EU mulls ‘Marshall plan’ for Europe

EurActiv ^ | 30 April 2012

[Olog-hai]

The European Commission is preparing a €200 billion “pact for growth” to be presented at the next EU summit in June.

According to leading Spanish newspaper, El País, the plan aims to raise funds valued at €200 billion for investments in infrastructure, renewable energies and advanced technologies with the involvement of the private sector, in a bid to kick-start economic growth without raising public debt in the 27 member states.

The plan, which takes into consideration ideas of the French Socialist front-runner François Hollande, namely leveraging the European Investment Bank to boost growth and jobs, will be presented after the French elections.

Responding to widening criticism of austerity-led reforms, European Commission President José Manuel Barroso said on Friday (27 April) that the EU already had an agenda for growth, Europe 2020, but added that this agenda could be ‘updated’. …

Barroso referred to his proposal for "project" or "investment" bonds as an example for this possible upgrade, as well as the Commission idea for reinforcement of the capital of the European Investment Bank (EIB), which he said had not been received well at the time. …

Meanwhile, European Council President Herman Van Rompuy sent a letter to EU leaders on Friday (27 April) warning them that “we must generally strengthen the governance of the Single Market and open new areas of growth.”

“There are no quick-fix solutions. We have had to deal with the urgent pressures of the sovereign debt crisis. The emphasis should now shift increasingly to prioritizing measures that can boost growth and jobs and a return to a sustainable growth,” he said.

Barroso’s and Van Rompuy’s statements come just days after Hollande detailed his plans for a new Europe-wide growth pact. …

[ResponseAbility]

****the plan aims to raise funds valued at €200 billion for investments in infrastructure, renewable energies and advanced technologies with the involvement of the private sector****

Solyndra anyone? I think the European Pols like how easy it worked for Obama.

[Tublecane]

Hey, nobody’s tried stimulus yet, have they? It could work.

[GonzoGOP]

The difference was the original Marshall plan was paid for out of US Government surplus. A plan for Europe paid for using more European Debt isn't going to do any good, and in fact is likely to make things worse.

The Eurocrats will do it anyway. Nothing will stop them in their race to destruction. A race Obama seems determined to win despite all of Europe's efforts to be the first to self destruct.

[Mike Darancette]

They are-a so screwed.

[StormEye]

"The European Commission is preparing a €200 billion “pact for growth” to be presented at the next EU summit in June."

I'm sure the globalists at the Fed. Reserve, the IMF, The World Bank, the State Department, the US Treasury, etc, are anxious to chip in America's "fair share".