Measures to tackle youth unemployment in Greece using Structural Funds

Together with Greek authorities the Action Team of the European Commission reprogrammed  EUR 1,15 billion for projects aimed at combating youth unemployment. 'A national youth action plan was announced in January 2013. Up to now, an amount of approx. EUR 635 million has targeted 182 812 beneficiaries while an additional budget of EUR 517 million targeting 350 000 participants has already been committed and is being used to promote youth related activities under the action plan. The revisions of 8 ERDF and 4 ESF programmes were submitted in Q3 2012 and programmes were approved in December. These revisions have the following aims:

  • To provide an additional support of EUR 1.2 billion to address the liquidity needs of SMEs;
  • To ensure the effective functioning of the Guarantee Fund;
  • To provide additional support of approximately EUR 466 million ESF and EUR 51 million ERDF (total EUR 517 million) to promote youth employment;
  • Transfer of projects from the regional Operational Programmes to the national Operational Programmes to facilitate the absorption of the latter and 'release' fund from the former to finance the Guarantee Fund;
  • The revision of the national Operational Programmes will lead to EUR 255 million in EU funding that will be transferred to the Competitiveness Operational Programme.'

Source: Abstract from the report Youth Employment Action Teams - Update for the Spring European Council, 14-15 March 2013