Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-01-18-Speech-3-054-000"
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"en.20120118.5.3-054-000"2
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"Mr President, Ms Thorning-Schmidt spoke of ‘results, not intentions’: that reflects my own political aim, so thank you, Prime Minister, for that.
As the rapporteur for the Energy Efficiency Directive, I will try to move this Parliament into a position where we can reach a deal with you. Today, however, I want to address one issue which I think is crucial in relation to getting investment in the short term, and it concerns the European Investment Bank. In December 2008, 27 heads of state decided that in 2009 the lending capacity of the EIB should be raised from EUR 55 billion to EUR 80 billion. That meant in 2009 that there was EUR 25 billion more concrete investment in wind and other projects as well as corporate bonds, which saved part of the European car industry. Today we are in the same credit crunch, yet for next year the EIB has reduced its lending capacity to EUR 60 billion. Why, at this very moment, are we cutting back EUR 20 billion in the lending capacity of the European Investment Bank?
Secondly, why is the EIB not using what Mr Draghi has provided as a lifeline for the private banks? Private banks now have EUR 500 billion at 1%, and they are parking it overnight in the European Central Bank and not investing it in the real economy. So, why is the EIB not able to lend EUR 80 billion at 1% in 2012 and invest in the European economy? Is that not the single quickest investment stimulus we can get during your Presidency?"@en1
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