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Juncker confirms investment plan
26 Nov 2014 10:10
President of the European Commission Jean-Claude Juncker has revealed an eagerly-awaited public-private €315 billion investment plan.
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"Europe needs a kick-start and today the Commission is providing the jump cable," Mr Juncker told the European Parliament as he announced the new fund, a cornerstone of his five-year tenure.
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Officials hope that a range of infrastructure projects across the EU, from transport to energy to internet broadband, which have been stalled through a lack of investment, will be nudged forward through Mr Juncker's plan.
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A similar growth initiative in 2012, involving the European Investment Bank, is thought to have failed to take off because the Luxembourg-based investment bank was reluctant to jeopardise its Triple A rating by loosening its lending and investment approach.
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The €315bn plan is the first flagship initiative of the Juncker presidency.
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