Brussels, 29/06/2016 (Agence Europe) - On Tuesday 28 June, the European Council called upon the European Parliament and the member states to “urgently examine” the proposals for the future of the European Fund for Strategic Investments (EFSI), the financial arm of the 'Juncker' investment plan.
The President of the European Commission, Jean-Claude Juncker, said that there was renewed “global support” for the major European economic priorities, in particular the extension of the European investment plan, which is designed to draw down €315 billion in additional investments over three years. “We did not decide today that it should be prolonged, but the general remarks were very helpful and promising. We'll come back to the issue in September”, he said.
In early June, the Commission announced its intention of extending the life of the 'Juncker' plan beyond 2018 and that it would make legislative proposals to this effect in the autumn (EUROPE 11563).
The Twenty-Eight also approved the roadmap on the finalisation of banking union in the Eurozone, which also provides for measures to reduce financial risks (EUROPE 11575).
Finances. The European leaders do not wish to prevaricate over the legislative proposals aiming to revitalise the securitised financial products markets, a key measure of the planned Capital Markets Union. In their conclusions, they state that these proposals, and the one to simplify the requirements for publishing investment prospectuses, should be approved by the end of 2016. Whilst all the member states have reached their position on the 'securitisation' proposal (EUROPE 11445), the EP is not planning to launch into-institutional negotiations before 2017 (EUROPE 11572). (Original version in French by Mathieu Bion)