In a three-hour hearing at the European Parliament on Tuesday, Commissioner-designate for Jobs, Growth, Investment and Competitiveness Jyrki Katainen called for public/private partnerships, increased lending capacity for the European Investment Bank and other EU lending bodies, more “future investment” by EU nations in areas such as infrastructure and the completion of the single market.
“We need an unprecedented mobilisation of public, private sectors. The Commission, the EIB, the Member States to pull together the 300 billion package. As important as the quantity will be the quality of the investments. It is productive, real investment that we need.”
“I don’t want 300 billion on a table, but I want 300 billion of real investment to support jobs and growth over the next three years. Let me be clear: we need a fresh impetus for growth, jobs and investment without creating new debt. And for that we will need to mobilise bot public and private money in new ways.” Katainen said.