EU cash pool to fight unemployment | Shanghai Daily

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EU cash pool to fight unemployment

THE European Commission is making available 19 billion euros (US$27 billion) for EU governments to help combat unemployment this year and next year.

It says governments can use the money to combat joblessness, create jobs or retrain workers. Normally, money from the EU social fund requires matched spending by EU governments, but not in this case. European Commission President Jose Manuel Barroso said yesterday that because the economic crisis is so severe, member states will not be asked to match the aid.



 

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