6. Warns against continued disproportionate, across-the-board and badly targeted austerity measures undermining investment capacities of key economic players; strongly believes that European ‘project bonds’ can help unlock further financial resources to fund targeted European growth and innovation policies, to trigger the flow of private capital into real investment, and to safeguard the stability of the euro area and the sustainable coordination of the Member States’ budgetary discipline; expects the EC and the EIB to do their utmost to ensure a swift and successful implementation of a pilot phase in 2012-2013; recalls that the EU bu ...[+++]dget contribution remains capped and strictly limited and does not create any extra contingent liability on the EU budget; calls on the Commission to establish a sustainable growth and anticyclical facility of 1 % of GDP/year for 10 years;

4. The Bank may guarantee loans contracted by public or private undertakings or other bodies for the purpose of carrying out projects provided for in Article 309 of the Treaty on the Functioning of the European Union.

It may grant loans or guarantees only:

It may grant loans or guarantees only:

4. The Bank may guarantee loans contracted by public or private undertakings or other bodies for the purpose of carrying out projects provided for in Article 309 of the Treaty on the Functioning of the European Union.

In that regard, it is my view – and later today we have the possibility in the Conference of Presidents to meet the President of the Convention – that we must ensure as a Parliament that the Convention itself in its open work is the primary platform, is the main way, is the open discussion that leads to the way forward.