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EU official says investment plan feasible,fast

Xinhua, January 13, 2015 Adjust font size:

European Union (EU) official on Monday elaborated 315-billion-euro (about 372 billion U.S. dollars) Investment Plan for Europe,saying it feasible and fast.

European Commission Vice-President responsible for Jobs, Growth, Investment and Competitiveness Jyrki Katainen delivered a speech in a thinktank, saying the Commission will present Tuesday the legal proposal that will form the legal basis of the first two pillars of Investment Plan for Europe.

Katainen noted that the Plan has been criticised from different corners and angles, from a huge backdoor to small size.

"I noticed that some of the criticism to the Plan was based on rumours, incorrect interpretations and on what was done in the past," he said.

Katainen said the EU budget and leverage effect are credible through their working ways designed by the EU and the European Investment Bank, expected to stimulate more private investment into certain projects. Endit