Big inequality in EU investments, lacking feasible projects

There's a large amount of inequality in EU investments, said European Commission vice-chair responsible for Energy Union Maroš Šefčovič at a press conference in Bratislava on Thursday. An investment package recently announced by Commission President Jean-Claude Juncker and the so-called Connecting Europe Facility (CEF) are designed to support investments in transport and energy infrastructure, with Slovakia allocated a total of €743 million for transport-related projects, said Šefčovič. Pointing out that in 2013 the EU invested a sum €430 billion lower than the one seen in 2007. Despite this, he's convinced that there's enough money in saving accounts, pension funds and financial houses, but what's lacking are good and "ripe" projects with the potential to attract private investors. "The reason why investments are down is a lack of certainty. There was great anxiety - will the crisis come back or not? Who will insure the risks surrounding the investments?" stressed the European commissioner.