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Three European Parliamentary Committees will discuss the Investment for Europe this week in Brussels. The Economic and Monetary Affairs (ECON) Committee and Budgets (BUDG) Committee will hold a joint first debate on the proposed European Fund for Strategic Investments (EFSI) today, with MEPs discussing the proposal of how to finance the ‘Juncker plan’. Similarly, members of the Industry, Research and Energy Committee of the European Parliament will discuss the creation of the EFSI during its two day meeting which begins today. The ECON committee is responsible for helping to pass the legislation, whilst both the BUDG and ITRE committees will express an opinion on the proposed regulation and feed into the debate. He said Europe had to face "the challenge of a generation" head-on, without a money-printing machine, and described his plan as the greatest effort in recent EU history to trigger additional investment without changing the rules.The plan would take the burden off national governments, already facing big debts after the financial crisis. The Commission and the European Investment Bank (EIB) would create the fund's €21bn reserve, according to Mr Juncker, which would then enable the EIB to fund loans worth €63bn.
More on this story Watch: Juncker addresses MEPs 26 November 2014 Has Juncker over-hyped EU investment? The life of singer Prince, who has died aged 57, has been marked with purple-coloured tributes. But UK Prime Minister David Cameron said the parliament had usurped the right of government leaders to choose the EU's top executive. Mr Juncker was prime minister of Luxembourg from 1995 to 2013 and one of the architects of the euro.
Early in his political career he worked for Prime Minister Pierre Werner, who helped to forge the Franco-German bond at the heart of the European project. In a high-profile TV debate on 15 May Mr Juncker said he had worked "night and day" to rescue Greece.According to Mr Leyers, at the height of the crisis he was working 14 hours a day and that took a toll on his health. The deputy Prime Minister Louis Grech announced that apart from the Marsamxett project, other projects that can benefit from the European Investment Plan, known as the Juncker Plan, are being explored. Mr Grech announced the plans during a joint press conference with the European Commission Vice President Jyrki Katainen who is promoting the European Investment Plan in Malta.


Referring to the Marsamxett harbour, Mr Grech said that it is not being fully utilised and has a great potential to generate economic activity. The European Commissioner for Environment and Maritime Affairs, Karmenu Vella, agreed with this view. During the press conference, the Deputy Prime Minister said that within three more months the Development Bank will be set up and will be a source of financing for small and medium size enterprises. Vice President Katainen and EU Commissioner Vella participated in a meeting with business representatives on investment opportunities provided with the Juncker Plan.
Katainen said a umber of infrastructural projects have already been approved, while various intermediary bank will support the access of funds to businesses in the European Union. Commissioner Katainen also had a courtesy meeting with the Opposition leader Simon Busuttil.
A 43-year-old woman from St Paul’s Bay in danger of saying after she was involved in a traffic accident in Xemxija. The Mayor of Rabat in Gozo, Samuel Azzopardi, suspended himself from the Nationalist Party and resigned as mayor. The Nationalist Party said that the Prime Minister had lied to defend Minister Konrad Mizzi and Keith Schembri. The investment scheme seeks to unlock public and private investments, and includes the participation of co-rapporteurs Udo Bullmann and Jose Manuel Fernandes of the ECON committee. MEPs will hold an exchange of views on the plan towards the end of the morning session on Tuesday. Mr Juncker hopes most of the rest of the money will come from private backers.Only €16bn of the original money would come from the European Union budget. Private investors would be expected to put forward the lion's share of the money, some €252bn. It was an effort to make the European elections more relevant to voters and give the EU more of a "human face".


In the past that choice was made behind closed doors, and by unanimity, without a formal vote.Mr Juncker is a controversial figure, as a leading advocate of deeper EU integration, and is often called a "federalist".
But according to Pierre Leyers, financial editor of the daily Luxemburger Wort, it is misleading to call him a "federalist". Mr Werner came up with a plan for monetary union which was later developed by Jacques Delors. He has also defended the Common Agricultural Policy, saying agriculture employs about 30 million Europeans. However, critics doubt it can attract so much private investment.There was immediate scepticism from the European Trade Union Confederation (ETUC) whose General Secretary, Bernadette Segol, suggested the Commission was "relying on a financial miracle like the loaves and fishes".
Although a vote against him is due to take place at the European Parliament on Thursday, it is unlikely to attract widespread support. A veteran of Brussels deal-making, he headed the powerful Eurogroup - the eurozone finance ministers - at the height of the eurozone crisis, when crucial decisions were taken about austerity and bailout conditions.Force behind euro In a speech setting out his agenda for the EU on 15 July he stressed that the euro "protects Europe" and he praised former Commission president Jacques Delors, the man credited with launching the single currency. Mr Juncker went on to become one of the world's longest-serving democratically elected leaders. Mr Leyers argues that coming from a tiny country has enhanced Mr Juncker's influence in the EU, odd though that may seem to people unfamiliar with Brussels politics.Luxembourg was a founding member of the community which became the EU and, sandwiched between France and Germany, "it had no choice but to try to be on good terms with its neighbours", Mr Leyers said. The negotiations are controversial, amid widespread European anxiety about powerful US corporations.'Social' EuropeMr Juncker is a strong advocate of a European "solidarity" union - an EU that strives to raise living standards in its poorest regions and sectors.
The big test is whether they will invest in Europe where the economy is stagnating and confidence is low.
His greatest EU challenge has been shoring up the eurozone since the 2008 financial crash, when Greece's colossal debts, and those of other struggling eurozone countries, threatened the very survival of the single currency.



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