President of the European Commission, Jean-Claude Juncker, asked for the Stability and Growth Pact to be applied with common sense and flexibility to the benefit of EU, in order to protect financial growth.

Addressing the European Parliament, Mr. Juncker proposed a “positive agenda” for the coming year, if Europeans want to overcome the tragic divisions which have opened up in recent months and to show to the world that Europe is still a force capable of joint action.

He proposed to double the duration of the European Fund for Strategic Investments and double its financial capacity providing a total of €620 billion of investments by 2022.

Referring to the Cyprus issue EC president stressed that Europe is a driving force that can help bring about the unification of Cyprus.