Brussels, 15/07/2005 (Agence Europe) - Unveiling its annual report on the European Union on 14 July, the Italian Institute of Economic Studies and Analysis (ISAE) looked at the feasibility of a plan to get the European economy booming by spending EUR 100 bn by 2010, according to reports in ItaliaOggi. The funding would include EUR 25 bn in long-term EU bonds and would be used to meet the targets of the Lisbon Strategy, particularly the trans-European networks, big R&D projects and investment in training. The remaining EUR 75 bn would come from national and EU budgets, private funding and the European Investment Fund. The action plan may be unveiled by the Italian government at an upcoming EU finance minister Council.
In terms of feasibility, ISAE looked at the establishment of an independent ad hoc agency, along the lines of the US National Science Foundation, which would have the job of implementing the growth plan. The sources of funding would make up variable proportions of the whole depending on the type of investment made. The EIB would play a dual role - raising funding on the international market and co-funding projects. In its annual report ton the European Union, ISAE does not share the view that the EU budget should be restricted to 1~% of gross national product in the enlarged EU.