The head of the European Investment Bank today said that reforms in the European Union member states are “urgently needed” if Jean-Claude Juncker’s €315 billion investment fund is to succeed.
Werner Hoyer, the president of the European Investment Bank (EIB), said that there is enough private capital in Europe to support the fund, which is the brainchild of the European Commission president, but many investors lack the confidence to support “risky projects” that would help stimulate the EU’s economy. In order to change that, Hoyer said Europe should become more “business friendly, and reduce bureaucracy and red tape”.
Hoyer called Juncker’s plan …read more
Source: European Voice
