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Bubbling under the surface: The role of western public finance in the crisis hitting central and eastern Europe

Study | 14 May, 2009 | Download PDF

The financial and economic crisis unravelling across the world economy has fundamentally changed economic policy imperatives for states and international financial institutions, including those operating at the European level. This situation offers the opportunity to articulate policies favourable to progressive social and environmental aims as integral parts of effective and transformative plans for economic recovery. While todays policy makers are unlikely to be moved by such arguments at this point, broader layers of social actors engaged in debates about the crisis most definitely will. This report seeks to provide guidance for their mobilisation by considering the context, formulation and delivery of crisis response policies by the EC, the EIB and the EBRD in relation to the CEE economies.

Bankwatch Mail 40

Bankwatch Mail | 14 May, 2009 | Download PDF

In this issue: Nabucco spells energy securitisation not security * Crisis puts the EBRD back in the same old business * EBRD complaint mechanism gets a personality * EBRD drawing more power lines in Ukraine’s unsustainable energy sands * An end to energy efficiency excuses in Ukraine * Flagship PPP road project to be built with state money * ArcelorMittal – Going nowhere slowly * Hopeless in Gazela * New Gazela documentary * More dirty energy development for Albania * Smoke on Georgian water privatisation * Faster, smarter but more destructive crisis money for CEE?

ArcelorMittal: Going nowhere slowly. A review of the global steel giant’s environmental and social impacts in 2008-2009.

Study | 12 May, 2009 | Download PDF

This new report reviews the company’s environmental and social impacts during the years 2008-2009 since the coalition Global Action on ArcelorMittal published its first report on the company in May 2008. The new report includes case studies from Bosnia-Herzegovina, the Czech Republic, India, Kazakhstan, Liberia, Romania and South Africa.

Letter to President Barroso regarding accelerated EU funding for controversial projects in CEE countries

Advocacy letter | 11 May, 2009 | Download PDF

Complaint to EIB regarding breaches of EU legislation in preparations for the D1 motorway

Advocacy letter | 4 May, 2009 | Download PDF

Bankwatch member group Friend of the Earth-CEPA outlines in the complaint letter the breaches of EU legislation it believes have taken place during the preparation of the Turany – Hubov section of the D1 motorway. Both the EIB and EBRD are requested to halt plans for financing the project until the noted issues have been resolved, and the European Commission is asked to reconsider its acceptance of the project.