US$392b plan to kickstart European economy

Strasbourg

NEW EU Commission chief Jean- Claude Juncker on Wednesday unveiled an eagerly awaited US$392 billion investment plan to "kickstart" the economy, saying it would show the world that Europe was back in business after years of crisis.

Mr Juncker said the proposal, which must be approved by European leaders at a summit in December, would mix an investment fund with a scheme to match new projects with private money.

"Europe needs a kickstart and today the commission is providing the jump cable," Mr Juncker told the European Parliament in Strasbourg, France. "We need to send a…