EU plans € 5 billion new investment in broadband & energy infrastructure in 2009-10

Commission President José Manuel Barroso said: "The EU's Recovery Plan is all about 'smart investment' – a short-term stimulus targeted on long-term goals. That is exactly what the Commission has adopted today: a list of specific projects to direct € 5 billion of unspent money from the EU budget to build a stronger Europe for the long term. We need to learn the lessons of the recent gas crisis and invest heavily in energy. We also need to stimulate the European economy by providing information highways in rural communities.