Italian Prime Minister Silvio Berlusconi pledged today to give priority to promoting investment in pan-European transport and energy projects to boost economic growth during Italy's six-month presidency of the European Union.
Mr Berlusconi gave no figures for the investment plan, already outlined by Economy Minister Giulio Tremonti, but he told the European Parliament that the EU needed to reconcile growth measures with monetary and fiscal rigour.
"We cannot hide the fact that there are lasting weaknesses in our economic structures, which are characterised by growth rates that are much lower than those forecast," the billionaire businessman-turned-politician said.
"The first (priority) is the need for greater support in the economy through an increase in public and private investment with the cooperation of the European financial institutions, above all the European Investment Bank.
"Such a strategy must be based above all on a relaunch of the Trans-European Networks," he added.
The network projects, first agreed in 1994, are designed to overcome natural barriers such as the Alps, the Pyrenees and key waterways, as well as re-connecting western and eastern Europe. But investment has been relatively slow so far because of a failure to agree on how to finance the programme.
The Italian leader made no explicit mention of the EU's Stability and Growth Pact, which limits member states' budget deficits to three percent of gross domestic product, but he did say the EU had to stick to fiscal prudence. As Mr Berlusconi began to address the legislature in the French city of Strasbourg, Green members of the Parliament protested against his taking over the EU presidency, raising banners and jeering.
About 15 ecologist lawmakers held up placards in Italian declaring "La legge e uguale per tutti" (The law is equal for all) and "No godfathers".
The Italian leader, who had been on trial for allegedly bribing judges over a 1980s business deal, has just rushed a law through parliament granting himself and other top state officials immunity from prosecution while in office.