It was announced only recently that the EIB will provide funding for the M18 gort-tuam motorway, and for the N7/N11 project.

It’s not for all 27, but for those that are in trouble and in the euro zone I think?

Gis, read the article above, it clear states that the €120bn is no just for the 17 eurozone countries but for the whole the EU 27 states!!

sorry that should read: clearly states …… and not just for …..

HeHe.

Italy still is heading for 137% debt to GDP within 18 months. All the Med is still locked in a currency that is up to 30% over vauled for them, their economies are still collapsing, and the need for them to either leave or have a transfer union, like a normal currency zone remains. That that transfer union can only compensate the southern countries for being in an over valued currency by taking up to a qtr of the core counties spending is quiet a big problem.

This prog. is can kicking, it is just that they have kicked the can a good bit further this time. I certainly would not dare to presume that the Euro has all of a sudden become a stable currency, just because of 750 bn bailout fund and a 1% investment prog.

So let’s do absolutely nothing, and you’ll cease your complaining, yes? I don’t think so. Suggest a better alternative rather than rejecting out of hand other people’s solutions.

Karlswell, I never said do nothing, re-read my previous comment. We are focussing on all the wrong things.
What is being done to stop the corruption and bloated wages within our Govt? Nothing.
What is being done within the banks that we are bailing out to stimulate investment and to ensure that the high paid Directors are not rewarded when they make mistakes? Nothing.
Based on the scale of the crisis that the EU is facing what will 120 billion solve? Nothing.
Because greedy and corrupt men and women messed up, Innocent Men and Women that played no part in the mess we are in have to watch our Political “tool” Representatives hand away our sovereignty as we go with the begging bowl to the EU. The only people that seem to be benefitting from the mess we are in is the people that caused it.
The solution that you are hailing is nothing, will solve nothing and is only there to keep weak willed people like you happy in the false belief that our representatives actually have solutions, when in truth they are flying by the seat of their pants.

It is just a very small stimulus but it does show that the EU/ECB are waking up to the fact that their is a crisis and that the have wasted the last 4 years.

While this will be leveraged up, the problem is that much of it is already in the system and that it is piling more debt on top of debt.

This plan is not even remotely going to solve the crisis but it is at least the first attempt in years that the EU have made at addressing the crisis. If the EU announce say a several trillion investment and debt write off prog. then we will be starting to get serious. Spain’s banks are borrowing 300bn a month from the ECB.

That’s right, Peeeedoff, because the elected clowns of Fianna Fail were so much better!