“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.
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 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.
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.
Member states will be required to contribute a further €326 billion to the 2014-2020 EU budget. This may affect the Commission’s ability to meet all the requests for payments, and of countries to pay their dues, the European Court of Auditors (ECA) warned.
Responsible corporations paying their taxes and revealing their ownership structure could be a possible solution in the fight of Europe against tax evasion and tax havens which cost billions of euro annually. EurActiv Czech Republic reports.
The LuxLeaks case reminded Europe that it needs to deal with tax evasion which costs the EU budget billions of euros. A group of lawyers and economists put forward the so-called ‘Taxparency’ solution and believe they can gather political support. “We have already presented it to Mr. Juncker, and he liked it,” Czech MEP Tomáš Zdechovský told EurActiv Czech Republic in an exclusive interview.