President Barroso also reiterated the importance of "stronger action for the deepening and the enforcement of the single market."
He set out three practical EU-level measures to boost job-creating investment. First, putting into practice the Commission's proposals for project bonds, which would "make funds available now while avoiding putting extra pressure on public finances…..a contribution of €230 million from the current EU budget could be used to attract funding of up to €4.6 billion over the next two years for key infrastructure projects in transport, in energy and in the digital area."
Second, the EC President called for an increase in the lending capacity of the European Investment Bank. "Boosting its paid-in capital by at least €10 billion would make available much needed funding in support of job creation, particularly if targeted at small businesses."
Thirdly, he urged Member States and the European Parliament to "agree an EU budget for the next seven years that shifts the focus of spending to growth enhancing measures."