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Junker’s new investment plan merely a smokescreen – Ní Riada

26 November, 2014 - by Liadh Ní Riada MEP

Speaking form the European Parliament in Strasbourg today, Liadh Ní Riada, MEP for Ireland South criticised the announcement made by Commission President Jean-Claude Junker of a € 315 billion Investment Plan and said that it is simply delusional.

 Ní Riada said:

 "Junker intends on taking €16 billion from the EU budget to fund this package. Let´s not forget that the Budget Committee has practically fallen apart and we are still waiting on the Council to present us with the latest draft budget which will undoubtedly contain more cuts. All the while member states, SMEs, research centres, universities are still awaiting payment. People are waiting for what they have been promised and not for smokescreens to distract from previous shortfalls.”

 "There is also the issue of the huge deficit of €23.4 billion that needs to be addressed. The EU must be able to pay its debts and this proposal from Junker will do nothing to help the situation.”

 "Yes we absolutely need investment. Sinn Féin have been consistently calling for this. This proposal however is not the way to go about it as it will create nothing more than a financial bubble. Junker having oversight over this is like throwing the fox in the hen house considering that as the President of the Commission which presided over the worst austerity crisis while enabling tax havens. It is nothing but a recipe for disaster.

 "It would appear that for the Commission it is simply ´business as usual´ but what we need is a public investment programme and an end to austerity."

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