European Commission Investment Plan Could Create 2.1 Million Jobs by 2018

A European Commission (EC) investment plan aimed at mobilizing 315 billion euros (approximately 357 billion U.S. dollars) in private and public investment across the European Union (EU) has the potential to create over 2.1 million new jobs by mid-2018, according to a recent report by the International Labour Organization (ILO). The plan, which aims to boost Europe's competitiveness and tackle the jobs crisis, could complement the European Central Bank's (ECB) quantitative easing program by stimulating the real economy directly. However, the ILO emphasizes that the plan's success depends on its effective design and implementation.

Key Takeaways:

The European Commission's investment plan has the potential to create over 2.1 million new jobs by mid-2018, as stated by the International Labour Organization (ILO).
The plan aims to mobilize 315 billion euros (approximately 357 billion U.S. dollars) in private and public investment across the European Union (EU).
To achieve its goals, the plan must be well designed and implemented effectively, according to Raymond Torres, head of the ILO's research department.
Three conditions must be met to ensure the plan's success: encouraging private investment, tackling the sources of high unemployment, particularly by involving small and medium-sized enterprises, and rebalancing policy-making in Europe towards fostering growth and quality jobs.
Without effective implementation, the plan's impact on unemployment would be limited, as highlighted by the ILO official.
The plan's potential to boost Europe's competitiveness and tackle the jobs crisis makes it a crucial component in addressing the EU's employment outlook.

Statistics:

2.1 million: The estimated number of new jobs that could be created by mid-2018 through the European Commission's investment plan, as stated by the ILO. (Source: ILO report)
315 billion euros: The amount of private and public investment that the plan aims to mobilize across the European Union (EU).
357 billion U.S. dollars: The approximate value of the investment plan's target amount in U.S. dollars. (Source: XINHUA)
2018: The projected mid-point by which the plan aims to create over 2.1 million new jobs. (Source: ILO report)

Sources:

International Labour Organization (ILO)

+ Report: Not specified in the provided text

European Commission (EC)

+ Investment plan: Not specified in the provided text

European Central Bank (ECB)

+ Quantitative easing program: Not specified in the provided text

XINHUA NEWS AGENCY