Financial Times FT.com

Brussels

EU globalisation fund questioned

By George Parker in Brussels

Published: May 27 2007 22:02 | Last updated: May 27 2007 22:02

A contentious €500m ($672m) European Union “shock ab­sorber” fund to help workers who lose their jobs to global competition has received just two requests for aid since its launch, raising questions about the extent of “de­localisation” of European jobs.

The low level of take-up from the fund, created at the end of last year, has prompted claims from liberals in the European Commission that the threat from the offshoring of jobs to Asia and elsewhere has been exaggerated.

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