€315 billion for EU’s growth & jobs

The EU Commission’s top priority is to get Europe growing again and increase the number of jobs without creating new debt, said its new President Jean-Claude Juncker. In line with its Jobs, Growth and Investment package’s proposal, the Commission has green-lighted the creation of a €315 billion fund aimed at boosting business and reducing unemployment in the EU. The package’s targets consist of offering better loans or guarantees with greater risk capacity, creating 1.3 million new jobs, and generating 2.3 percent of growth by adding €300 to 400 billion to EU’s GDP. The fund’s total pledge should be guaranteed using €21 billion of European public funding by July 2015. “The focus (…) should be in infrastructure, notably broadband and energy networks as well as transport infrastructure in industrial centers; education, research and innovation; and renewable energy,” former candidate Juncker explained in July.