26th Sep 2022


Juncker hoping for 'strong endorsement' of investment fund this WEEK

  • Jyrki Katainen heads to Romania this week to promote the Juncker fund (Photo: European Parliament)

EU leaders gather in Brussels at the end of this week to, the European Commission hopes, give a "strong political endorsement" to the investment fund proposed by President Jean-Claude Juncker.

The fund, unveiled last month, is supposed to result in €315bn investment in the EU economy over the coming years, using a guarantee of €16 billion from the EU budget and €5 billion from the European Investment Bank (EIB).

Read and decide

Join EUobserver today

Become an expert on Europe

Get instant access to all articles — and 20 years of archives. 14-day free trial.

... or subscribe as a group

It has come in for criticism for relying on high leverage premises (€1 is to yield €15) and no new money - but the commission has argued that it was hemmed in by member states, particularly Germany, not wanting to create new debt.

A spokesperson Friday (12 December) said that the commission was expecting the endorsement of the fund to be "so loud and clear that it will be understood by all concerned".

Jyrki Katainen, the EU commissioner in charge of the fund, will travel to Romania, the first country in a tour to persuade investors to put their hands in their pockets to support a series of projects meant to boost growth in Europe. His tour continues in January when he heads to Germany.

2015 work programme

The commission is also due to present its to-do list for 2015 to MEPs next week. The work programme is expected to include plans for legislation to clamp down on tax avoidance and further economic integration.

It is also expected to improve transparency in the institutions; overhaul its controversial way of dealing with GM product approvals and bring the EU closer to being an energy union.

A series of laws are also up for the scrap heap, as part of the commission's new drive to get rid of obsolete legislation, and cull laws that are unlikely to ever see the light of day.

Among those being binned are a maternity leave proposal; one on labelling of organic goods; a proposal on loans to nuclear power states and a law on recycling waste - the inclusion of the waste law has drawn criticism that the commission is abandoning green initiatives to fit a deregulation agenda.

Commission president Juncker as well as Frans Timmermans, commissioner in charge of cutting down red tape, will discuss both this and the 2015 work programme with MEPs on Tuesday. Deputies from the left, in particular, are set to ask Juncker in detail about plans to ensure fairer tax regimes in the EU.

Juncker will face MEPs once more on Wednesday when they hold a debate on the EU's economy and the planned investment fund.

CIA report

Later that day, MEPs will debate the US Senate's report on the CIA's use of torture on detainees in the wake of the 9/11 terrorist attacks. Several member states having been accused over the years of aiding the CIA by hosting secret facilities on their territory.

Former Polish leader Aleksander Kwasniewski admitted last week that his country hosted one of these US cites, but other countries have also been implicated in the past, including Lithuania and Romania.

MEPs will also vote on a resolution on whether Palestine should be recognised as a state. The vote follows similar moves in several member states. Assemblies in Ireland and France have voted in favour of state recognition while Sweden recently recognised Palestine.

On Tuesday, EU ombudsman Emily O'Reilly will find out if her term in office is to be renewed. MEPs will hold a secret ballot on handing the post for five more years.

O'Reilly, who is the only candidate, has over the past year shaken up the position, making it much more high-profile and pro-active. She has made transparency her key issue, pushing for light to be shed on the ongoing EU-US trade talk and lately opening an investigation into the EU's handling of corruption allegations at Eulex, its rule of law mission in Kosovo.

EU foreign ministers will meet Monday with Iraq, Syria and IS the main topics on the agenda - how to deal with EU-based fighters heading to Syria and Iraq to fight for Islamic State has proved a huge political challenge for governments.

Ministers will also discuss the situation in Ukraine amid reports that Moscow is lobbying some member states to oppose a renewal of sanctions against Russia next year.

Fish ministers will also gather in Brussels for their traditional end-of-year gathering to discuss fishing quotas and stocks for the coming year.

Europe braces for far-right Italy This WEEK

The far-right Brothers of Italy, which dominates the conservative alliance, is set to be the largest single party, and has widened its lead over the centre-left Democratic Party (PD).

State of Union and Hungary's democracy in focus This WEEK

MEPs will also hear from Finland's prime minister Sanna Marin on her vision for Europe, and vote for the Renewable Energy Directive on Tuesday, in an effort to cut energy needs and speed up the use of renewable energy.

Energy and inflation in focus This WEEK

The ECB is expected to raise the interest rate by 75 basis point, its steepest single rate hike since the creation of the euro, as the bank struggles to fight increasing inflation.

News in Brief

  1. More Russians now crossing Finnish land border
  2. Report: EU to propose €584bn energy grid upgrade plan
  3. Morocco snubs Left MEPs probing asylum-seeker deaths
  4. EU urges calm after Putin's nuclear threat
  5. Council of Europe rejects Ukraine 'at gunpoint' referendums
  6. Lithuania raises army alert level after Russia's military call-up
  7. Finland 'closely monitoring' new Russian mobilisation
  8. Flights out of Moscow sell out after Putin mobilisation order

Stakeholders' Highlights

  1. UNESDA - Soft Drinks EuropeCall for EU action – SMEs in the beverage industry call for fairer access to recycled material
  2. Nordic Council of MinistersNordic prime ministers: “We will deepen co-operation on defence”
  3. EFBWW – EFBH – FETBBConstruction workers can check wages and working conditions in 36 countries
  4. Nordic Council of MinistersNordic and Canadian ministers join forces to combat harmful content online
  5. European Centre for Press and Media FreedomEuropean Anti-SLAPP Conference 2022
  6. Nordic Council of MinistersNordic ministers write to EU about new food labelling

Latest News

  1. Ireland joins EU hawks on Russia, as outrage spreads
  2. Editor's weekly digest: Plea for support edition
  3. Investors in renewables face uncertainty due to EU profits cap
  4. How to apply the Nuremberg model for Russian war crimes
  5. 'No big fish left' for further EU sanctions on Russians
  6. Meloni's likely win will not necessarily strengthen Orbán
  7. France latest EU member to step up government spending in 2023
  8. Big Tech now edges out Big Energy in EU lobbying

Join EUobserver

Support quality EU news

Join us