Local view for "http://purl.org/linkedpolitics/eu/plenary/2014-03-10-Speech-1-038-000"

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"Madam President, the existence of the EIB is justified on the grounds of perceived need. The Committee on Economic and Monetary Affairs (ECON) bemoans the fact that there was a lack of sustainable and viable projects that were eligible for EIB funding. It appears that the EIB criteria did not match the investment need. There is certainly a need for investment in infrastructure in the Member States. However, investment can be carried out more cheaply, more efficiently and in a more targeted way by those Member States creating the credit themselves rather than borrowing from external institutions and adding sovereign debt. The principle of ‘what is physically possible must be financially possible’ should be followed. President Obama, no less, when introducing the American Jobs Act, said it was a contradiction for a bridge in Maine to be in need of repair while construction workers were unemployed. However, the resolution of that contradiction seems to have eluded him."@en1
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