EU provides €19bn to tackle unemployment - by James Hall
The Commission said that the European Social Fund expenditure will "support people hit by the economic crisis". Usually, the EU requires member countries getting social funds to match these with money from their own funds. However José Manuel Barroso, the European Commission President, said that the recession was so severe that the EU would forgo the rule.The EU also said that it would also "reallocate" €100m from the existing EU budget to go towards a new microcredit facility which will help people wanting to start up businesses. It said it would also commit to providing five million apprenticeships across the EU and a raft of other services.The funds come ahead of four days of voting for a new European Parliament, when the spotlight will focus on voter turnout which has been sinking in EU elections — from 62pc in 1979 to under 46pc in 2004.
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