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1st LD: EU presents law for 315-bln-euro investment plan

Xinhua, January 13, 2015 Adjust font size:

The European Commission, the exclusive body of the European Union (EU), on Tuesday adopted the legislative proposal for the European Fund for Strategic Investments, moving forward on implementing the bloc's core financial stimulation policy.

The fund is at the very heart of European Commission President Jean-Claude Juncker's Investment Offensive, which will mobilize at least 315 billion euros (372 billion U.S. dollars) in private and public investment across the EU.

Juncker called on each political side to approve the plan and praised adopting the legislative proposal as an important step towards putting Europeans back into the job market and kick-starting the EU economy.

"I now count on the political leadership of the co-legislators, the European Parliament and the Council, to get the proposal adopted swiftly so that the fund is operational by June and new investments start flowing. Europe's citizens expect nothing less and we have no time to lose," Juncker said. Endit