30.04.2012: According to Spanish daily El Pais, the European Commission is developing a plan that would attempt to spur economic growth in Europe by investing up to €200 billion ($265 billion) in infrastructure projects, green energy and advanced technologies. The Commission has not yet specified which energy technologies would be supported, but it said the plan would be officially presented at an upcoming summit in Brussels in late June. The plan would likely rely on both public and private funding, and funds would be allocated by the European Investment Bank (EIB). Under one proposed option, the Commission would ask member states to each contribute €10 billion to recapitalize the EIB. The EIB could then boost lending to €60 billion this year, which, according to the article, would enable €180 billion in investments. Under the second option, the EIB would use €12 billion left over from the European Financial Stability Mechanism (EFSM) as leverage to attract up to €200 billion from the private sector. … Source: El Pais; Translation and summary: PHOTON http://www.elpais.com http://economia.elpais.com/economia/2012/04/28/actualidad/1335647294_2
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