Can large infrastructure overcome the crisis?
Large infrastructure projects are at the core of the European plan to drag the ‘old continent’ from one of the most profound periods of crises in modern Europe.
According to the European Commission, in order to meet its Europe 2020 objectives, the European Union’s infrastructure investment needs could reach as much as EUR 2 trillion in the sectors of transport (TEN-T), energy (TEN-E) and information and communication technology (ICT).
What is the objective of such investments? Commission President Barroso advocates “sustainable growth,” suggesting a continuation of old policies to serve an agenda liberalising capital markets, spurring economic growth from open markets and where infrastructure is seen as a vehicle of trade and limitless growth. In spite of the crisis, the vision has not changed.
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