Statement by Vice President Rehn following the Eurogroup's agreement on the sectoral programme for Spain
Today's unanimous endorsement by the Eurogroup of the sectoral programme for Spain opens the way to the necessary recapitalisation and repair of the country's financial sector. The aim of this programme is very clear: to provide Spain with healthy, effectively regulated and rigorously supervised banks, capable of nurturing sustainable economic growth.
President Barroso and Vice-President Rehn welcome the European Parliament's final vote on Project Bonds
President Barroso and Vice-President Rehn have welcomed today's European Parliament vote on the European Commission proposal for a Project Bonds Initiative. The President said: "With the European Parliament’s final vote, the project bonds now become reality. €4.6bn will be available between now and the end of 2013 to finance concrete infrastructures for energy, transport and broadband. Together with the other elements of the Growth and Jobs Compact agreed by last week European Council, we have now concrete instruments to boost our economy and invest in our future. It is very positive that Member States and Parliament have agreed on this key Commission’s proposal in less than 10 months. The Commission has proposed to extend this pilot phase for 2014-2020 with a €50bn budget."