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European Parliament Approves Financial Aid for 550 Redundant Greek Journalists

The European Parliament on Wednesday approved an economic aid package worth €2,308,500 to 550 redundant media workers in Greece.

In a statement, the parliament said “550 media workers dismissed by three publishing companies will receive EU aid worth €2,308,500 [$2,628,402] to help them find new jobs”.

The application for the aid was submitted by Greek authorities on May 22.
The report says that “Between 2011 and 2017, newspapers sales decreased from 144 million copies in 2011 to 57 million in 2017 and magazines sales fell from 60 million copies to 23 million. Between 2005 and 2014, the publishing sector’s turnover fell by 56,4 percent. The turnover has further declined by 14,3 percent in 2015, 8,3 percent in 2016 and 19,5 percent in 2017.

The Committee on Budget report says that “The redundancies that occurred in three enterprises operating in the Greek publishing sector are expected to have a significant adverse effect on the local economy, and that the impact of the layoffs is linked to the difficulties of redeployment due to the scarcity of jobs and to the high number of job seekers.”

The aid will be co-financed by the European Globalisation Adjustment Fund (EGF). The aid will help the 550 workers find new jobs by providing them with occupational guidance, training, retraining and vocational training, specific advice towards entrepreneurship, contributions to business start-ups and a variety of allowances.

To take effect, the aid also needs to be approved by a plenary vote in the parliament slated for November 29 and by the European Council.

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