Statement by Commissioner Damanaki following her meeting with Greek Prime Minister Loukas Papademos
"I had a discussion with Prime Minister Loukas Papademos about the need for immediate implementation of a European Commission initiative concerning the absorption of EU funds and the creation of new jobs.
This initiative follows my proposal to the Commission in cooperation with the European Investment Bank, tabled in September 2011. It concerns the creation of a Guarantee Fund that, with EU funds, would leverage the financing of investments for new jobs. We have a responsibility towards our fellow citizens who are facing unemployment: they would not understand further delays in the implementation of this proposal.
I also addressed with the Prime Minister the need to overcome obstacles delaying the absorption of the EU funds. We have succeeded, after great effort, to increase the EU contribution for infrastructure projects up to 95%, to eliminate problems related to the national participation and co-financing.
Therefore there cannot be any excuse towards our fellow citizens for keeping EU funds unused."