Increasing co-financing rates for EU funds - boosting European economic recovery
The European Commission agreed to measures that should make a significant contribution to getting some of the EU's most troubled economies back on track. Under the proposal, six countries that have been most affected by the crisis and are benifiting - or benefited - from the European financial assistance: Greece, Ireland, Portugal, Romania, Latvia and Hungary, would be asked to contribute less to projects that they currently co-finance with the European Union during the period of assistance (for Romania, Latvia and Hungary retroactively).
New programmes and programmes that have not been executed so far for lack of national funding may be launched and inject fresh money in the economy. The EU contribution would be increased to a maximum of 95% if requested by a Member State concerned. This should be accompanied by a prioritisation of projects focusing on growth and employment, such as retraining workers, setting up business clusters or investing in transport infrastructure.