Archive | September, 2014

The rollback of transparency

BRUSSELS – Transparency, once a ‘conditio sine qua non’ for democracy and good governance, is suffering a clear backlash in Europe. By Xavier Sol and Ana Colovic, originally appeared on EU Observer In a post-Occupy, post-Wikileaks world, transparency has nestled in the public consciousness. Outraged by the abuses of power, people took to the streets […]

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First EU project bonds fail and will cost Spain EUR 1,4 billion

First EU project bonds pilot project fails Cost will fall on Spanish citizens as government goes for most expensive option EU responsibility in increasing Spanish debt is overwhelming The pilot phase of the European Project Bond Initiative was launched by the European Commission and the European Investment Bank (EIB) in 2012 as an instrument to […]

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EIB transparency review: CSO submission

Five years after the implementation of its transparency policy, the EIB has committed to review it. Despite considerable efforts by the bank to improve its transparency by signing the International Aid Transparency Initiative (AITI) and the launch of an online registry of environmental documents, other structural improvements are necessary. Moreover the revised draft policy by […]

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Europe’s finance ministers urged to stop EIB’s ‘extraordinary’ slide towards secrecy

Campaigners across Europe are urging the European Commission and their finance ministers to halt a dangerous slide towards secrecy of the giant European Investment Bank (EIB), of which the EU member states are owners. The already secretive bank is proposing to make it far harder for European citizens to find out what it is up to, […]

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Europe’s finance ministers urged to stop EU Bank’s ‘extraordinary’ slide towards secrecy

  Campaigners across Europe are urging the European Commission and their Ministers of Finance to halt a dangerous slide towards secrecy of the giant European Investment Bank (EIB), of which the EU member states are owners.   The already secretive Bank is proposing to make it far harder for European citizens to find out what […]

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Transparency Policy Review – Letter to EIB directors

Campaigners across Europe are urging the European Commission and their Ministers of Finance to halt a dangerous slide towards secrecy of the giant European Investment Bank (EIB), of which the EU member states are owners. Read the full letter here

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Where now for the Project Bonds Initiative?

As  the  pilot  phase  of  the  Project  Bond  Initiative  descends  into  acrimony  amid  the closure of its flagship pilot project, the recent downgrading of the Castor bonds to junk status and the Spanish government’s announcement that it expects to compensate investors  for  the  project,  it  is  hard  to  imagine  that  this  is  what  the  European […]

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Corporate interest on way to win over the EU bank’s transparency policy

In the draft version of its new transparency policy the European Investment Bank is making access to information on its tens of billion euros lending harder than ever. The European Investment Bank is currently reviewing its transparency policy dating from 2010, and running a public consultation on the matter, which was started in early July […]

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