The ?315bn Plan To ‘Kick Start’ Euro Growth

European Commission chief Jean-Claude Juncker has announced a ?315bn investment plan to “kick start” the continent’s flatlining economy.

Details of how the European Fund for Strategic Investment would work were outlined as the European Central Bank (ECB) wastipped to provide additional support through a programme of quantitative easing in the coming months.

Mr Junckertold the EUParliament in Strasbourg: “Europe needs a kick start and today the Commission is providing the jump cable.”

At the centre of his proposal is the provision of ?21bnin so-called ‘seed’ money from EU institutions, designed to spark private sector investment.

He estimated that for every euro invested by the EU, it would generate ?15 and said the money would benefiteducation, transport, the digital economy and the environment.

The European Investment Bank (EIB) was to be the “prime mover” in delivering the seed money for investments, cash that Mr Juncker said would not have materialised otherwise amid low inflation, high unemployment and a stagnation in economic growth.

EU and EIB officials, with the input of member states, were drawing up a list of potential projects to support, with the fund set to be operational by mid 2015.

Mr Juncker added: “We need to send a message to Europe and to the rest of the world: Europe is back in business.”

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26 November 2014 | 9:38 am – Source:


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