funds will be available in 2012 and 2013 (including final down payments until 2015). For the time being some 25 % of the Regional Funds are not even allocated. Even more important, not all the volumes being allocated will be drawn down because of delays and difficulties linked to the crisis. In the framework of an immediate program to recover growth, the task ought to be to rededicate these funds and channel them for activities for growth. It has been estimated that up to € 80 billion are available for such re-use. To achieve this task, more flexibility by national and European administrations is required. What is also needed is targeted regrouping of funds into economically viable projects, especially “shovel ready” ones in areas such as: