Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-04-19-Speech-4-274-250"
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"en.20120419.15.4-274-250"2
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"The risk-sharing instrument has the potential to increase the participation of the private sector in the financing of important projects in European countries particularly affected by the crisis in order to create employment and growth. I therefore gave my approval, so that Greece, followed by the other countries in difficulties, can relaunch large-scale infrastructure projects which have been hampered by a lack of liquidity and by the cautiousness of banks and private investors. As a result of my experience with the Cohesion Fund, I can confirm that the uncommitted money from the European Regional Development Fund (ERDF) will act as a solid guarantee for Greece to cover part of the risks associated with private borrowing. This is, then, an instrument for sharing risk between the Commission and the European Investment Bank. ‘The austerity packages in the economies most affected by the crisis have not generated growth because of dysfunctions in the banking sectors and because of the fear of excessively large risks. As a consequence, there is an urgent need to release loans from the European Investment Bank (EIB) and to provide guarantees allowing for the involvement of the private sector in projects that bring growth and employment,’ my colleague in charge of the report, Mrs Hübner, has quite rightly emphasised."@en1
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