In the European Parliament in Brussels, MEPs debate with Philippe MAYSTADT, EIB President, on the report by Tamás DEUTSCH (EPP, HU).

Brussels

debate

financial supervision (T)

DEUTSCH, Tamás (NI, HU)

REHN, Olli (ALDE, FI)

AUDY, Jean-Pierre (EPP, FR)

STAVRAKAKIS, Georgios (S&D, EL)

European Investment Bank annual report (T)

MAYSTADT, Philippe (BE)

European Investment Bank (EIB) - Annual Report 2008: extract from the debate

SOUNDBITE (Hungarian), Tam&#225;s DEUTSCH (EPP, HU), We are talking about the activities of the EIB from 2008, two years ago. In spite of the economic and financial crisis, I think that we have to give credit where it is due and recognise the work of the EIB, because it came up with a very effective response to the crisis. It has stepped up its activities, for example, by providing increasing loans to SMES and, in fact, in stimulating and helping to the European Economic and Recovery Plan.

SOUNDBITE (French), Philippe MAYSTADT, EIB President, This year we are going to make a particular effort with Greece. Last week I was in Athens, together with the Greek government, and we agreed that we would increase considerably our valuable loans to Greece, to show our support as a contribution to the general effort which is being made.

SOUNDBITE (French), Philippe MAYSTADT, EIB President, We have met our commitments, because in 2009 the volume of our loans went from 58 to 69 billion, a 37% more of the volume of our loans in the EU.

SOUNDBITE (French), Philippe MAYSTADT, EIB President, We proposed that, together with other financial institutions, we should create a platform which could coordinate and manage more effectively the financing of projects in developing countries. The French and the German agencies have already shown their interest in this initiative, and we hope that in the coming weeks we have the opportunity to discuss it with the Commission, to see how to finance this instrument.

SOUNDBITE (English), Olli REHN, European Commissioner for Economic and Monetary Affairs, The Parliament has called for a better mutual understanding between the two banks. I have been very pleased to see that they have reached an agreement on their cooperation in common countries of cooperation. This will form the basis of a more global tripartite agreement with the Commission, replacing the existing regional base agreement.

SOUNDBITE (French), Jean-Pierre AUDY (EPP, FR), I tabled an amendment, so that the European bank authority we are trying to set up will be able to have a perimeter that allows it to have a prudential supervision. I remind you, Mr Commissioner, to have support this idea. I was told that the Member States are against it. The Member States can not give long terms missions and avoid at the same time that the authority has a prudential supervision.

SOUNDBITE (French), Philippe LAMBERTS (Greens/EFA, BE), Let me just mention one figure. When you are looking at the energy investments in 2009, 3/4 of the investments went to XIX's and XX's centuries technologies, and only 25% to renewable. The challenge we ask you to pick up, Mr Maystadt, is that from 2010 on the 75% goes to renewable.

SOUNDBITE (Greek), Georgios STAVRAKAKIS (S&amp;D, EL), There is no question, Mr President, colleagues, that today this economic crisis has been partially combated by the work of the EIB. Its speedy response in supporting SMES has greatly helped and allowed many of our companies to survive in these difficult times.