Juncker to Unveil EUR 300 B Investment Plan Ahead of No Confidence Vote

EU Commission President Jean-Claude Juncker is set to announce what he describes as an investment package of EUR 315 B for the next three years.

The so-called "Investment Plan" is aimed at boosting the growth of EU economy by 0.7 to one percent and opening a million new jobs.

EU institutions are expected to only provide a small chunk of the money. Juncker's idea does not involve raising and setting aside EUR 315 B, but just EUR 60 B from the European Investment Bank (EIB) via "EU guarantees" issued by the Commission itself.

The remainder will probably be secured from public and private investment.

Experts composing an "investment committee" will be in charge of evaluating Juncker's proposal.

The project has met mixed reception, with some analysts doubting its feasibility.

Wednesday's voting will come just hours before a vote of no confidence against Juncker over tax avoidance schemes carried out in Luxembourg while he was the country's Prime Minister.

Juncker's press conference at the European Parliament in Strasbourg will be aired live starting at 11:00 CET / 12:00 EEST.