The Council approved the strategic investment plan for the European Union

19.12.2014 | 01:19

    • Share

Brussels, 18 December 2014 – The heads of state and government of the Member States of the European Union approved the plan for improving the investment environment at the European Council meeting in Brussels today.

By means of the plan submitted by the European Commission, it is expected that new investments of the European public and private sector will be made in the amount of 315 billion euros over the next three years. This is intended to stimulate the economy and encourage the creation of new jobs.

Prime Minister Taavi Rõivas said that Estonia in principle supports the Commission’s investment plan, assuming that there is a clear link between the overall objectives of the European Union. He expressed the opinion that in order to achieve the objectives of the investment plan, it is particularly important to involve the private sector and combat the barriers that inhibit investments.

“Estonia is in favour of improving investment activity and environment in the European Union,” Prime Minister Rõivas said. “Increased investment activity would boost the European economy and contribute to the creation of many new jobs.”

Rõivas added that the investments must support the development of the European Union’s single internal market, meaning the construction of energy and transport connections and the completion of structural reforms.

The Prime Minister also emphasised that the investment plan must not endanger the fulfilment of the Stability and Growth Pact rules.

“The conditions established with the Stability and Growth Pact must not be loosened, since this could jeopardise the national fiscal sustainability,” Rõivas said.

The heads of state and government of the European Union also discussed Ukraine-related topics. It was noted that the situation in the eastern part of Ukraine is still very worrying and, therefore, the current policy towards Russia must be continued with.

“It is very important that particularly Russia meets the provisions of the Minsk Protocol, including its promise to withdraw its troops and weapons out of the territory of Ukraine,” Rõivas said.

The European Union heads of government were unanimously in favour of the continuation of sanctions against Russia. Similarly to the uniform attitude towards the sanctions issue, the European Union leaders were certain of the need to continue supporting Ukraine. The heads of government expressed their appreciation for the Ukrainian government’s promise to implement political and economic reforms.

Prime Minister Rõivas shared the view of many heads of state that Russia’s actions are still unpredictable. At the meeting, he drew the participants’ attention to the fact that Russia'’ provocative and dangerous behaviour has significantly increased in the Baltic Sea region.

Photos from the European Council can be seen here:

Villu Känd

Government Communication Unit