Archive | January, 2015

EIB set to weaken transparency standards

Brussels — One week before the European Investment Bank’s board of directors is expected to approve the bank’s new transparency policy, 11 civil society groups* monitoring the EIB warn that, as it stands, the draft policy amounts to a weakening of the already dismal transparency standards of the EU’s house bank. In a letter sent […]

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UPDATE 7: Juncker on the investment offensive … against Europeans, the economy and the environment

Labelled the €1.3 trillion investment offensive, more than 2000 projects have been identified by the European Commission’s new Task Force on Investment (made up of representatives of the EC, EIB and member states) for fast-tracked financing from President Juncker’s recently announced €315 billion stimulus plan. But far from being a series of economically credible, environmentally […]

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Pipe Dreams: Why the Southern Gas Corridor will not reduce EU dependency on Russia

Brussels – The Southern Gas Corridor*, the EU’s new pet energy project, is not only unnecessary in light of gas demand projections, but also seems likely to fall short on the much flaunted goal of bringing energy independence from Russia, according to a new NGO study “Pipe Dreams”* published today. According to calculations included in […]

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Energy security for Europe or profit for Lukoil?

Despite the Russian invasion in Ukraine leading to EU and US sanctions against Moscow and major Russian energy companies, public banks supported by EU countries are just gearing up to offer a one billion dollar loan to Russian company Lukoil for gas extraction in Azerbaijan. By Fidanka Bacheva-McGrath EBRD campaign coordinator Half a billion dollars […]

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