Archive | April, 2016

Parliament gets tough on control of EU Bank’s funds

In its annual resolution on the European Investment Bank adopted today in Brussels, Members of the European Parliament have criticised the bank’s support to projects under corruption investigations. They also called on the EIB to go further on fighting climate change, tax evasion and tax dodging. Counter Balance and CEE Bankwatch Network welcome the positions […]

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Counter Balance Activity Report 2015

2015 has been a productive year for the Counter Balance coalition. Read here about our achievements and our objectives! In the letter below our Director, Xavier Sol, outlines the main highlights of our work in 2015 and explains the challenges awaiting us in 2016. “Scrutinising European public investment banks and pushing for their reform is […]

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For European public finance, where will all roads lead from Paris?

By Fidanka McGrath (EBRD policy officer), Anna Roggenbuck (EIB policy officer) and Markus Trilling (EU funds policy offer, originally published by Bankwatch. Signing the Paris Agreement is an important step in Europe’s contribution to the global effort to tackle the climate crisis. But funding this commitment necessarily passes through the public coffers. To kick-start the […]

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Highway to hell – European money fuelling controversial infrastructure projects

Counter Balance and Re:Common are glad to announce the launch of their latest report “Highway to Hell”. Providing an in-depth analysis of two major infrastructure projects in the Veneto region in Italy, the report focuses on the corruption and state capture issues related to them. Both the Passante di Mestre and the Mose projects have […]

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Counter Balance raises concerns on control of infrastructure projects at European Parliament’s public hearing

Yesterday, Wednesday 20 April, Counter Balance intervened during a public hearing at the European Parliament on the “Control of projects and implementation of EU funds in the area of infrastructure and transport – effectiveness and problems”. Organised by the Parliament Budgetary Control Committee chaired by Ingeborg Grässle, the hearing hosted among others representatives from the […]

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La folie des grandeurs : quand l’union européenne promeut des mégaprojets à l’utilité contestable

En février 2015, la Commission Européenne lançait en fanfare sa nouvelle initiative phare : l’Union de l’énergie. Celle-ci devait concilier l’objectif de bénéficier d’une énergie « plus sûre, abordable et durable » tout en rendant l’économie européenne « plus durable, sobre en carbone et respectueuse de l’environnement ». Un an plus tard, le soufflé est retombé et il semble que […]

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New Aid Transparency Index published: EIB and EBRD scoring better, but still a long way to go

As the 2016 Aid Transparency Review shows some improvement for the two main European lenders, they are still far from reaching satisfying transparency standards. As each year since 2010, the transparency watchdog Publish What You Fund (PWYF) went again knocking on the doors of the world’s major donor organisations to check how well they implement […]

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Lost in transition: Far-reaching changes needed as European bank marks 25 years

On April 15, the European Bank for Reconstruction and Development (EBRD) will be marking its 25th anniversary. Reflecting on two decades of monitoring the EBRD’s policies and projects, a new report from CEE Bankwatch Network raises concerns about a growing gap between the bank’s operations and its mandate. The full report Lost in Transition: 25 […]

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Call to financial authorities to intervene on controversial project bonds

Today Counter Balance and Re: Common sent a letter to financial authorities in London and Rome urging them to intervene on the issuance of project bonds linked to Passante di Mestre – a motorway under corruption investigation in Italy. The letter signals to the financial authorities the risks linked to the issuance of a project […]

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