Poland says new EU investment fund is underfunded
Poland’s finance minister Mateusz Szczurek warned on Tuesday that the EU’s new European Fund for Strategic Investments (EFSI) is underfunded. He called on EU member states to support the new growth plan of EU Commission president Jean-Claude Juncker with own means. In return, member states should be given guarantees that their contributions to the fund will not be counted as part of the national deficit in terms of EU budgetary discipline, Sczurek demanded. cep expert Matthias Kullas warns that the Stability and Growth Pact risks losing its binding force and, thus, its credibility if ever more public spending is not taken into account. “Capital markets won’t be fooled anyhow by this kind of window dressing,” Kullas argues. See also our latest cepBlog.