July 15, 2014 / 8:40 AM / 3 years ago

EU's Juncker calls for 300 bn euro investment programme

STRASBOURG, France, July 15 (Reuters) - Designated European Commission President Jean-Claude Juncker called on Tuesday for a 300 billion euro ($409 billion) public-private investment programme to revive the European economy, create jobs for the young and stimulate growth over the next three years.

The money should be mobilised from existing budget resources, the European Investment Bank and the private sector, without changing the bloc’s strict rules on budget deficits and debt reduction, he told the European Parliament during a debate on his confirmation to head the EU’s executive.

“We need a reindustrialisation of Europe,” the former Luxembourg prime minister said, promising a work programme in February 2015 for investments in energy, transport and broadband networks and industry clusters.

$1 = 0.7331 Euros Reporting by Robin Emmott; Writing by Paul Taylor

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