EU's Juncker - investment plan doesn't preclude need for budget consolidation

BERLIN (Reuters) - European Commission President Jean-Claude Juncker said on Monday that the European Union's investment programme did not preclude the need for budget consolidation. Speaking at a conference of the European Investment Bank (EIB) in Berlin, Juncker said that "anyone who thinks that a somewhat looser monetary policy and an investment plan will relieve governments" of the need to pay attention to budget consolidation and structural reforms was very much mistaken. Last year, Juncker unveiled a plan aimed at generating 315 billion euros (230 billion pounds) of investment in European infrastructure projects. (Reporting by Stephen Brown; Writing by Michael Nienaber; Editing by Alexandra Hudson)