Archive | October, 2013

Roundtable: the EU development agenda

Counter Balance, Eurodad, ALOP and MEP Ivailo Kalfin would like to invite you to the roundtable The EU development agenda: The external lending mandate of the European Investment Bank and the rise of blending mechanisms   Thursday 7 November 2013, 12:00-15:00 Room ASP 5G 305 European Parliament, Brussels As negotiations on the next external lending […]

Read more

Project bonds threaten financial and real earthquakes

The use of one of Europe’s first project bonds to help finance a gas storage plant off Spain’s coast has run into trouble. This does not bode well for the future use of such bonds, or the types of project that they are being used to finance, write Elena Gerebizza and Xavier Sol. Elena Gerebizza […]

Read more

First infrastructure project financed by the EU 2020 Project Bond Initiative under attack by civil society in Spain

Brussels – Several Spanish civil society groups have sent an open letter [1] today to the European Investment Bank (EIB) and the European Commission (EC) questioning the Castor Project in Spain because of its environmental impact and the potential costs involved for Spanish tax payers. The Castor Project is a EUR 1,634 bn gas storage […]

Read more

How embarrassing: EBRD transparency ranked ‘poorest’ among multilaterals

As the EBRD revises its safeguard policies, the Aid Transparency Index ranks its commitment to openness and transparency as the weakest in comparison with similar institutions. Originally appeared on Bankwatch website, by Fidanka Bacheva-McGrath, EBRD campaign coordinator The 2013 Aid Transparency Index came out last week and confirmed my suspicion that the EBRD was starting […]

Read more

The EIB loan to BNDES: Learning lessons for the next external mandate of the Bank

In a previous article, Counter Balance raised awareness about a loan of 500 million Euros from the European Investment Bank to the Brazilian development bank BNDES and the uncertainties related to it. We have now gathered more precisions about the status of this loan – not a single euro has been spent – and the […]

Read more

EU lists ‘key’ energy projects amid criticism

By Valentina Pop, originally appeared on EU Observer Brussels – The European Commission on Monday (14 October) listed 250 “key” energy infrastructure projects eligible for quicker EU funding to the tune of €5.8 billion in the next seven years. “Our vision is that Europe should have a cross-border dimension in the field of electricity and […]

Read more

Picture Europes Energy future – And the winner is….

“How would YOU picture Europe’s energy future?” was the question we asked you in July. You answered us generously in the form or original, beautiful and challenging pictures with messages of hope and despair at the same time. Perhaps it really is up to us and the people we put in power how we will […]

Read more

Financialisation is on the march again

Originally appeared on EU Observer BRUSSELS – It is very much open to question whether Albert Einstein could have got his head around the exotic financial instruments, the notorious ‘casino’ paraphernalia, that brought the global economic house down in 2008. But consider some practical advice of his: “We cannot solve our problems with the same […]

Read more