Today in the European Parliament in Strasbourg, President of the European Commission, Jean-Claude Juncker, presented the new “ambitious” plan of 315 billion euros of his administration to encourage the growth of the economy and employment in the European Union, which is facing financial and economic crisis for years now.
In fact, only 21 billion euros would be procured from the European public funds – from the EU budget (16 billion euros) and the European Investment Bank (5 billion euros), which together would constitute the “European Fund for Strategic Investments”. The European Commission expects this investment to create 315 billion euros of private investments and a million new jobs in the next three years, reveals the President of the European Commission.
This complex mechanism was strongly criticized by the European Trade Union Confederation, which General Secretary, Bernadette Ségol, said that Juncker “hopes of financial miracle like the loaves and fish.”
– I don’t think that you can get up to 315 billion euros with 21 billion euros investment – she said, and also added that these 315 billion euros would be less than half of what is needed as an investment to stimulate the European economy.