Tag Archives: featured

Report: Going abroad – A critique of the EIB’s External Lending Mandate

November 16, 2016 Brussels, Prague The EIB is increasingly given a prominent role in the EU’s response to the so-called refugee crisis stretching the bank’s operations well beyond the its current mandate for overseas investments. Yet, a new report by Counter Balance and CEE Bankwatch Network takes a closer look at projects the EU’s house […]

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“Walking the Line” of the Southern Gas Corridor: the Webocumentary

Counter Balance, Platform and Re:Common are pleased to announce the launch of the webdocumentary “Walking the Line”. This webdocumentary presents the risks associated with the Euro-Caspian Mega Pipeline or Southern Gas Corridor. One of the biggest pipelines ever conceived, the corridor is supposed to stretch 3500 km from Azerbaijan to Italy and supply Europe with […]

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Reclaiming public banks

A thought provoking exercise In this new paper Counter Balance and Re: Common look into the role of public banks as powerful tools to finance projects of public interest and how public finance needs to be transformed for this to happen. Public investment banks have a huge potential to finance projects in times of austerity […]

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Counter Balance activity report 2014

Wondering what we have been up to last year? Read all about it in our 2014 activity report Our Director, Xavier Sol, outlines the most important things of last year and the main challenges for the next in his opening letter as a way of introduction. Being the only coalition fully dedicated to scrutinising public […]

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“Fight tax havens, start with the European Investment Bank”, argues new report

The European Investment Bank (EIB) was the first Development Financial Institution (DFI) to adopt a tax haven policy in 2009. However, more than five years on EIB money still runs via tax havens. A new report by Counter Balance* and Re:Common* ‘Towards a Responsible Taxation Policy for the EIB’ which is launched today calls on […]

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Parliament presses for more scrutiny of EU Investment Plan but guts green prospects

BRUSSELS – MEPs ditch ring fencing for energy savings but demand more democratic oversight over the European Fund for Strategic Investments (EFSI) that has been setup to implement Commission President Juncker’s economic recovery plan. Today’s vote in the Parliament’s ECON and BUDG committees follows a battle between political groups waged after last Thursday’s decision from […]

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EIB’s new transparency policy allows for more secrecy

Brussels – Yesterday the European Investment Bank (EIB) formally adopted a revised transparency policy including controversial exceptions to the disclosure of internal documents. This watered down transparency policy comes right before the bank will start implementing the € 315 billion Juncker plan and risks undermining the impact of EU recovery efforts. The new transparency policy […]

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Long awaited investigation into Glencore for alleged tax dodging shows EU Bank’s lack of transparency and vulnerability to abuse

Brussels – The European Investment Bank (EIB) is virtually powerless in the face of abuse of its own funds, an internal investigation published last week by the EIB shows. What’s even worse is that the EIB’s new transparency policy – to be adopted in the coming weeks – would formally allow the bank to keep […]

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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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Juncker investment package shifts risk from private investors to EU taxpayers

InvestEU programme endorses unfair risk-reward balance Risky projects may threaten economic development instead of driving it Brussels – Today European Commission president Jean-Claude Juncker will present his widely anticipated 300 billion euro investment package aimed at stimulating growth in the European economy. Central to the InvestEU programme is a 21 billion euro allocation for the […]

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