Pierre Moscovici and Jyrki Katainen painted a picture of a weakened European economy yesterday. Their economic forecast for France is significantly less optimistic than that provided by the French government: they expect France to be the EU's most indebted member state in 2016. EurActiv.fr reports.
The European Commission presented a 315 billion euro plan on Wednesday (26 November) to boost Europe's stagnant economy, but some doubted private investors would provide the funding, 15 times the EU contribution, needed to make it work.
Greece and its EU/IMF lenders failed to resolve differences over next year's budget at talks in Paris, a Greek official said yesterday (26 November), raising doubts about whether Athens can meet a deadline to wrap up its bailout programme.
The OECD has thrown its weight behind the argument for relaxing budgetary policy, a position championed in the eurozone by France and Italy. The European Commission is due to publish its judgements on the member states' budget bills on 28 November. EuActiv France reports.
“I promised to present an ambitious Investment Plan before Christmas. One month later and Christmas has come early – I am here to deliver on my promise”, Commission President Jean-Claude Juncker told MEPs, presenting his €315 billion investment plan.
The European Commission yesterday (25 November) unveiled the mechanism for its much-heralded €315 billion investment plan, revealing how a limited €21 billion of initial public money is intended to lift fifteen times as much in capital.
The long-awaited European Fund for Strategic Investments was unveiled yesterday (25 November). The EIB, who will be investing 5 billion euros, hopes to wave its magic wand to mobilise 315 billion, without dipping into the Commission budget. EurActiv France reports.