Archive | March, 2011

Are the EU’s public banks fit to support southern Med’s new democrats?

Appeared in the Guardian The European Investment Bank and the European Bank for Reconstruction and Development have failed to prevent corruption and social injustice The European Union plan for financial aid to the southern Mediterranean region risks perpetuating the same corruption and social injustice that the pro-democracy movement in north Africa and the Middle East […]

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Banking is not a tool to support democracy

Appeared in New Europe Over the next three years, the European Commission is planning to channel seven billion euro for the Southern Mediterranean through the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD). But the track record of these two banks raises serious questions over their ability to support democratisation […]

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Advocacy groups oppose larger North Africa role for EBRD, EIB

By Sebasitan Tong for Reuters A loose coalition of advocacy groups is urging shareholders of two European Union-backed banks to halt plans to expand lending in North Africa as too little attention has been paid to the democratic credentials of recipient countries. Non-governmental organisations (NGOs), including EU-funded CEE Bankwatch Network, issued a joint statement on […]

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by Maged Helal

European public banks must stay out of Southern Mediterranean

Several EU officials have put forward the EIB and the EBRD to finance the transition in the Southern Mediterranean. Not a very good idea if you consider the banks’ methods and the bad track records in crucial areas for the promotion of democracy in the region. The following documents give you a clear overview of […]

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EU public banks not fit to finance transition in Egypt and Tunisia

This position paper by Counter Balance and CEE Bankwatch Network expresses our concerns regarding the European Commissions’ plans to involve the EIB and the EBRD in financing the transition in the Southern Mediterranean. Read it here to understand why we think these institutions are not fit for the job.

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NGOs call for investigation into EIB’s financing for the Mediterranean region

Counter Balance and CEE Bankwatch Network are calling for an investigation into the European Investment Bank’s (EIB) financing in the Southern Mediterranean region in the past, before giving the bank a leading role in distributing European financial support for the region. “The benefits from the EIB’s involvement in the region have been doubtful”, says Caterina […]

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Counter Balance submission to Public consultation on the external dimension of the EU energy policy

Counter Balance contributed to the public consultation on the external dimension of the EU energy policy with a brief paper: Energy Security Or Energy Grab? The European Commission’s View of Our Energy Future, and What it Means for People, Politics and the Planet. Executive Summary Though it touches on energy efficiency and renewable sources, the […]

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Keep European public banks out of Mediterranean region, say NGOs

This week, EU leaders are meeting to agree on a common response to events in the Mediterranean. A coalition of Western and Eastern European NGOs* issues a serious warning that the European Investment Bank and the European Bank for Reconstruction and Development are not the right institutions to financially support the transition in the Middle […]

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Boosting funding for Mediterranean reform

By Ian Wishart in European Voice The European Investment Bank wants the EU to release more money for projects in the southern Mediterranean, a region in which it is already the largest lender. Philippe de Fontaine Vive, the vice-president of the European Investment Bank (EIB), is to visit Tunis today (3 March), where he will […]

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Support for ‘off-balance’ projects?

The EIB describes its mission as being “to further the objectives of the European Union by making long-term finance available for sound investment… Through our own lending operations and our ability to attract other financing, we widen the range of funding possibilities.” This suggests that at least two principles should be at the heart of […]

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