Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-29-Speech-4-279-000"

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"en.20120329.36.4-279-000"2
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"Madam President, over the past few years, the role of the EIB has extended beyond simply providing loans and assistance to countries’ businesses and projects within the EU. As the EIB begins to use more risk-based instruments and more complex types of leverage, we need to be very careful that the scrutiny of the EIB keeps pace with this change. While projects like Jeremie, in my own constituency in Wales, have been very effective in adding value to the initial capital provided by the EIB, thereby making money seem to go further, we must remember that more complex financial instruments can bring with them new risks. As the financial crisis has shown us, transparency is crucial to understanding the systemic importance and interconnectedness of financial products and institutions, yet I am concerned that there may not be sufficient financial supervision taking place over the operations and the balance sheet of the EIB itself."@en1
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