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Egypt’s turmoil is a distraction from the west’s economic agenda

Bankwatch Mail | 8 October, 2012 | Download PDF

The storming of the US embassy in Cairo has diverted attention once again from the real issues facing Egypt. It couldn’t have come at a better time for those who want to convince the Egyptian people to accept an International Monetary Fund loan and other western IFI interventions, and thus extend former president Hosni Mubarak’s liberalisation of the economy.


Hoyer and out: New EIB president muddles through European parliament hearing

Bankwatch Mail | 8 October, 2012 | Download PDF

With the European Investment Bank having recently postponed the annual face-to-face dialogue with NGOs that the bank’s former president Philippe Maystadt initiated in autumn 2011, it was good to see new EIB president Werner Hoyer being put on the spot in September by MEPs during a hearing at the Europeam parliament’s Economic and Monetary Affairs Committee.


Croatian coal power plans advancing despite legal violations and economic unfeasibility

Bankwatch Mail | 8 October, 2012 | Download PDF

It has been a busy time of late for the planned EUR 800 million, 500 MW Plomin C coal power plant. The Croatian government is pressing ahead with the project under the assumption that it will – along with the equally controversial EBRD-financed Ombla hydropower plant – save Croatia’s ailing economy. Yet it is far from certain who will actually participate in the project, let alone finance it.


More questions asked about EBRD and EIB transparency

Bankwatch Mail | 8 October, 2012 | Download PDF

The European Investment Bank and the European Bank for Reconstruction and Development have been awarded some of the worst transparency scores for international finance institutions in this year’s Aid Transparency Index, published in early October by the campaign group Publish What You Fund.


Czech transport investments going nowhere fast

Bankwatch Mail | 8 October, 2012 | Download PDF

Investments in transport infrastructure, particularly in the road sector, in the Czech Republic are stark reminders of wider failures in the country’s decision making that have left public confidence in national officialdom at all time lows. Some of these investments have also lead to hefty penalties being imposed by the European Commission. With planning underway for future EU funding in the Czech transport sector, now is not the time for the Commission to take its eye off the ball.


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