EU finance ministers discuss investment plan
MILAN (AP) — European finance ministers are discussing proposals for leveraging private investments to relaunch the continent's moribund economy.
Italian Finance Minister Pier Carlo Padoan told reporters at a meeting Saturday of finance ministers from the 28 EU nations that most of the resources for the envisioned investment fund would come from private sources.
Padoan said the ministers were focusing on ways governments could leverage those investments. That could include incentives, regulatory simplification and better use of public money. Padoan said "it is up to governments to facilitate private investments."
European ministers are holding their first meeting since European Central Bank chief Mario Draghi outlined a three-pillared strategy to save the eurozone economy.
Saturday's session was focusing on a proposal for 300 billion euros ($388 billion) in investments to revive the economy.