By Reynolds Holding
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
Euro zone finance ministers meet in Brussels to discuss member states’ 2015 budget plans. We know the European Commission thinks France, Italy and Belgium are breaking EU deficit rules but will defer decisions on any action until March. At that point, France could face a multi-billion euro fine and Italy and Belgium be put on a disciplinary programme.
New European Commission President Jean-Claude Juncker will unveil his investment plan for the bloc to the European Parliament today which aims to generate 315 billion euros of investment and lift growth onto a higher plane. The details were put out last night and there’s no new money in it. Instead, 21 billion euros of funding is expected to leverage private investment of a whopping 15 times that amount.