World

Saturday 2 August 2014

Jean-Claude Juncker calls for €300bln investment programme to revive European economy

Published 15/07/2014|09:54

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Jean-Claude Juncker
Jean-Claude Juncker

Designated European Commission President Jean-Claude Juncker called for a 300 billion euro public-private investment programme to revive the European economy, create jobs for the young and stimulate growth over the next three years.

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The money should be mobilised from existing budget resources, the European Investment Bank and the private sector, without changing the bloc's strict rules on budget deficits and debt reduction, he told the European Parliament during a debate on his confirmation to head the EU's executive.

"We need a reindustrialisation of Europe," the former Luxembourg prime minister said, promising a work programme in February 2015 for investments in energy, transport and broadband networks and industry clusters.

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