Economic and Financial Affairs Council: Main results
EU News 62/2015
Council of the European Union
Investment plan for Europe
The Council agreed its negotiating stance on a European fund for strategic investments, enabling negotiations with the European Parliament to start rapidly.
The fund is part of a plan aimed at mobilising more than €315bn in private and public investment, thereby facilitating economic recovery, job creation and long-term growth and competitiveness.
The aim is to reach an overall agreement by June, so as to enable new investments to begin as early as mid-2015.
Excessive deficit procedure for France
The Council granted France two extra years to bring its government deficit below 3% of GDP, calling for the deficit to be corrected by 2017.
Extending the deadline was justified by the fiscal effort made by France since 2013, the Council found, and by the current weak economic situation and other factors.
Source and additional information:
ECOFIN Council - March 2015. From left to right: Mr Valdis DOMBROVSKIS, Vice President of the European Commission; Mr Janis REIRS, Latvian Minister for Finance. Shoot location: Brussels - BELGIUM Shoot date: 10/03/2015 (C)EU, 2015 URL