Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-29-Speech-4-059-000"
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"en.20120329.4.4-059-000"2
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"Mr President, as shadow rapporteur for the Group of the Progressive Alliance of Socialists and Democrats in the European Parliament (S&D Group), I particularly welcome the wide-ranging support of the European Investment Bank (EIB) for so-called convergence regions, which accounted for almost 41% of overall EIB loans in the EU, and also the fact that almost 30% of the volume of EIB loans in 2010 involved projects directly contributing to greenhouse gas emission reductions.
I would like briefly to focus on four points. First, the responsibility of the EIB. In March this year, based on the opinion of our Committee on Budgetary Control, the European Parliament recommended introducing a system of prudential regulatory oversight of the EIB, either through the European Central Bank or the European Banking Authority, with the possible participation of an independent auditor.
The second point relates to the issues of offshore financial centres and tax havens. In the current situation of ongoing financial and economic crisis in particular, it is important to ensure that the EIB’s financial operations do not contribute to any form of tax evasion or even money laundering.
Thirdly, in view of the economic and financial crisis, we consider it necessary to provide a greater volume of loans for structural programmes supporting economic recovery and growth. In this context, it is essential that the EIB not only continues to offer similar instruments to countries in financial difficulty, but also that it provides substantial support for countries with good financial discipline and convergence regions. It is also very important for the EIB to draw up and implement a strategy aimed at preserving its AAA rating, which is the foundation of the bank’s operations.
Fourthly, I welcome the EIB’s approach to the idea of EU project bonds. I am also delighted that in October last year, the Commission finally submitted the relevant legislative proposal for an initiative which should begin in 2012-2013.
I would like to take this opportunity to say that it was the S&D Group in the European Parliament which supported the new financial measures at EU level as an alternative to the austerity measures and cuts in public spending which most European governments are currently pursuing."@en1
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