| Author (Corporate) | European Commission: DG Communication |
|---|---|
| Series Title | Statement |
| Series Details | SPEECH/14/2160 (26.11.14) |
| Publication Date | 26/11/2014 |
| Content Type | News, Overview |
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European Commission President Jean-Claude Juncker launched on the 26 November 2014 a €315bn 'Investment Plan for Europe' to kick-start Europe's economy. Since 2007 Europe had made enormous efforts to overcome the financial and economic crisis. It had improved economic governance, introduced efficient financial backstops, and set up a banking union. Member States were consolidating public finances and undertaking structural reforms. Yet, despite the progress, the European economy was still fragile; investment was 15% lower than in 2007, and unemployment up 40% in the last seven years. The Plan launched was built on three main strands + the creation of a new European Fund for Strategic Investments (EFSI), guaranteed with public money, to mobilise at least €315bn of additional investment over the next three years (2015 - 2017) According to European Commission estimates, taken as a whole, the proposed measures could add €330 - €410bn to EU GDP over the next three years and create up to 1.3 million new jobs |
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| Source Link | Link to Main Source http://europa.eu/rapid/press-release_SPEECH-14-2160_en.htm |
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| Subject Categories | Business and Industry, Economic and Financial Affairs |
| Countries / Regions | Europe |
