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Ombudsman launches investigation against EIB

Originally published on Euractiv. By Janie Matthews The EU’s watchdog is investigating the EIB for maladministration after three NGOs submitted a complaint this week. European Union Ombudsman Emily O’Reilly sent a formal letter opening the case on 27 February after ClientEarth, CEE Bankwatch Network and Counter Balance highlighted the bank’s lack of transparency and its […]

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Southern Gas Corridor’s dubious contribution to energy security

Originally published on Euractiv. Advertised by the EU as the silver bullet that will free Europe from its dependency on Russian gas, the Southern Gas Corridor (SGC) is highly unlikely to ensure energy security and might in fact end up channelling Russian gas, warns Xavier Sol. While proudly presenting the “Second report on the State […]

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Turkish gas companies with corrupt past get World Bank loan

Originally published on Climate Home. Businessmen who have secured contracts to build massive gas pipeline linking EU and Azerbaijan were convicted for tender rigging and bribery. By Karl Mathiesen The World Bank has approved $800m in loans for a gas pipeline through Turkey and Azerbaijan that will be built by several companies with a history of corruption scandals. […]

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Why the EIB should not deal with the migration crisis

Originally published on Euractiv. The EIB is not well placed to intervene in the migration crisis. The bank’s past form shows it lacks the human touch needed to succeed in this area, writes Xavier Sol. Sparking the most diverse reactions, from a concerning burst of xenophobia to exceptional waves of welcoming generosity, the so called […]

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Entrevista – Xavier Sol: “El brazo financiero de la UE facilita la evasión fiscal, mientras la Comisión trabaja contra ella”

David Penado / 27-09-2016 El director de Counter Balance evalúa la forma en qué se ha estado invirtiendo el dinero de todos los europeos a través del Banco Europeo de Inversiones (BEI). Counter Balance es una alianza de 9 ONG, como el Observatorio de la Deuda en la Globalización (ODG), especializadas en el campo del desarrollo […]

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European Investment Bank: time to open up

Originally published on Public Finance International. By: Xavier Sol  28 Sep 16 The silent giant of the EU’s economy, the European Investment Bank, needs to be less secretive, more accountable and firmer about corruption. If trust in a common European future is to be rebuilt, the perceived democratic gap between citizens and institutions has to […]

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