Juncker's EU investment plan risks failure

Brussels

NEW European Commission chief Jean Claude Juncker has made a 300-billion-euro (S$483 billion) investment plan a centrepiece of his five-year agenda, but days before a highly awaited unveiling doubts are rife that it can deliver.

Two years after the eurozone debt crisis, the economy is flatlining and unemployment is high, while the lack of response by European Union leaders has again become a concern for the world.

The stakes are huge for the EU, the world's largest economy, its 500 million citizens, and global markets.

The heart of the problem in the 28-nation EU is a drastic lack of investment, which remains way off pre-crisis levels, in stark contrast to the US and emerging economies.

"The EU is crying out for new investment," said Jan Randolph, an analyst at IHS Global Insight in London.…