European Investment Bank: Funds need to address unemployment, poverty and homelessness
GUE/NGL MEPs welcomed the 2014 Annual Report of the European Investment Bank, yet called for funds to address unemployment, poverty and homelessness to be prioiritised above subsidising multinational companies.
Portuguese MEP, Miguel Viegas, expressed some of the contradictions in this area of EU policy: "Economic governance at EU level is impeding member states from taking measures to relaunch their economies. We are at an impasse and there are no prospects to bolster European growth on a solid foundation."
"75 billion euros have been invested in several hundred companies through the European Investment Bank, but this is only a drop in the ocean compared to the investment shortfall that exists in Europe."
"In addition, regarding the distribution of those funds, there is no geographic balance and smaller companies are missing out as the funds are mainly going to larger companies with 3,000 or more employees."
Irish MEP, Luke 'Ming' Flanagan, gave his prescriptions for improvement: "The major source of employment across the European Union is small and medium enterprises. The best way to grow our way out of the malaise that is currently afflicting the EU is through expanding support for SMEs."
Irish MEP, Liadh Ní Riada, added: "Levels of unemployment, poverty and inequality are increasing. I appeal to the European Investment Bank to adopt a realistic strategy and invest in projects that will have the highest social and economic impact while boosting the economy. We must help the homeless as a priority."
GUE/NGL Press Contact:
Nikki Sullings +32 22 83 27 60 / +32 483 03 55 75
Gay Kavanagh +32 473 84 23 20