23 Feb 2016
EUROPEAN COMMISSION DAILY NEWS – 23 FEBRUARYBrussels Daily
Investment Plan for Europe: new guidelines on combining European Structural and Investment Funds with the EFSI
Today the Commission, in partnership with the European Investment Bank (EIB), is publishing guidelines to help local authorities and project promoters make full use of the opportunities of combining European Structural and Investment (ESI) Funds with the European Fund for Strategic Investments, the heart of the Investment Plan for Europe. The brochure provides an overview of the possible combinations of EFSI and ESI Funds, either at project level or through a financial instrument such as an investment platform. European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “The EFSI was created to be as flexible as possible and there are huge opportunities for project promoters to apply for EFSI financing as well as ESI Funds”. Commissioner for Regional Policy, Corina Creţu, said: “Achieving the objectives of the Investment Plan for Europe is a joint effort and all sources and actors need to be mobilised”. For more information see the press release and Q&A.
Eurobarometer: The role of the euro in international trade
The European Commission published today a Flash Eurobarometer on “Possible obstacles to using the euro in international trade” as perceived by companies in France, Germany, Italy and the UK in the aircraft and shipbuilding, energy, financial services, and electrical and mechanical engineering industries. The survey confirms that the euro is widely used by European firms in their invoicing practices with nearly eight out of ten companies invoicing more than 75% of their export in euro. Two thirds of the surveyed firms in France, Germany and Italy said they did not use any other currency for export invoicing than the euro. If companies did use other currencies, this was mostly due to client preference and the important role of the US dollar in global finance. Also, firms’ trade invoicing practices appear not to be markedly affected by the European sovereign debt crisis, with around four fifths of the companies saying the crisis had no effect on their use of the euro in trade invoicing. The Flash Eurobarometer survey was conducted to feed into the Commission report on “Invoicing currencies in International Trade – Drivers and Obstacles to the Use of the Euro” which was discussed by euro area Finance Ministers on 11 February 2016 and is also published today. The report found no obvious evidence of widespread concerns in any economic sector for obstacles at micro-level that could limit the use of the euro for trade invoicing.