Investment in Europe down by over 400 bln euro - EP President

BRUSSELS, Dec 18 (KUNA) -- European Parliament President Martin Schulz Thursday lamented that volume of investments in Europe has dropped significantly due to the economic crisis, noting that the US and China are much ahead of Europe in investment.
"We have come together in Brussels today to discuss the Investment Plan for Europe that was launched in the European Parliament on the 26th of November," he told a meeting of EU leaders this evening.
"Due to the crisis, the level of investment has fallen by about 430 billion Euros since its peak in 2007. The investment levels of today remain worryingly depressed. "Europe is already lagging behind the USA and China. They are outspending us today to outcompete us tomorrow," he warned.
Schulz said the "Investment Plan is ultimately about people: It is about ensuring that the 25 million Europeans who are still unemployed will find a job again; it is about raising millions of Europeans out of poverty; it is about ensuring that our children will have a good future." The second topic that the EU leaders will discuss today is Ukraine. "Only a combination of dialogue, diplomacy and sanctions can lead to a peaceful resolution of the conflict," said Schulz.
He called on the EU to start working on another package of possible targeted sanctions against Russia to be prepared should the conflict escalate any further.
Meanwhile, French President Francois Hollande, told journalists on arrival that this EU summit will discuss the 315 billion euro plan proposed by European Commission President Jean-Claude Juncker to re-launch investment, to lead to the energy transition, for the digital market.
"This was a major French demand. It was a wish that I had expressed many times since June 2012. We finally come to a successful plan and I would like to salute the Commission's efforts to go fast with this," he said.
The economic situation "is on one side favourable. Oil prices are low, the euro has lost value regarding the US dollar - and that's an advantage - and we have interest rates that are very low," Hollande noted.
"But there is a situation in Russia. You know that I have been to Moscow and together with German Chancellor Merkel to try to find a way out of the Ukrainian crisis," he said.
"So, I believe that today, if the signs are sent by Russia as we expect it, there is no need for new sanctions, and that we should, on the contrary, see how we can also engage in a de-escalation. "The interest of all, of Ukraine, of Russia, and of Europe, is that there are quick solutions that can be found," the French leader added. (end) nk.gb