J.P. Morgan Asset Management - The Weekly Brief

01.12.2014 13:25 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Papier schlägt Stein: Die Initiative von Herrn Junker enttäuscht im Vergleich zu denmöglichen Effekten der Bilanzausweitung der EZB. Der neu eingerichtete Europäische Fonds für strategische Investitionen dient dazu, die Nachfrage innerhalb der Eurozone durch Finanzierung neuer Infrastrukturprojekt e anzuregen. Geplant ist, ihn mit 21 Mrd. Euro aus dem EU-Haushalt sowie der Eur opäischen Investitionsbank auszustatten, um innerhalb der nächsten drei Jahre 315 Mrd. Euro für Infrastrukturprojekte zu mobilisieren. Der Erfolg des Programms wird von der Bereitschaft der Privatwirtschaft abhängig sein, das Defizit von 248 Mrd. Euro zu tragen sowie der Fähigkeit der EU, Projekte zu identifizieren, die Wirkung ze igen und das Wachstum fördern, wo es am nötigsten ist. Es ist noch ein we iter Weg, bis das Ziel der EZB Anleihen im Wert von einer Billion Euro aufzukaufen erreicht ist, dennoch wird sich die Aufmerksamkeit der Märkte weiterhin eher auf Herrn Draghi als Herrn Junker richten.

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