Luxembourg fin min Pierre Gramegna has warned that using the ESM fund for investment projects is not the best idea and would rather leverage the EIB to help with the growth agenda.
“The ESM is really there for something else. It’s their to guarantee the stability and you don’t want to jeopardize that. I think it’s a difficult one,”he said.
There have been calls from some quarters to use the ESM to boost investment projects but doing so would be to dip into the ‘rainy day’ fund and that’s not what it’s there for. It’s typical Europe thinking that the crisis is over so they don’t need the protection anymore.
MNI have the interview with him from Washington
