XM does not provide services to residents of the United States of America.

Germany unveils immigration reform plan to tackle labour shortages



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>Germany unveils immigration reform plan to tackle labour shortages</title></head><body>

BERLIN, March 29 (Reuters) -Germany on Wednesday unveiled draft reforms on immigration, skills training and promoting immigration from Western Balkan countries, a bid by Chancellor Olaf Scholz's government to plug labour shortages in Europe's largest economy.

"With this, we are laying the foundation for a new start in migration policy," Finance Minister Christian Lindner tweeted after the cabinet approved the reforms. "Anyone who can contribute to the country's economic success as a skilled worker is welcome."

One of the reforms is a new immigration law that aims to address key hurdles for migrants to Germany, particularly for those coming from outside the European Union.

The draft law, seen by Reuters, says the reform could increase the number of workers from countries outside the EU by 60,000 people a year.

It offers foreign workers three pathways to enter the country. The first one requires a professional or university degree recognised in Germany, and an employment contract.

The second requires a minimum of two years of experience working in a relevant sector, and a degree or vocational training.

The third is a new "opportunity card" for individuals who do not have a job offer but have the potential to find work. The opportunity card follows a points-based system that takes into account qualifications, language skills, professional experience, connection to Germany and age.

The cabinet also approved an education law that entitles young people to paid off-the-job training. Germany's Federal Labour Agency will pay up to 67% of the net salary for the duration of the training.

The cabinet also decided to extend regulations for job-seekers from Albania, Bosnia-Herzegovina, Kosovo, the Republic of Northern Macedonia, Montenegro and Serbia, which were previously expected to expire at the end of the year. Germany will be able to recruit up to 50,000 workers annually from these countries.



Reporting by Maria Martinez and Holger Hansen; editing by Matthias Williams and Bernadette Baum

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.