Abstract
The ‘Juncker Plan’ of November 2014 proposes to define investment criteria for a European Fund for Strategic Investments. This displaces that such investments are within the statutory remit of the EIF – the European Investment Fund – which is part of the European Investment Bank Group and, like the EIB, can issue bonds that do not count on national debt. The BRICS are ready to invest in € bonds to promote European recovery since this is to mutual advantage in sustaining their trade. Rating agencies, pension funds and sovereign wealth funds want a European recovery. Nor are new investment criteria needed. They already were widely defined for the EIB Group by the 1994 Essen Council and in the 1997 Amsterdam Special Action Programme. A host of investment projects that already have planning approval can be jointly EIB-EIF financed and could achieve a Roosevelt style New Deal for Europe.http://dx.doi.org/10.14195/2183‑203X_41_2
Highlights
A navegação consulta e descarregamento dos títulos inseridos nas Bibliotecas Digitais UC Digitalis, UC Pombalina e UC Impactum, pressupõem a aceitação plena e sem reservas dos Termos e Condições de Uso destas Bibliotecas Digitais, disponíveis em https://digitalis.uc.pt/pt-pt/termos
We propose a European New Deal which, like its American forebear would lead to progress within months, yet through measures that fall entirely within the constitutional framework to which European governments have already agreed
The Eurozone crisis is unfolding on four interrelated domains
Summary
The Eurozone crisis is unfolding on four interrelated domains. Banking crisis: There is a common global banking crisis, which was sparked off mainly by the catastrophe in American finance. Forced to create a bailout fund that did not violate the no-bailout clauses of the ECB charter and Lisbon Treaty, Europe created the temporary European Financial Stability Facility (EFSF) and the permanent European Stability Mechanism (ESM). The creation of these new institutions met the immediate funding needs of several member-states, but retained the flawed principle of separable public debts and so could not contain the crisis. For the first time in two generations, Europeans are questioning the European project, while nationalism, and even Nazi parties, are gaining strength
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