The Juncker Plan: From €21 to €315 billion, through smoke and mirrors

Abstract:

On the face of it, the €315 billion euro in additional investment announced by Juncker to kickstart Europe’s economy should make a material difference. But, explains Daniel Gros, without actually having any margin of manoeuvre in the EU budget there cannot be any financing for new investment and there cannot be any real growth impulse. The European Commission should have made the completion of the internal market, in particular the integration of Europe’s energy markets, a precondition for any new investment plan.