22 Jul 2015
EUROPEAN COMMISSION DAILY NEWS – 22 JULYBrussels Daily
Investment Plan for Europe: European Fund for Strategic Investments ready for take-off in autumn
Today the European Commission has put the final building blocks in place to kick-start investment in the real economy. A package of measures agreed today will ensure that the European Fund for Strategic Investments (EFSI) is up and running by early autumn 2015, keeping the ambitious timetable set by President Jean-Claude Juncker to implement the Investment Plan for Europe.
European Commission proposes changes to the European Financial Stabilisation Mechanism (EFSM)
Just a few days after providing €7.16 billion in bridge-financing to Greece under the European Financial Stabilisation Mechanism (EFSM) in order for the country to cover its urgent financing needs and pay its obligations to the IMF and the ECB, the European Commission has proposed changes to the EFSM Regulation. The amendments to the Regulation follow the joint Declaration of 17 July by the European Commission and the Council to provide a permanent safeguard for non-euro Member States making sure they will be protected via a system of collaterals in case of possible future uses of the EFSM. The amendments serve to indemnify Member States whose currency is not the euro in case they would incur a financial loss. The joint Declaration also states that the EFSM would not be used again before the proposed changes are in force. Therefore the Commission’s proposal should now be adopted swiftly by the Council. Please find the amended Regulation here.
Read today’s edition in full: Daily News 22 – 07 – 2015