Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-13-Speech-4-187-750"

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"en.20111013.19.4-187-750"2
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"I supported this proposal, which seeks to allow the subscription to new shares in the European Bank for Reconstruction and Development (EBRD) following the Board of Governors’ decision on 14 and 15 May 2010 to increase its capital from EUR 20 billion to EUR 30 billion. The guidelines contained in the report should be viewed as a foundation on which to maintain the EU 2020 strategy objectives. One such objective that must be emphasised is transparency, which the EBRD is increasingly being asked to ensure, including through the report that its Governor is required to present on the subject of the EU’s external policy objectives. Transparency of the EBRD’s financial operations will therefore become the key factor in banking performance and will mean that investments are channelled in a more effective and efficient manner. I voted in favour of Ms Bowles’s resolution because I believe that a recapitalisation measure in the shape of the issuance of new shares in the Bank’s capital is the right way to go, given the equally important fact that it will not directly affect the EU budget."@en1

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