjustment Fund to the president of the Confederation of Malta Trade Unions (CMTU), William Portelli, earlier this afternoon.

The European Globalisation Adjustment Fund seeks to provide effective support, including financial aid, to workers who are made redundant. Among the new improvements to the Fund is an increase in its financial allocation, from €500 million to €1 billion and the fact that redundant workers will now receive financial aid within a shorter time frame.

Speaking about the fund, Mr Casa stressed that the updates favoured Malta since funding shall now be made available to companies which were forced to lay off 500 workers or more, as compared to the previous figure of 1,000 employees.

"Although I auger that this fund will never again be needed by a Maltese company, it has been utilised in the past,” he said, continuing that, “it is therefore essential that large businesses in Malta have their minds at rest that a safety net exists if such problems were to arise as a result of the prevailing economic crisis”.

David Casa said the report on the fund reaffirmed the European Parliament’s commitment towards the social needs of workers. “Let’s not forget the human face of the ongoing crisis,” he argued.