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How Italy supports economic growth in Europe

Rome commits 8 billion Euros for the European Fund for Strategic Investments (EFSI)

How Italy supports economic growth in Europe

Claudia Astarita

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Italy has announced it will give a 8 billion Euros contribution to projects benefiting from the European Fund for Strategic Investments (EFSI) as part of the bigger investment plan of 315 billion Euros for Europe.

Italy is the fourth country that will subsidize the Fund, and it manifested its support even before it was officially created.

Jyrki Katainen - vice-president of European Commission - publicly declared high appreciation for the Italian commitment to the investment plan, supporting economic growth, working opportunities and economic stability within the EU.

Italy is ready to invest its money in a project in which it believes. In particular, the national bank for Italian promotion - known as Cassa Depositi e Prestiti (CDP) will transfer the remarkable sum, being the guarantor of much of the Italian national economy. In fact, state banks play a fundamental role in allocating funds in Europe since they have the required competences to make sure that public resources are used as effectively as possible.

As specified above, Italy has been the fourth contributor preceded by Germany (assigning 8 billion Euros through its Kreditanstalt für Wiederaufbau), Spain (contributing 1.5 billion Euros by means of l'Instituto de Crédito Oficial) and France (giving out 8 billion Euros through Caisse des Dépôts and Bpifrance).

In spite of the economic crisis paralyzing effects on European economy as a whole as well as on the single states, this initiative has a remarkable value. Countries like Italy - which were and are still experiencing hardships - are willing to take a challenge and to allocate what they have to support a common purpose.

There is no doubt that in a complex scenario like the current European one, everybody needs to cooperate and to mobilize the available resources to support investments.

Among the most active protagonists, the European Commission which is in the forefront to face this trial with a new approach based on three pillars, i.e. economic balance responsibility, investments and a continuous economic growth.

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