The hottest EU leaders passed the 120billion Euro

2022-10-19
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EU leaders passed the 120billion Euro growth plan

president of the European Council van Rompuy announced in Brussels on the night of the 28th that EU leaders have reached an agreement on the 120billion Euro plan to stimulate economic growth "with the help of new ideas, new technologies and new models at the same time" through the resolution of the board of directors and supervisors of the society for advanced molding technology (samt). Brussels, June 28 (Xinhua) -- President of the European Council van Rompuy announced in Brussels on the night of the 28th that EU leaders had reached an agreement on a "package" plan to stimulate economic growth worth 120billion euros

van Rompuy said at the press conference after the first phase of the EU summer Summit: "growth has become the focus of our work, and this growth plan is a symbol of our unremitting efforts."

according to van Rompuy, half of the funds for this growth plan come from the European investment bank. EU leaders have agreed to increase the capital of European investment banks by 10billion euros and increase the borrowing capacity of European investment banks by 60billion euros through "leverage". "This money will be invested in all EU countries, especially those in trouble, to help them step out of the crisis through growth," van Rompuy said

van Rompuy said that another 55billion euros will come from the "structural fund" set up to narrow the gap between the rich and the poor in EU countries, which will be mainly used to support the development of small and medium-sized enterprises and the employment of young people. The remaining 5billion euros comes from the "project bonds" to be issued this summer, which will be mainly used for infrastructure such as energy, transportation and broadband

van Rompuy said: "to stimulate growth, we not only need to invest more money, but also promote economic growth by improving the European single market system, solving unemployment, promoting trade and innovation."

he also said that this growth plan is an important part of the "growth contract" pushed by France and many other EU countries, but therefore, "as there are still some contents about financial stability and the euro have not been finalized", all parties will continue to discuss the full version of the "growth contract" with the 29th

the two-day EU summer summit was held in Brussels on the 28th. During the meeting, in addition to the growth plan and "growth contract", EU leaders will also discuss how to alleviate the financing pressure of Spain, Italy and other countries, and how to improve the European Economic and monetary union to ensure the precise size of the gap

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