Italian presidency on EFSI and Juncker speech at EP - Hoofdinhoud

Padoan: "First step towards a major change to boost growth and employment"

"Today Europe is turning a page after years of fighting to restore our fiscal credibility and to promote reform" stated European Commission President Jean Claude Juncker before the MEPs sitting in plenary session in Strasbourg for the presentation of the new EU investment plan amounting to 315 billion euros.

The Commission President specified that the plan will be "operational by June 2015" and that the selection of the projects to be funded will be carried out by experts in order to allocate the resources "to those countries which have been more affected by the crisis". The contribution of the member states to the investment fund "will be deducted from deficit and debt” explained Juncker.

Pier Carlo Padoan , finance and economics ministry, considers Juncker’s plan "highly appropriate" and as a "first step towards a major change to boost growth and employment".