Remember this name:

Jean Claude Junckers ! (And please do not pronounce it as you would if he were English.)
Jean Claude was, until recently, the Prime Minister of Luxembourg. A small country in the North-West of Europe, housing about 500,000 Luxembourgers.
This small Principality recently was best known as just about the best Tax haven for the largest corporations and the richest individuals, not only of Europe, but also of America. And who do you thinks made it possible that so much money flowed almost totally tax free into Luxembourg ? Jean Claude; that's who.
As the Premier and also the Minister of Finance he passed, almost single handedly, Laws and Rules and Regulations which caused these firms to pay next to no taxes at home.
In a simplified version, that's how it worked:
Corporation XYZ operating, say, in Germany made huge profits, for which taxes would have been payable in accordance with the tax laws of Germany.
So, clever XYZ set up their head office in Luxembourg and this head office charged the German daughter huge licence and other fees, until there was almost no profit to declare in Germany. All the Profits had been channeled to Luxi, where Jean Claude made certain that no, or minimal taxes had to be paid there.
What a neat and dirty trick. I have not heard of Junckers having worried about his dirty hands, and I truly wonder if JCJ did all this out of the goodness of his heart, or if there were, by any chance, some other reasons for his governmental largess.
All this had become public knowledge about a month after Mr. Junckers was elected to the position of "Commission President of the European Union. A pretty important job, I would say.
So, instead of being charged with aiding and abetting Tax evaders he gets to be the top cooky in Europe.
Of course he claims that everything was done completely legally. It might be reasonable to assume that if I can pass the laws, everything I will do, will be completely legal.

Now Jean Claude Junckers comes up with a brilliant idea: The EU will make available a 315 Billion Euros "Growth package" which will pull Europe out of the financial stagnation in which it finds itself.
How will this happen ? Where will this considerable amount come from ?
Quite simple: The European Union will provide 16 Billions Euros, the European Investment Bank will chip in another 5 Billion. That makes it 21 Billions. Quite a way short of 315 Billion, you say?
Not a problem: Mr. Junckers expects a "leverage effect" through which the private sector, encouraged by Guarantees of the EU and the EIB will invest on a ratio of 1:15.
And here is the 315 Billion (with a B). Why did he not "assume" a ratio of 1:20 ? Then he could have raised even  more money to fight, as he says Unemployment in Europe.
Since public money will guarantee  the investments of the private sector, a ratio of 1:15 he says, may well be expected. Is this not a little bit like dreaming in technicolour?

I tell you what happened in Austria: The Government guaranteed Bank Loans for investments in the East block countries. The most hair raising investments were undertaken, which from the out set had little, if any hope to succeed. But substantial fees could be charged and much money could flow into private hands.
When the investments failed, the Government had no choice but to fork over the guaranteed amounts..
Is any of the East block Countries now richer and better off than they were before? I rather doubt it.
Maybe I do not understand the totality of Mr. Juncker's plan. But as I see it, it will be just another boondoggle for which, in the final analysis, the European tax payer must bleed.

I've heard of the miraculous increases in fish and bread, but in Euros?

For Europe's sake, I hope that I am wrong and Mr. Junckers can perform this miracle.

so hopes

Bertstravels.