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Who is Awake? “Sleeping Beauty” or “Sleeping Giant”?

Who is Awake? “Sleeping Beauty” or “Sleeping Giant”? 11 May, 2018

Rooted in the European Coal and Steel Community of 1952, the United Europe paved the way to long-term peace by regulating the production and distribution of these two major elements of war industry. However, can the partnership deal concluded between the European Investment Bank and European Defence Agency on February 28, 2018 reverse the tide?

Owned by and representing the interests of the European Union member states, the European Investment Bank (EIB) provides finance and expertise for sustainable investment projects that contribute to EU policy objectives. EIB’s activities focus on four priority areas: Innovation and skills, access to finance for smaller businesses, infrastructure, climate and environment. The Bank also helps with administrative and project management capacity to facilitate investment. The EIB raises the money it lends on the international capital markets through bond issues. Its excellent rating allows the Bank to borrow at good rates. Since the EIB is not a profit-seeking institution, it passes these good rates onto its clients. All the projects financed by EIB must be bankable. They also must comply with strict technical, environmental and social standards.

In terms of mission and vision, the EIB is not authorised to back R&D directed specifically at weapons and military equipment. Yet its recent collaboration with the European Defence Agency (EDA) is being regarded as a turning point in the history of United Europe. According to the Bank’s report titled Operating Framework and Operational Plan 2018, “Europe now faces starker threats to its internal and external security than at any time since 1945.

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