BRUSSELS
EU finance ministers approved on Tuesday the details of EU’s 315 billion-euro ($388 billion) investment plan meant to revive the 28- nation bloc’s economies.
EU Economics Commissioner Pierre Moscovici said in a statement on Tuesday: "The plan is the answer we need to confront the main handicap of the European economy -- the lack of investment."
Investment in the European Union has fallen by 15 to 20 percent since 2008, according to Moscovici.
The 315 billion-euro investment plan, which will run for four years, aims at mobilizing more private and public investment and at facilitating job growth and competitiveness.
European Commission vice president Jyrki Katainen said in a news conference after the ministers met in Brussels on Tuesday: "This is a very good day indeed, the council (of ministers) just decided to go with the proposal."
"It is clear now that all the member states share the same view (as) the commission, that we need investment in Europe," Katainen said.
The investment plan is expected to be launched in June or July 2015.
