False start for the juncker recovery proposals

Authors

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

DOI:

https://doi.org/10.14195/2183-203X_41_1

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.

http://dx.doi.org/10.14195/2183‑203X_41_2

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Published

2015-06-01

Issue

No. 41 (2015)

Section

Articles

License

Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows sharing the work with recognition of authorship and initial publication in Antropologia Portuguesa journal.