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Home arrow newsitems arrow COCOBU President Grässle + EIB v.President Stubb to EF on Capitals + Transparency versus Bubbles

COCOBU President Grässle + EIB v.President Stubb to EF on Capitals + Transparency versus Bubbles

Written by ACM
Thursday, 18 January 2018
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*Strasbourg/EU Parliament/Angelo Marcopolo/- The Fact that Study the Past can Help Build a Good Future, was Highlighted anew in EU Parliament's key Committee on Budgetary Control, as it results from Statements to "Eurofora" by its Experienced President, German ChristianDemocrat/EPP MEP, Dr. Ingeborge Graessle :

 

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During a Hearing of EIB's vice-President, former Prime Minister of Finland, Alexander Stubb, (for some of his Statements to "Eurofora", Comp. Infra, and at: ..., etc), that traditionally Important Committee (also known as "COCOBU"), examined EIB's Financial Activities for 2016, in order to judge whether and how it would agree on giving it a Discharge, with a Report Drafted by Italian MEP Marco Valli, of the EFDD Group, which is due to be Debated and Adopted by EU Parliament's Plenary Session of April 2018, (as President Grässle has just anounced).

- In this Context, when the Time Came for MEP's Questions, President Grässle, surprizingly asked Stubb about the Proportions and the Nature of "Private Capital" attracted by EIB's Activities that Year.

 

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+ Speaking, Later-on, to "Eurofora", COCOBU's President clearly Stressed that, in Fact, this was, in her view, one among the Most Important Points.

Given the Crucial Role that EIB notoriously Plays for a Succesfull Implementation of EU Commission President, Jean-Claude Juncker's Investment Plan, "Eurofora" asked Dr. Graessle to kindly Explain the reasoning behind her move.

 - It's simply Because we'd Better make Sure that there is Enough Private Capital attracted by the EIB, in order to Avoid Provoking, Otherwise, a Financial "Bubble", she sharply told us in Reply.

- And, when, astonished, "Eurofora" wondered how it might be possible, for a European Bank so Solid as EIB to eventually have to Face and Win against a Challenge such as a "Bubble", Dr. Grässle became more Specific :

- Since, if there wasn't enough Private Capital, that might mean that EIB would have used, then, Only Public Funds, Despite the Fact that Most of EU's Member States were InDebted", COCOBU''s President Explained to "Eurofora", with a smile.

- And the Fees were quite considerable, Back on 2016, she also added, in this regard.


- This making sense, Stubb naturally promised to provide asap all the required Data, in even more concrete Detail, just after having Boasted, earlier, that, as a matter of Principle, "EIB is (comparatively) Cheap", because "we have an <<AAA>> Rating", as he pointed out, inter alia also since "it's Not Possible to have a Bankruptcy for 28 Member States, taken All Together"...

 

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+ Concerning Both the above-mentioned, and Other Various Data,  as well as an overall efficient "Transparency" Mechanism, that certain MEPs asked too, vice-President Stubb , while Promising to become even more forcthcoming asap, also Boasted that, Recently, the EIB would have "Reversed" a 50 Years Old , former "Communication Policy", which had been  "Resumed in the sentence : " No News" it's the Best !"


=> But, for us, from Now on, it's Exactly the Contrary : - "EIB is a Bank of Good News !", Stubb Concluded, ...


- Speaking Afterwards to "Eurofora", vice-President Stubb, smiling Brightly, Confirmed that he Really Meant such a Big Change in EIB's Communication Policy...


- However, concerning a series of Main Forthcoming Developments on certain Financial Mechanisms that EIB Believes Necessary in order too Boost EU's Economy nowadays, "it Depends on EU's Member States", (i.e. on EU Council's Decisions), Alexander Stubb, more Soberly but Clearly, Distinguished between EIB's own Acts and Advises.

 

Meanwhile, the above-mentioned Report by MEP Valli is due to be Debated and Voted by COCOBU on February in Brussels, before Final Decisions by the Plenary in public on April in Strasbourg, as Dr. Grässle said.

 

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It's important to create a synergy between "mutually stimulating" EU Countries' moves in order to overcome an "Unjust" Crisis "imported from USA", stressed new French Minister for Economic Revival, Patrick Devedjian, in Strasbourg, warning also that, while hoping for a vigorous Obama US Plan, nevertheless, "Time" is of essence for Europe...

In fact, it's EU's own interest to act Fast, before June 2009 EU Election, since, with Lisbon Treaty not ratified yet, it cannot face again the risk of a Majority Abstention, as back in 1999 and 2004, nor another "anti-EU" mood among Citizens, as in the 2005 French and Dutch "No", followed by the 2008 Irish "No", without endangering rare Historic opportunities, currently open for the EU, whose future is at stake.

From Social issues up to High-Tech Scientific Research, concrete action for Economic revival started from Strasbourg and its European dimension, for the new super-Minister Patrick Devedjian, who visited a Popular Social Housing and Infrastructure project at nearby Hagenau village, before meeting new leaders of Strasbourg's unified mega-University in a Scientific Labo at the Campus, close to EU Parliament and CoE headquarters.

Devedjian, who met also with all the spectrum of Local Political  deciders of Alsace region, close to FrancoGerman borders, wants for deeds to meet the words, in real practice, whenever politicians speak about Strasbourg and Europe's development.

