Juncker package a 'business as usual' publicity stunt

"The package you have promised is empty and contains not one euro of fresh money," MEP Dimitrios Papadimoulis told Commission President Jean-Claude Juncker in this morning's European Parliament debate on the Commission's new Jobs, Growth and Investment Package.

"You say this will create a multiplier effect of 15. No economist in the world would say that in this climate of stagnation, recession, and impending deflation in the Eurozone could we have such a multiplier effect. Without new funds, there can be no growth or recovery and we've seen this time and again throughout the history of economics."

"While my own country, Greece, faces 30% unemployment, 60% youth unemployment, and a humanitarian crisis, you propose a package of business as usual," he concluded.

"This plan is full of delusion and wishful thinking," said Fabio De Masi.

"€21 billion will be taken from the EU budget and the European Investment Bank to insure private investors against any losses. It is mere creative accounting. The planned 'road show' to beg for reluctant private investment is embarrassing for the EU. Juncker wants to burn public money, as infrastructure investments will have to satisfy investors' demands for high yields. GUE/NGL demands a public investment programme and an end to austerity. This could be financed via a wealth levy on millionaires and by combatting tax havens."