Brussels, 29/04/2015 (Agence Europe) - After a vote to this effect at the European Parliament plenary in Strasbourg on Wednesday 29 April, the European Commission said it was prepared to pay pre-financing to the member states for the Youth Employment Initiative (YEI) that is 30 times bigger than initially foreseen and it would be available from 26 May onwards.
By 632 to 30 (and 31 abstentions), the MEPs endorsed new legislation to raise the pre0fianncing rate for the YEI (see EUROPE 11301). Elisabeth Morin-Chartier (EPP, France), the rapporteur, said that the MEPs had been able to put their differences to one side in their desire to be effective and show that Europe had not abandoned young people. She said that it had taken less than three months to get the legislation through, which sends a clear signal to the heads of state that they must take action as the ball is now in their court. The Social Democrats also welcomed the legislation, but said it was simply a drop in the ocean when it comes to the problem of youth unemployment in Europe.
Although the EU Council of Ministers still needs to give the final go-ahead, the Commission has said that it could pay the new rate of pre-financing (30%) from 26 May onwards. By the end of the year, it will publish a report on exactly how the member states make use of the pre-financing. (Jan Kordys)