Breakthrough announced on slimmed-down Connecting Europe FacilityJuly 3, 2013
Ireland’s transport minister announced on 27 June a “significant breakthrough” with the European Parliament on a new regulation that will see almost €30 billion in EU funding targeted at enhancing the transport, energy and telecoms networks, under the so-called Connecting Europe Facility (CEF).
The minister, Leo Varadkar, announced that the three parties – the Council where member states sit, the European Parliament and the Commission – had reached agreement on a compromise text for the facility.
The CEF is the biggest victim of the austerity push in the 2014-2020 EU budget. The facility was slashed from €50 billion in the Commission’s initial proposal to €41.2 billion in a second version presented by European Council President Herman Van Rompuy (read more).