Posted on 04/30/2012 1:14:10 PM PDT by Olog-hai
German Chancellor Angela Merkel is backing calls by the EU commission to boost the funds of the European Investment Bank (EIB), a move meant to show that leaders are putting their money where their mouth is in terms of growth.
As leaders are increasingly shifting their focus from austerity to growth-boosting measures, older plans tabled by the EU commission in the past few years are being revived.
Boosting the lending capacity of the Luxembourg-based EIB is one of those ideas.
Merkel over the weekend told Leipziger Volkszeitung she "can imagine that we further strengthen the capabilities of the European Investment Bank,” without going into any details.
The EIB move could be an anticipatory concession towards François Hollande, the front-runner in this weekend's second round of the French presidential elections.
Berlin has refused to consider Hollande's demand to renegotiate its fiscal compact treaty, signed recently by 25 member states.
Merkel's spokesman Steffen Seibert on Monday explained that the German government is willing to support an increase in EIB's capital, currently at €72 billion. …
(Excerpt) Read more at euobserver.com ...
” More money for EU investment bank as leaders re-focus on growth “
Pay no attention to that austerity behind the curtain!!!
More borrowing and more spending. Maybe they should change some of the rules and laws. End welfare for immigrants etc.
Maybe some of the lesser lights should default and leave the Euro.
Step two: ?
Step three: Profit
Don’t be surprised if Step 2 dictates that the end justifies any and all means . . .
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