Former Prime Minister Alfred Sant told the European Parliament that the Juncker Plan is further emphasizing the structural divergences that already exist between the economies of southern Europe and those of central Europe. Dr Sant said there is too great a concentration of projects in the bigger economies of the Single Market, with southern and other peripheral small economies practically not featuring at all. “Indeed, one could claim that the “European Fund for Strategic Investment” (EFSI) is providing an example of how under EU initiatives, a transfer of resources from the periphery to the centre is occurring, further emphasizing structural divergences.” remarked the Maltese MEP during the debate ‘Mid-term review of the Investment Plan at the European Parliament.

One year on from the launch of the “European Fund for Strategic Investment” (EFSI), better known as the Juncker Plan, MEPs voiced sharply divided verdicts on the progress of the €315 billion investment plan for Europe in a debate with EU Commission Vice-President Jyrki Katainen.

“I am among those who are very disappointed with the outcomes of EFSI’s first year. The Commission’s euphoria about the results cannot be reconciled with the reality. But I am unsurprised things have turned out this way. The financial fundamentals of EFSI, based on relatively insignificant “own” funds, levered extensively through guarantees to surpass 300 billion euros with private capital, militate against a choice of projects considered by markets as having low payoffs or too risky. The institutional fundamentals of EFSI, tied into the European Investment Bank framework, constrain the Fund to follow the EIB operational model. The claim is that some low risk, longterm infrastructural projects launched by EFSI would have featured as an EIB project otherwise. Similarly projects have been concentrated in infrastructural areas which can only be considered as “safe”. For them, non-EFSI finance could easily have been found.” remarked Dr Sant.

Most of the approved projects have been in large EU countries, namely in France, Germany, Italy, Spain and the UK. To date Malta has not benefitted from the Juncker Plan.

ALFRED SANT: “Too great a concentration of projects in the bigger economies of the European Union”

Maltese Version – IS-SUD TAL-EWROPA INJORAT FIL-‘PJAN JUNCKER’

Il-Pjan ta’ Juncker qed iżid id-diverġenzi strutturali diġa` eżistenti bejn l-ekonomiji tal-pajjiżi tas-Sud u dawk tal-Ewropa Ċentrali. Dan qalu l-Kap tad-Delegazzjoni Laburista Alfred Sant waqt li l-Parlament Ewropew iddiskuta l-Pjan Juncker sena wara t-tnedija tal-‘Fond Ewropew għall-Investiment Strateġiku’, magħruf bħala l-Pjan ta’ Investiment ta’ Juncker. Dr Sant qal li l-konċentrazzjoni tal-proġetti ttieħdu mill-ekonomiji l-kbar tas-suq wieħed, bil-pajjiżi tas-Sud, reġjuni fil-periferija u pajjiżi b’ekonomiji żgħar prattikament ma jidhru mkien f’dawn il-proġetti. “Wieħed jista’ jistqarr li l-‘Fond Ewropew għall-Investiment Strateġiku’ qed jipprovdi eżempju ta’ kif, taħt l-inizjattiva tal-UE, ir-riżorsi qed ikunu trasferiti mill-periferija għaċ-ċentru tal-Ewropa. Dan qed jenfasizza aktar id-diverġenzi strutturali li diġa` jeżistu fl-Ewropa.” qal l-Ewroparlamentari Malti.
Membri Parlamentari Ewropej esprimew opinjonijiet varji dwar it-tmexxija tat-€315-il biljun tal-Pjan Juncker waqt dibattitu mal-Viċi President tal-Kummissjoni Ewropea Jyrki Katainen.

“Jien wieħed fost dawk diżappuntati bir-riżultati ta’ din l-ewwel sena tal-Pjan ta’ Investiment. Il-ferħ ewforiku tal-Kummissjoni Ewropea għar-riżultat ma jaqbilx mar-realta`. Ma nistgħaġibx li l-affarijiet ġraw b’dan il-mod. Il-pedamenti finanzjarji ta’ dan il-pjan, magħmul mill-fondi ‘tagħna’, huma relattivament insinjifikanti. Dawn il-fondi ġibdu lejhom garanziji li jaqbżu s-somma ta’ 300 biljun ewro flimkien mal-kapital privat. Qed issir ħidma militanti biex ma jintgħażlux proġetti li fis-suq huma kkunsidrati riskjużi jew li jrendu ftit.

Il-pedament istituzzjonali tal-Pjan ta’ Investiment huwa marbut mal-qafas tal-Bank Ewropew ta’ Investiment, li jġegħluh jimxi mal-mudell operazzjonali tal-istess Bank. Il-punt hu li ċertu proġetti infrastrutturali li mhumiex riskjużi u li tnidew mill-Fond Ewropew ta’ Investiment, kienu jsiru xorta taħt il-kappa tal-Bank Ewropew ta’ investiment. Bl-istess mod, il-proġetti kkonċentraw f’oqsma strutturali li huma mingħajr riskju. Għalihom, setgħu jinstabu faċilment fondi li mhumiex mill-Pjan ta’ Investiment.” qal Dr Sant.

Ħafna mill-proġetti approvati ttieħdu mill-pajjiżi l-kbar, l-aktar minn Franza, il-Ġermanja, l-Italja, Spanja u r-Renju Unit. Malta sa issa għadha ma bbenefikat bl-ebda mod mill-Pjan Juncker.

ALFRED SANT: ‘Il-parti l-kbira tal-proġetti marru fl-ekonomiji l-kbar tal-Unjoni Ewropea.’

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