19/03/2009 (Agence Europe) - In a press release diffused before the European Council, Luxembourg Green member Claude Turmes says the battles surrounding the €5 billion of the Barroso Plan (…) announce a new race towards the smallest European common denominator. He added: “The lack of solidarity with the economies and citizens of eastern and southern countries is particularly irritating as these are countries that suffer the most from the crisis. The interpretation of 'geographical balance' which is along the lies of 'net contributors' to the European budget (Germany, France, Italy) is a purely political manoeuvre that only aims to sweeten the clan of Mr Barroso's supporters made up of Mr Sarkozy, Ms Merkel, Mr Berlusconi and Mr Brown to the detriment of the countries of Eastern Europe, Greeece and Spain”. In his view, the €5 billion should above all be used to form a “guarantee fund” for loans, a sort of “Eurobond” managed by the European Investment Bank (EIB). With one billion from the European budget, one could cover the risk of €15-20 billion in loans on investments for construction or renewable energies. (O.J./transl.jl)