Spain Seeks 60 Billion of Juncker’s Alleged 315 Billion Development Fund; Vaporware Funding

Jon Blogosphere, Economy, Geopolitics, Government

Yesterday, Spain Requested 60 Billion of Juncker’s Alleged 315 Billion Development Fund.
Via translation from La Vanguardia …
Economy Minister, Luis de Guindos, said Tuesday that Spain has submitted projects worth around 60 billion euros to the President of the European Commission, Jean Claude Juncker, who aims to mobilize 315,000 billion euros.
Guindos stressed the priorities for the Government are energy interconnections, transport and R & D. Juncker said the plan is a “key initiative” of the new Commission, “with the appropriate times, quickly and effectively.”
Vaporware Funding
Spain wants 60 Billion. How much will France want? Greece? Portugal? Germany? How far will 315 Billion go?
The answer is not far. As I commented on November 24, Juncker’s 315bn EU Slush Fund is 299bn Sleight of Hand Magic…

This post was published at Global Economic Analysis on December 10, 2014.