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New joint NGO analysis calls DFIs to action against tax avoidance

A group of nine NGOs launches today a new report called “Development Finance Institutions and responsible corporate tax behaviour: where we are and the road ahead”. The analysis focuses on the role of DFIs in fighting the risk of public money being complicit in tax avoidance schemes, both assessing the policies currently in place and […]

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Entrevista – Xavier Sol: “El brazo financiero de la UE facilita la evasión fiscal, mientras la Comisión trabaja contra ella”

David Penado / 27-09-2016 El director de Counter Balance evalúa la forma en qué se ha estado invirtiendo el dinero de todos los europeos a través del Banco Europeo de Inversiones (BEI). Counter Balance es una alianza de 9 ONG, como el Observatorio de la Deuda en la Globalización (ODG), especializadas en el campo del desarrollo […]

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European Investment Bank: time to open up

Originally published on Public Finance International. By: Xavier Sol  28 Sep 16 The silent giant of the EU’s economy, the European Investment Bank, needs to be less secretive, more accountable and firmer about corruption. If trust in a common European future is to be rebuilt, the perceived democratic gap between citizens and institutions has to […]

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Un informe denuncia vínculos del Banco Europeo de Inversiones con paraísos fiscales

Originally published on El Boletin. La coalición de ONGs Counter Balance desvela también múltiples casos de puertas giratorias. David P. Fernández / 15-09-2016 La coalición de ONGs, Counter Balance – Challenging public investment banks (Contra Balance – Desafiando a los bancos públicos de inversión) ha publicado un informe en el que analiza el uso que el Banco […]

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La banque de l’UE investit des fonds publics dans les paradis fiscaux

Originally published on Mediapart.fr . PAR LUDOVIC LAMANT ARTICLE PUBLIÉ LE MERCREDI 14 SEPTEMBRE 2016 La  Banque  européenne  d’investissement  (BEI)  a investi près de 500 millions d’euros dans des fonds localisés dans des paradis fiscaux ces dernières années, selon une étude que des ONG publient mercredi. Elles s’inquiètent de l’opacité qui entoure ces placements. De  […]

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Il lato oscuro della Banca Europea per gli investimenti

Originally published on L’Espresso. È il braccio finanziario dell’Unione europea con un portafoglio di miliardi di euro per progetti che portano lavoro, crescita e innovazione. Ma anche operazioni non trasparenti in paradisi fiscali e giurisdizioni sospette, e perfino casi di conflitti di interesse. Come svela il rapporto della ong Counter balance Michele Sasso 14 settembre […]

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Report reveals the “dark side” of EIB funds: how the EU’s bank supports non-transparent investment funds based in tax havens

Counter Balance launches today a new report that critically analyses a little-known part of the European Investment Bank (EIB)’s operations: its use of private equity funds. The report presents a number of statistics and facts about recent investment funds financed by the EIB during the period 2011-2015. Main findings are that: – The EIB supports […]

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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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New Commission’s tax package calls on the EIB to go further in fighting tax havens

The European Commission came up today with an anti-tax avoidance package aiming at clamping down tax dodging. The package makes it clear that the European Union needs to clean up its act on tax havens, starting from its own financial arm – the European Investment Bank (EIB).   The communication External Strategy for Effective Taxation […]

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High Stakes for the EU bank in 2016

President of the European Investment Bank (EIB) Werner Hoyer will present the results of the bank’s operations in 2015 today (14 January). 2016 will be a crucial year for the bank in fulfilling its EU objectives, writes Xavier Sol. This article originally appeared on Euractiv, titled ”EIB transparency a prerequisite for good governance”. Since its creation […]

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