Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-11-Speech-4-046"

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"en.20101111.4.4-046"2
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"Madam President, Commissioner, ladies and gentlemen, I believe that the decision to use the few remaining funds in the Recovery Plan started in 2009 in a different way and to take advantage of this opportunity to introduce a new principle with the setting up of an ad hoc fund is far-sighted and in line with what we have been saying for some time in this Chamber but have never been able to act on. We have seen a few timid signs, not yet brought up to date, in the Marguerite Fund. This represents, for us and for the PPE, a benchmark method to be followed for intelligent use of the European Union budget. The instrument is an ad hoc fund that deploys various methods such as loans, guarantees, equity shares or cofinancing, and will be governed by a special asset management company. The fund was set up with an initial sum of EUR 147 million and we do not understand why the door cannot be left open for the other residues due to the Recovery Plan. A significant sum could be raised by applying significant leverage through the EIB, the KfW, the Deposit and Loan Banks and other financial institutions, and this could have a great impact on the start-up of projects considered valid and given economic and environmental priority. From my point of view, the central aspect of the fund that will be set up by the end of this year is that it could become a kind of virtuous pilot project for the future organisation of a broader energy fund for appropriate inclusion in the next financial perspective 2014-2020. This principle could also be repeated for other sectors, such as TEN or eTEN networks. If you would allow me, some tangible sign at this critical time in the face of an employment crisis would make us all a little happier."@en1
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