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Juncker plan draws questions over lack of new cash

Nov 27, 2014 | News

(27 November 2014) – The European Commission presented a 315 billion euro plan on Wednesday (26 November) to boost Europe’s stagnant economy, but some doubted private investors would provide the funding, 15 times the EU contribution, needed to make it work.

France and Italy, which have been demanding action to boost economic growth, cautiously welcomed the scheme but some business leaders and economists were sceptical the investments would materialise.

New Commission chief Jean-Claude Juncker acknowledged the plan lacked major new public spending, with just 8 billion euros of European Union money helping capitalise a special fund, but said that adding to public debt would not help. (Sources: EurActiv / Le Soir)

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