Local view for "http://purl.org/linkedpolitics/eu/plenary/2017-04-27-Speech-2-029-000"
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"en.20170427.3.2-029-000"2
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"Madam President, when the President of the European Investment Bank came to the ECON Committee a few weeks ago, I asked him how the UK could repatriate the reported EUR 9 billion it has invested in the EIB. I suggested that an in specie distribution of some of the bank’s UK loan book into a UK sovereign fund might be an idea. He didn’t answer. It is crucial for the EIB to take Brexit into account when engaging in long-term commitments. For example, the EIB should not expect the UK to guarantee EIB bond issues. The existing contingent joint and several liabilities run to the order of some EUR 500 billion. That’s a worrying sum when one considers the political motivations behind it. The EIB is propping up economies which are structurally unsound as a result of their membership of the euro – in Greece the EIB has invested 10% of Greek GDP – but worse, this report suggests the EIB should call for even more capital, and demand even more from the British taxpayer. This is a dangerous fantasy economic nonsense and for that reason we cannot support this report."@en1
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