Eight EU member-states to receive financial aid in order to tackle youth unemployment

Eight EU member-states including Italy, Spain, Greece, Ireland, Portugal, Latvia, Lithuania and Slovakia will receive relief financial aid under European Social Fund (ESF) programmes. This is a result of the record levels of youth unemployment in these countries, announced during a press briefing of the European Commission (EC) in Brussels EC Spokeswoman Pia Ahrenkilde. According to her, the measures will apply to the second half of the programming period 2007-2013. Bulgaria was not among the EU member-states on this list because our country ranks 10th in the European Union in terms of youth unemployment, explained to Klassa daily the MEP Ivaylo Kalfin. This was also confirmed by NSI (National Statistical Institute) data. Kalfin reported that the 8 selected countries have received the privilege to co-finance with 5% the projects granted by the European Social Fund, rather than with 20%, as is the case with other programmes.

There is confusion about two parallel initiatives of the European Commission (EC), commented for Klassa daily, Tomislav Donchev, Minister of EU Funds Management. According to him, the first EC initiative refers to a 5% reduction of co-financing for countries experiencing severe budgetary difficulties. There have been ongoing debates on that initiative since the middle of last year. The second initiative of Brussels, which was developed in the last few days, refers to targeted investments for tackling youth unemployment, as well as aiding small and medium-sized enterprises. The Minister of EU Funds Management quoted the comments of EC President Jose Manuel Barroso that some €82 bn have been saved under the EU's structural funds with the intent of creating jobs and aiding small and medium-sized enterprises.

"Bulgaria will do everything possible to take advantage of this new initiative, while directing EU grants towards professional training and re-qualification," stated Donchev. However, according to him, the EC itself is not clear yet on the exact scheme for dealing with youth unemployment.

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