In Europe there is a
serious problem of under investment, especially in European infrastructure,
which could boost employment. Still, that is "a plan" not real money.
European leaders have signed a three-year, €315 billion ($343 billion)
investment program aimed at kick-starting the bloc’s economic growth.
The European Commission and the European Investment Banksigned a €
315 bn investment plan, host to boost growth in Europe. This is not an actual
amount of money set aside, it is a fund objective that the Commission hopes can
be leveraged from an original capital of € 35 bn.
With the adoption of this investment plan between the European Commission
President, Jean-Claude Juncker, President of the European Investment Bank,
Werner Hoyer, and European Commission Vice-President for Jobs, Growth,
Investment and Competitiveness, Jyrki Katainen, a basic “campaign promise” for
the European Commission Presidency was fulfilled.
This was one of Jean-Claude Juncker in his debates with the other
candidates in 2014, recognizing yesterday that Europe was facing a serious
underinvestment challenge. The investment plan aims to mobilize €315 bn of
private and public investment by setting up a European Fund for Strategic
Investments between 2015 and 2017.
The European Commission aims at creating 1 to 1.3 million new jobs in the
coming years, with EU member states contributing directly or through their
national banks to the fund. Germany has so far committed €8 billion
and Spain has earmarked €1.5 billion.
http://www.neurope.eu/article/eu-leaders-sign-a-plan-to-mobilize-e315-bn-for-investment/