Assessment of Juncker Investment Plan

16.12.2014

Question for written answer E-010780-14
to the Commission
Rule 130
Dimitrios Papadimoulis (GUE/NGL)

A recent resolution adopted by the Committee of the Regions on the Juncker Investment Plan highlighted the need for ‘national co-financing of the European Structural and Investment Funds [to] be exempted from deficit calculations of the Stability and Growth Pact’ and the reservation on the part of the Committee of the European regions as to ‘whether the envisaged 1:15 leverage ratio can be achieved throughout the EU, taking into account that some less developed regions lack a robust private sector that could provide additional financing for projects’.

At the same time, the President of the European Court of Auditors noted during the presentation of its annual report that the financial engineering instruments in which EU funds are placed and then used to provide support for investments by way of loans, guarantees or equity in the hope of leveraging the private sector had failed.

In view of the above, will the Commission say:

What is its view of the reservations expressed by the Committee of the Regions and the Court of Auditors regarding the leverage ratio of the European Fund for Strategic Investments (EFSI)?

Does it share the concerns of the Committee of the Regions that governments may divert funds from other EU funds to the EFSI?

Would it take what would be an important step for economic balance and growth in the EU and propose legislation to fully exempt investment funds from the deficit calculations of the Member States?