The cost of connecting European transport network grew some 16,8% over initial projections, building up to 400 billion Euros. Nevertheless, Barrot pointed out that investments in transport infrastructure have actually fallen from 1,5% of GDP in 1980 to 0,5% of GDP today. Increased investments in infrastructure are needed or Europe will fall behind targeted reduction of its overall greenhouse gas emissions by 20% by 2020. “If you don’t have true corridors, you’ll have trouble making the shift from road to rail,” Barrot explained.
This month, European Commission should present a package of measures intended for “greening” of transport sector. Some of these measures could help raising the revenues needed for transport infrastructure. Key aim of the measures will be internalization of external costs of transport and revenues could be used in infrastructure financing. However, there was no agreement on this idea so far.
