EU: The Taoiseach, Mr Ahern, has welcomed an EU plan to boost economic growth by investing in infrastructure, despite the fact that only two Irish projects have been approved for immediate aid, writes Denis Staunton in Brussels
An improved rail link between Belfast, Dublin and Cork and a "Motorway of the Sea" to improve maritime links with Spain and Portugal are on the Quick Start list approved by EU leaders in Brussels yesterday.
Mr Ahern said that the list of projects, for which the EU will pay 20 per cent of the cost, could be expanded in the future.
"Two Irish projects - the Cork-Dublin-Belfast road and rail link and the Ireland-UK electricity interconnector have the potential to be added to the list and we are looking at other programmes in the broadband and research and development areas which we hope could be included also," he said.
The Taoiseach also welcomed a call to EU member-states and the Commission "to act rapidly to eliminate technical, legal, administrative and accounting obstacles" to the implementation of public-private partnerships.
This could lead to a review of EU accounting rules that make it difficult for the Government to part-fund infrastructure projects without breaching the EU's Stability and Growth Pact.
The EU plan, called Action for Growth, will release €62 billion for the priority projects to be launched over the next three years and funded through a combination of EU and national funds, European Investment Bank loans and private money.
Italy's prime minister, Mr Silvio Berlusconi, hailed the plan as an important step towards boosting economic growth in the EU.
"This is the first economic policy action taken in the European Union since its inception. This will help gross domestic product, will help employment, will facilitate communications within the European Union and with the new EU members," he said.
The priority list includes projects such as rail tunnels through the Alps, high-speed railways but also cross-border gas and electricity links and innovative research projects such as hydrogen power and laser technologies.
The EU will contribute from its budget with up to 20 per cent for cross-Border project, while the EIB has pledged to help with long-term loans. The EU hopes 40 percent of the overall costs will come from the private sector.
The European Commission, which drafted the details of the plan, said more projects could be added to the list once they fulfilled a set of agreed criteria.
" As soon as new projects meet the criteria the list can be completed," a spokesman said.