In follow-up to EUROCITIES event on barriers to long-term investment, held at the European Parliament on 8 March, we addressed an open letter – together with Polis and CEMR - to the EU institutions and other key actors.
The letter calls for more flexible budget and financial accounting rules to enable cities to boost local investment, and thereby deliver long-term benefits, ensure growth, raise employment rates, and improve services across Europe.
Sending out this message, we stress that long-term investment at local level should be at the heart of discussions about the future of the European Monetary Union, the second phase of the European Fund for Strategic Investments (EFSI), and the future negotiations on the Multiannual Financial Framework (MFF) post-2020.
Tanja Wehsely, EDF chair and councillor for the City of Vienna, commented, “We are convinced that EU funds and EIB loans must fit our systematic integrated policy approach, and not the other way around. Sustainable long-term public investments are not only good for our citizens, but also for the economy in general.”
Long-term investment was also a subject of political discussions last month at our EDF spring meeting in San Sebastian.