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Germany requests €89 bn of investment cash

Germany hopes to be granted investment cash which will be split into various investment projects under plans from new European Commission President Jean-Claude Juncker.

A list of European investment projects seen by the Suddeutsche Zeitung on Monday showed enough promise to potentially attract private companies into investing money in boosting Germany’s broadband internet capacity.

EU finance ministers will meet on Tuesday to discuss the details of this investment plan in more detail.

Juncker is looking into bringing the European Central Bank (ECB) into the picture to help fund the project, seeing as how the government won’t have enough cash to offer in terms of infrastructure projects.

In Germany, growth forecasts were recently cut down to 1% by Bundesbank.

Experts currently have mixed opinions over whether Juncker’s plan can provide the necessary boost, mainly due to the fact that it will stretch over the next 10 years. Also most of the projects have already been factored into government plans for years and thus it is unlikely that they will provide a sudden lift in economic activity.

 

 

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