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- Ελληνικά
The European Parliament Week, co-organised by the European Parliament (EP) and the current Belgian Presidency of the Council of the European Union (EU), continues and concludes today in Brussels.
The first plenary session discussed strategic investments and reforms to boost the EU's growth potential. The Chair of the Parliamentary Committee on Finance and Budget made the following intervention. In order for the EU to deliver on its strategic objectives, it is crucial to bridge the investment gap faced by EU Member States to achieve the dual transition, to harness public resources and to mobilise private investment effectively.
The EU should prioritise funding for projects with proven added value and cross-border benefits for the EU, such as cross-border energy and connectivity infrastructure. I take this opportunity to highlight the estimated cross-border benefits expected from the implementation of the "Great Sea Interconnector" - a landmark project partly funded by the EU to connect the electricity grids of Cyprus, Greece and Israel and aimed at ending Cyprus' energy isolation and integrating it into the European energy grid.
It is also crucial for the EU to effectively address the current shortcomings as a consequence of the overlapping objectives of the strategic investment programmes. The creation of a permanent strategic investment fund under the next Multiannual Financial Framework (MFF) is also imperative. The European Investment Bank can play a key role, as it has the necessary expertise and tools to effectively manage and evaluate strategic investment projects on the basis of their added value for the EU and their contribution to its strategic objectives. In this context, the lessons learned from the implementation of the InvestEU programme should also be used. In addition, progress on the introduction of new EU own resources should be accelerated, both to repay the debt for the NGEU and to adequately finance its strategic objectives.
Deepening and extending the EU's single market for goods and services is also crucial to maintaining and further strengthening the Union's global competitiveness. In addition, the integration of the Banking Union is crucial for increasing the financial capacity of Member States. However, this is not enough. The development of more integrated capital markets is also crucial for exploiting economies of scale, simplifying the framework for cross-border investment and, most importantly, for financing higher-risk projects. Finally, the EU must ensure that Member States' differing fiscal capacity does not jeopardise their ability to deliver important milestones and European strategic projects, in particular in the areas of connectivity and climate.
The current momentum ahead of the EP elections should be used to review the EU's long-term investment strategy, taking into account that the next MFF should be agreed in 2026, which coincides with the expiry of the NGEU."
(Text as sent by the House of Representatives)
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