In much of Europe there is no need for a complete overhaul of classical  4  BIS central bankers’ speeches  infrastructure, but many places are lacking in modern digital infrastructure. It would also be possible to divert already available EU structural and regional funds.
These growth-enhancing measures will only have an effect once a critical mass of elements have been put into place. The form of the elements is less important. As you will remember, the fiscal compact has been signed by 25 countries. For the EIB or the EU budget to be used, all 27 Member States are needed.