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Devedjan to "EuroFora" : "European coordination can act as a multiplicator by mutual stimulations"
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Devedjian was questioned by "Euro-Fora" on his expectations for reciprocal effects of coordinated European plans :

- "We are living in a (European and Global) system where borders are transparent : When we take measures in France, they produce effects also in Germany, in Belgium, Italy, Spain, or other EU countries, and vice-versa. "So, we can have mutually stimulating effects between national revival Plans, if they are somehow coordinated", ..."They can augment each other's effects, acting as multiplicators and levers". "As a State stimulates Local authorities and Private business, similarly, each EU country's economic revival plan may multiply the effects of other EU countries' actions", he told us.

- "F.ex., when I visited Strasbourg University's Scientific labos, they told me that part of the renovation, funded by France, is realized by German companies located only a few Kms away from the border. Thus, the French revival plan benefits also the German economy. And vice-versa : when Germany takes certain measures, they can have beneficial effects also for French companies"

In an era of Globalisation, "nobody can close and isolate himself inside a Fish-Bowl !", he concluded.
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Economy's revival starts from Strasbourg and Europe, for new French Minister Devedjian
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This could be one of the reasons for which the new French Minister for Economic Stimulus chose to make his 1st visit to Strasbourg, the headquarters of European and Paneuropean Institutions, in the Franco-German river borders at the heart of Europe.

- "It was President Sarkozy's idea", he revealed, adding also fresh "support to Strasbourg's European vocation, not only with words, but also with deeds" :F.ex., the completion of a High-Speed Train network, due to stimulate fast links with Germany, Austria, Italy, Hungary and other central EU Countries.

- "This Crisis is Unjust for Europe, because it wasn't its fault". The greatest part of the "Crisis was imported from the USA, where problems are deeper than here'', in the EU. The Crisis "wasn't due to a bad managment by Europe", who was affected by problems which emerged elsewhere. That's why Europe must be united and active enough to face this challenge. said Devedjian, who has just won +5% in popularity...

- "I hope that there will be an "Obama-effect" also on Economy, and that the Plan of the New American President will be substantial enough to face this crisis, which is worse in the USA than in our area", Europe, he added.

"Economic Revival overcomes political divisions : F.ex. Strasbourg's Socialist Mayor "Ries agreed that State actions funded by Public Debt are justified during such exceptional circumstances", noted the Center-Right republican Minister.

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"Zeitnot" for 2009 EU Elections ?

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"My problem is Time", stressed Devedjian from the outset, at Strasbourg's University. "I have to engage 75% of funds in 2009, out of a total of 29 Billion euros", he explained later. "Monitoring will be of essence", because we must "avoid bureaucracy or delays. No project should get lost or neglected in complex meanders of adminstrative offices' moving sands", he warned.

- "I must create activities in the middle of the Crisis", he added. Questioned by EuroFora whether he aims to start creating some "hopes before the June 2009 EU Elections", Devedjian, a former leader of the Governing Political Party in France: UMP, did not immediately reply, but revealed, later, that he "hoped to start at least some Projects on May 2009, even if the bulk of Revival Plan's effects are "expected from Autumn 2009".

However, with only 30% of EU Citizens currently aiming to cast a vote at the forthcoming EU Elections on June, (See other NewStory), the  coordinated moves' results are expected to be crucial for Citizens' participation and votes at the forthcoming June 2009 EU Elections throughout all 27 EU Member Countries...Thus, it's vital for all Europe's own Future that coordinated national Economic revival plans start to have concrete results and create hopes for new dynamics before the June 2009 EU Election...

A real challenge, since careful choices are needed : Our aim is to fund projects which "create activities", even "in the middle of the crisis", and have a "lever effect, attracting other investments", Devedjian said. Because the "Stimulus' Plan has 2 aims : A Tactical one : to create New Activities. And a Strategic one : Choose what can become efficient and useful also in the Long-term". 

- "Are you ready ?", he asked Strasbourg University's new President, professor Alain Beretz, with some 700 million euros in his pockets for Education-Research in France. - "We are !", he replied.

- "The Minister's initiative can accelerate funds, and Time is important for us. This concerns the entire renovation of all our buildings", said to "EuroFora" President, Beretz. "I showed some Scientific Research Labos to Mr. Devedjian. But, If we had more time, I could show him also some Education Amphis, whose condition needs to meet Strasbourg's new Mega-University's ambition" to reach the 10 best in the World, as Prime Minister Fillon earlier anounced here.

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(Devedjian kicks off his Economic Revival tour from Strasbourg University, meeting with its new chairman Beretz, at Scientific Institute Le Bel) 

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Regional Prefectures should gather and select projects to be presented for decision before the end of January 2009.

A well-known close friend of President Sarkozy, who succeeded as EU Chairman to launch, in agreement with German chancelor Merkel and even British prime minister Brown, vigorous EU actions against the Financial/Economic Crisis, (starting from the 1st Historic Summit of EuroZone's Heads of State/Government, October 12 at Elysee Palace, followed by Washington G20 Global Summit), Devedjan will have a key role in the realisation of National and EU plans recently agreed in Brussels.

President Sarkozy is expected to arrive himself in Strasbourg, on the occasion of the official inauguration of its brand New Mega-Hospital, on the 9th of January 2009, at the eve of EU Parliament's session here, Elysee confirmed shortly after Devedjian's visit.

EU is due to review its economic revival plans at March 2009 EU Council in Prague, before the April 2 London Global Summit.

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Multi-facet concrete activities at focus : Stimulus Minister Devedjian at the Political, Social and High-Tech fronts in Strasbourg...

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