Restrictions lifted on €375m EU fund

IRELAND can now draw money from the €375 million European Social Fund for training and education without having to put in matching funds this year and next, the European Commission announced.

The commission also wants to set up a European micro-finance facility to help companies with fewer than 10 employees and an annual turnover of less than €2m together with co-operatives and social enterprises. It’s aimed at helping those not able to find funds to set up a business as well as those facing a credit crunch.

These are some of a range of strategies to help save and create jobs that include providing at least five million apprenticeships across the EU and encouraging people to travel for work by guaranteeing their unemployment benefits for at least six months.