False Start for the Juncker Recovery Proposals

Stuart Holland
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Stuart Holland: Visiting Professor at FEUC, Portugal, and Senior Research Fellow of the Institute for Social and European Studies, Köszeg, Hungary.

Notas Económicas, 2015, issue 41, 19-24

Abstract: The ‘Juncker Plan’ of November 2014 proposes to define investment criteria for a European Fund for Strategic Investments. This displaces that such investments are within the statutory remit of the EIF – the European Investment Fund – which is part of the European Investment Bank Group and, like the EIB, can issue bonds that do not count on national debt. The BRICS are ready to invest in € bonds to promote European recovery since this is to mutual advantage in sustaining their trade. Rating agencies, pension funds and sovereign wealth funds want a European recovery. Nor are new investment criteria needed. They already were widely defined for the EIB Group by the 1994 Essen Council and in the 1997 Amsterdam Special Action Programme. A host of investment projects that already have planning approval can be jointly EIB-EIF financed and could achieve a Roosevelt style New Deal for Europe.

JEL-codes: E02 F33 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:gmf:journl:y:2015:i:41:p:19-24

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