Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-04-19-Speech-4-171-000"
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"en.20120419.15.4-171-000"2
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"Mr President, cofinancing of projects seeking support from the Structural Funds should increase the efficiency of the use of European money. A private bank or other company that invests its own money in a project will not only want its money back, but will also want to see a profit. They therefore carefully consider the profitability of each project, thereby reducing the risk of wasting European taxpayers’ money. I understand that the Commission is looking for a way to continue funding structural projects even in the current difficult situation. However, the mechanism that it proposes undermines the push to obtain the effectiveness of the expended funds. If the EU pays a large part of the investment, whilst also providing a guarantee of business risk, nothing will prevent banks and private companies from entering into senseless projects. They will not lose their money. This is precisely the path to irresponsible spending, the effects of which we can see today in every EU Member State."@en1
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