Germany's Schaeuble says everything must be done to stabilise EU

Author: Mike Paterson | Category: News

German finance minister speaking from the Eurogroup summit in Bratislava

  • Eurogroup has had intensive exchange on state of EU
  • support amongst EU members to resist sweeping changes

"We must make sure that the British referendum doesn't result in a further weakening. It's clear we must do everything to stabilise the EU and that's only possible at the level of the 27, there is a wide consensus on that.

There's a broad consensus among a large part of the member states that now isn't about making grand, theoretical plans of what could be done if there's no way to have treaty changes. The EU must focus instead on solving the urgent problems inc the refugee crisis."

Schaeuble highlighting the uncertainty and contagion fears of many post-Brexit vote.

  • Ecofin and EIB discussed ways to improve Juncker fund

The so called Juncker Plan was introduced in Nov 2014 and is the EC investment plan that:

  •  focuses on removing obstacles to investment,
  •  providing visibility and technical assistance to investment projects and making smarter use of new and existing financial resources.

To achieve these goals, the plan is active in three areas:

  • mobilising investments of at least €315 billion in three years
  • supporting investment in the real economy
  • creating an investment friendly environment.

More detail at the EC website here 

      Schaeuble - EU must be stabilised

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