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Haircuts for eurozone citizens? A closer look at the EFSF

27 October, 2011

The European Financial Stability Facility is a crucial element of eurozone leaders’ proposed solution to the debt crisis. But behind the shining EUR 1 trillion armour of the EFSF lurks an institution that could bring further mayhem as a closer look by Bankwatch’s alternative economics coordinator Roman Havlicek reveals.

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NGOs call on the EBRD not to finance “high risk” underground HPP in Croatia

26 October, 2011

Zagreb — Croatian and international environmental organisations have today called on the European Bank for Reconstruction and Development (EBRD) not to go ahead with a planned EUR 123 million loan for the Ombla hydropower plant near Dubrovnik in Croatia, due to be approved by the bank’s Board of Directors on November 8. In an open letter to the bank, the organisations point to ecological, economic, and procedural problems with the plans, which even the consultants hired by the EBRD to assess the project have described as “high risk”.

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The art of sustainability is not to finance coal

20 October, 2011

Upset by Slovenia’s plans to build a huge lignite power plant unit in Sostanj, Slovenian artist Marko Kumer-Murc and Slovene environmentalists from Focus brought their protest to Brussels. Our media officer was on sight and brought back a few images.

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European Parliament makes a step towards putting the ‘E’ into EBRD

19 October, 2011

By requesting a number of changes at the European Bank for Reconstruction and Development, the European Parliament has confirmed at least some of Bankwatch’s criticism of the bank’s mode of operation and (in a subtle way) also its overall approach.

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Art installation at Berlaymont denounces banking on coal

19 October, 2011

Brussels – With an art installation that symbolizes EU citizens locked in a polluted environment, the Slovenian artist Marko Kumer Murč and Slovene environmentalists from Focus protest against European public and private banks pouring hundreds of millions of euros into a new lignite plant in their country, at Sostanj. Many Slovenians oppose this project and the Slovenian parliament has just refused to support a state guarantee for the banks’ loans. The action is supported by the international NGOs Banktrack and CEE Bankwatch Network, which are campaigning against the project.

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