first_img Guy Bentley A €300m (£236m) investment programme proposed by incoming EU president Jean-Claude Juncker will form the basis of the bloc’s fiscal union, a senior EU politician has said.In an interview with EUobserver, Laszlo Andor, the EU’s commissioner for employment, social affairs and inclusion, said Juncker’s effort to create an investment programme “is an attempt to bring in elements of a fiscal union without calling it a fiscal union”. “If we are honest, we will say publicly that this money either has to be printed or transferred,” Andor added.Juncker called for the investment package back in July, in an attempt to revive the ailing European economy. The programme would kick-start the “reindustrialisation of Europe” he said.The cash will be raised from a variety of sources including existing budgets and the European Investment Bank. Andor favours a large-scale investment programme to reverse what he sees as the damaging effects of austerity.He argued Germany had a critical role to play in stimulating growth:By boosting investment at home, Germany would do a big favour to itself but also to the rest of the community at the same time.However, he conceded a fiscal stimulus programme would be insufficient without action from the European Central Bank to counter the risk of deflation.He said this would be challenging given that “whenever it wants to function as a central bank immediately finds itself under fire and the subject of various legal attacks”. Monday 27 October 2014 1:40 pm Jean-Claude Juncker’s €300bn plan forges path for fiscal union Share More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes whatsappcenter_img Show Comments ▼ whatsapp Tags: Jean-Claude Juncker People by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMedical MattersThis Picture Shows Who Prince Harry’s Father Really IsMedical Matterszenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comYahoo! SearchResearch Car Donation For CharitiesYahoo! SearchThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar Programinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.comMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Weeklast_img