ALDE group chair presented a new investment plan which replaces that one of the president of the European Commission. A non-confidence vote?
by Emanuele Bonini
The president of the Group of the Alliance of Liberals and Democrats for Europe (ALDE), Guy Verhofstadt, launched today his investment package. It is the answer and maybe even the counter-proposal to Jean-Claude Juncker's 300 billion Euro investment plan. According to Verhofstadt, Juncker's proposal is insufficient to address the challanges and the difficulties the European Union has to deal with. ALDE group chair is ready to mobilize 700 billion Euro, more than the two times compared to Juncker's plan. «Why 700 billion Euro? because this is the amount of the investment gap we have in the Euro area today», pointed out Verhofstadt. Thus it appears clear Liberals believe Juncker's package is not enough. Three are the main element of Verhofstadt's proposal: a European Union investment found (EUIF) based on European collateral, a European tax stimulus for households and small and medium sized businesses, and the opening up of the market. The EUIF will be based on the principle of the risk sharing: 8% of the fund will have guarantees from EU member States, 8% of guarantees from the European Investment Bank and 4% of guarantees from the European Financial Stability Mechanism. The EUIF will issue European bond whose income will be tax exempt. EU bonds are supposed to replace project bonds, one of the main instrument could be used by Juncker. «I've been listening to talk about project bond since many year and I have never seen them. I have the impression it is a joke». Despite Verhofstadt's strategy - to be verified - is the political message liyng in this initiative to appear very clear: European Liberals don't trust Jean-Claude Juncker any more.
It appears more clear listening to what Guy Verhofstad said during his press conference. «The European Commission proposed the 300 billion investment plan. It remains unclear whether it is new money or if the intention is to shift funds from one source to another, and it remains equally unclear if private capital is to be attracted». These statements sound like a lack of confidence in Juncker and his Commission. The new college of commissioners took office at the beginning of November, but after less than one month it appears Juncker lost his popularity. ALDE were one of Juncker's political partners, one of those groups voting in favour of Juncker Commission into the Parliament. Now, with this proposal, European Liberals reconsider their choices. That's the point: EPP-PES-ALDE coalition is still alive? Guy Verhofstadt said his proposal «wants to be a contribution to the ongoing discussion». Ok, but why to propose a new different plan rather than to offer simple advice to Jean-Claude Juncker? «In the Euro area alone the investment gap stands at least at 700 billion Euro», «it remains unclear whether it is new money or not, and it remains equally unclear if private capital is to be attracted»: perhaps is the political sense of these declaration that Liberals confidence in Juncker is over?
The president of the Group of the Alliance of Liberals and Democrats for Europe (ALDE), Guy Verhofstadt, launched today his investment package. It is the answer and maybe even the counter-proposal to Jean-Claude Juncker's 300 billion Euro investment plan. According to Verhofstadt, Juncker's proposal is insufficient to address the challanges and the difficulties the European Union has to deal with. ALDE group chair is ready to mobilize 700 billion Euro, more than the two times compared to Juncker's plan. «Why 700 billion Euro? because this is the amount of the investment gap we have in the Euro area today», pointed out Verhofstadt. Thus it appears clear Liberals believe Juncker's package is not enough. Three are the main element of Verhofstadt's proposal: a European Union investment found (EUIF) based on European collateral, a European tax stimulus for households and small and medium sized businesses, and the opening up of the market. The EUIF will be based on the principle of the risk sharing: 8% of the fund will have guarantees from EU member States, 8% of guarantees from the European Investment Bank and 4% of guarantees from the European Financial Stability Mechanism. The EUIF will issue European bond whose income will be tax exempt. EU bonds are supposed to replace project bonds, one of the main instrument could be used by Juncker. «I've been listening to talk about project bond since many year and I have never seen them. I have the impression it is a joke». Despite Verhofstadt's strategy - to be verified - is the political message liyng in this initiative to appear very clear: European Liberals don't trust Jean-Claude Juncker any more.
It appears more clear listening to what Guy Verhofstad said during his press conference. «The European Commission proposed the 300 billion investment plan. It remains unclear whether it is new money or if the intention is to shift funds from one source to another, and it remains equally unclear if private capital is to be attracted». These statements sound like a lack of confidence in Juncker and his Commission. The new college of commissioners took office at the beginning of November, but after less than one month it appears Juncker lost his popularity. ALDE were one of Juncker's political partners, one of those groups voting in favour of Juncker Commission into the Parliament. Now, with this proposal, European Liberals reconsider their choices. That's the point: EPP-PES-ALDE coalition is still alive? Guy Verhofstadt said his proposal «wants to be a contribution to the ongoing discussion». Ok, but why to propose a new different plan rather than to offer simple advice to Jean-Claude Juncker? «In the Euro area alone the investment gap stands at least at 700 billion Euro», «it remains unclear whether it is new money or not, and it remains equally unclear if private capital is to be attracted»: perhaps is the political sense of these declaration that Liberals confidence in Juncker is over?
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