Investment funds have a role to play in the creation and retention of jobs within the European Union (EU).

This is the view expressed in a speech by EU commissioner for employment, social affairs and inclusion Laszlo Andor, who explained such bodies have been active in the business sector and have owned companies, generated work and funded research and development.

He was speaking at the Social Affairs and Inclusion Restructuring Forum on the issue and noted that funds have also been responsible for the closure of plants, job losses and firms being sold off in recent years.

During his appearance in Brussels, Mr Andor stated: "One way to foster greater accountability among financial investors could be to promote employees as potential investors."

He added that there is a tradition of this approach in some parts of the region, which can help to empower workers and ensure high levels of job satisfaction.

In related news, Eurostat recently reported that unemployment appeared to have stabilized in the EU during May this year.

Posted by Alex Donnell