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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
Donnerstag, 18 Januar 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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(../..)


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*Paris/ACM/12 October 2008/-

When Europeans really feel a vital need to urgently launch common replies to challenging World Crisis, as the present Financial turmoil of Global Markets, they forge new decision-making tools and new dynamics :

The 1st in History EuroZone Heads of State and Government Summit, organized in Paris at the invitation of French President, and current EU chair, Nicolas Sarkozy, with the participation of 15 national leaders and EU institutions' chairmen, partly enlarged to British Prime Minister Gordon Brown, after a highly symbolic duo with German Chancelor Angie Merkel, at General De Gaulle's birth-village, 50 Years after he welcomed there former German chancellor Adenauer (1958-2008), may have not one, but two results :

- The first, and more urgent, was to launch an "ambitious", "coherent", and "efficient" common European movement, able to stimulate "solutions" to the World Economic Crisis, as Sarkozy anounced from the outset : State Garantees (to new Bank debts up to 5 years), fresh Capital input (f.ex. by buying shares), support to distressed banks, (while also restructuring them), incite the European Central Bank to facilitate commerial bills europe-wide, etc.

"Acting swiftly", from tomorrow, national measures will quantify all these targets, with coordinated actions from all EuroZone's Governments : France, Germany, Italy and others, decided to anounce, at the same time, such concrete measures, according to agreements that we have already made all together, revealed Sarkozy at the final Press Conference, flanked by EuroZone's chairmen : EuroGroup's Jean-Claude Juncker, and Central European Bank's Jean-Claude Truchet, as well as EU Commission's Jose Baroso, to solemnly stress the will to find common European solutions.

- "United and Determined, all EuroZone's Countries will act to prove that Citizens can Trust" the Economy, Sarkozy concluded. If we attract also all EU's 27 countries, Wednesday in Brussels, then we can coordinate action with our American Friends at a Global level, he anounced.

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- "With this new Toolbox, we do not want to serve Bankers, but to work for Europe and its Citizens' interests", added Juncker.

- "For the moment, we want to act urgently to regulate the Crisis. But the time will come when those responsible for this, will have to account for their actions. Yes to real Capitalism, No to Speculators. Those who abused, will face sanctions, Sarkozy warned.


Need stimulates activities which create new organs, say biologists, and Gordon Brown, compatriot of Spencer, the famous bio-Historian, would certainly not deny that, after his surprise visit to EuroZone's Summit in Paris, which attracted him one hour more than scheduled...

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Decisions include also the creation of a Crisis-management European mechanism, which "requires constant Monitoring", as well as strengthening Economic policy cooperation between EuroZone's countries.

Sarkozy will be judged by History not just by the immediate Economic results, expected at the end of this week's decision-making proces at National and EU level, but also by the more far-reaching consequences at the aftermath of this Historic EuroZone 1st Summit : Will it succeed to become a precursor forging a New era in European institution's revitalization ?

Significantly, the French President sat, during discussions, between German Chancelor Merkel, and British Prime Minister Brown, facing the chairmen of EuroGroup, Juncker, ECB : Truchet, and EU Commission, Baroso, with Prime Ministers of Spain, Zapatero (a hot partisan of EuroZone's Summit) at his right side, and Italy's Berlusconi, at his left, surrounded by Austrian, Belgian, Cyprus', Finland's, Greece's, and Ireland's leaders, as well as Slovakia's, Slovenia's, Portugal's, Netherlands', Malta's and Luxembourg's leaders.

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Meanwhile, those who tabled for a rift between French and German positions were faced with a smiling Merkel at De Gaulle-Adenauer's meeting place, a sunny Saturday morning, and a particularly active-looking Merkel inside the French Presidential Palace at Elysee's gardens on Sunday, (as happy few photographers discovered)..

- "De Gaulle's hilltop, at Colombey-les-2-Eglises, gave an astonishing overview to a huge landscape, entirely surrounded by splendid Nature, as far as eyes could see", said to EuroFora an obviously charmed German Journalist.

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She was describing Saturday's inauguration of a High-Tech Memorial close to the Historic Giant Double Lorraine's Cross, built by famous Novelist Andre Malraux, to perpetuate the Memory of his famous call for "Resistance" to NAZI, and his vision for the creation of New Institutions and Franco-German reconciliation, to foster Europe's role in the World, also for the Future.

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Children playing at Elysee's gardens before the Historic 1st EuroZone's Summit : What Europe's Future will look like ?


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