Europe: which projects and why?

Guntram Wolff, Director, Bruegel:

The methodology that supposedly is applied is that it’s not political projects, it’s based on objective criteria. Now I think frankly it’s very difficult to think of bureaucrats that define just objective criteria and do the methodology for these investments and at the end of the day we have to let the markets decide. We have to invest and the State has to set the frame book conditions right and has to get private investment going. Overall I think the public sector should really focus on the key areas where the private sector is not delivering and that is certainly green investment, where the incentives are just not there at the moment to do a lot of green investment so there the public sector has to be tough and has to make clear choices and recommendations and in that direction I think the .. the commission that selects these projects is going, so I wouldn’t be totally negative on it, but ultimately for anything that’s not a public good problem, you have to let the markets take decisions.