Schaeuble Says EU Growth Boost May Require EIB Capital Increase
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The European Union won’t repeat “old mistakes” that didn’t work in the past to counter a worsening of the economic environment, German Finance Minister Wolfgang Schaeuble said.
The 28-member bloc will wait for the European Investment Bank and the European Commission to draw up a list of “concrete” investment projects by year-end and then decide how they can be financed, the minister told reporters before a meeting of euro-zone finance ministers in Luxembourg. The European Stability Mechanism, the currency bloc’s financial backstop, won’t be tapped, he said.