Jul272017

Werner Hoyer re-appointed as President of the European Investment Bank Group

EU

President Werner Hoyer is going to lead the European Investment Bank (EIB) for another six-year term, starting at the 1st of January 2018. He was reappointed today by the Board of Governors of the EIB, consisting of the Economy and Finance ministers of the 28 EU Member States.

Werner Hoyer started his tenure as President of the EU bank on 1 January 2012, and is also the Chairman of the EIB’s Board of Directors. Over the last five and a half years he has overseen a huge expansion and transformation of the Luxembourg-based bank, with the EIB Group’s annual financing increasing from EUR 55bn to EUR 84bn since 2012. The annual investment supported by this financing increased from EUR 169bn to EUR 287bn over the same period.

This increase in business was partly triggered by the Investment Plan for Europe – the Juncker Plan. Jean-Claude Juncker and Werner Hoyer worked in close cooperation to develop this concept, which has made a strong contribution to growth and job creation in the EU since its inception. Under the Juncker Plan, the EIB Group has approved EUR 44bn in financing so far, supporting EUR 225bn in investment across the EU.

“It has been a privilege to serve as President of the EU bank in these challenging times, financing thousands of projects that have improved millions of people’s lives. We have helped EU countries hit hardest by the eurozone debt crisis, lent our financial muscle to the efforts of the EU to stabilise Ukraine and begun to address the root causes of migration in Northern Africa”, said Werner Hoyer. “New challenges lie ahead for us, not least coping with the loss of the United Kingdom as member of the EU bank. But I’m sure the ingenuity and expertise of the 3 000-strong EIB staff will help us to find solutions to these challenges. We will continue to deliver EU policies in the Union and worldwide.”

Before joining the EIB, Werner Hoyer was a member of the German Bundestag for the liberal party FDP for 25 years, specialising in foreign and security policy as well as European and budget affairs. He was also the Minister of State (Deputy Foreign Minister) at the German Foreign Office. He held various positions during his long, distinguished political career, among them General Secretary of the FDP, Whip of the FDP Parliamentary Group and President of the European Liberal Democratic Reform Party.

CV

Background information:

The European Investment Bank (EIB) is the European Union’s bank. The EIB is the long-term lending institution of the EU and is the only bank owned by and representing the interests of the European Union Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. The EIB works closely with other EU institutions to implement EU policy.

As the largest multilateral borrower and lender by volume, the EIB provides finance and expertise for sound and sustainable investment projects which contribute to furthering EU policy objectives. More than 90% of EIB activity is focused on Europe but it also supports the EU’s external and development policies.

Jul272017

Aides d’État: déclaration concernant un accord de principe entre la commissaire Vestager et le gouvernement britannique sur l’engagement de Royal Bank of Scotland

EU

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Jul272017

Welsh and Scottish Ministers to discuss Brexit – Changes must be made to the EU Withdrawal Bill

Welsh Government

Welsh Finance Secretary Mark Drakeford and Scotland’s Brexit Minister Michael Russell will meet to discuss the UK Government’s recently-published EU Withdrawal Bill. 

The Scottish Government’s Lord Advocate James Wolffe QC and the Welsh Government’s Counsel General Mick Antoniw will also attend the meeting.

The meeting will focus on the need to amend the Bill so relevant powers remain with devolved administrations, rather than being taken back by UK Government, as the Bill currently proposes. 

Speaking in advance of the meeting, Professor Drakeford said: 

“The Welsh Government’s position has always been that we agree there is a need for an orderly exit from the EU, but that it needs to be based a set of arrangements that gives certainty to businesses; to our communities and respects the devolution settlement.

“The EU Withdrawal Bill does absolutely none of those things as it is currently drafted and the UK Government cannot expect the support of the devolved administrations on that basis.  

 “We want to help the UK Government to find a way out of the mess in which it finds itself and we will come to the table constructively to discuss UK frameworks which may be necessary when the UK leaves the EU. This must be done by agreement and not through imposition.

“We are talking about responsibilities which have rested in Cardiff Bay and Edinburgh since 1999. Our model of devolution has drawn public support through various elections and referenda and therefore cannot simply be reversed with the stroke of a pen in Whitehall.  

“I look forward to discussing with Mr Russell today how we can work together to ensure the UK Government respects devolution across the United Kingdom.”

Mr Russell said:

“The European Union (Withdrawal) Bill is quite simply an attack on the hard-won powers of the Scottish Parliament and on the principles of devolution.

“We cannot and will not stand by and let powers in devolved areas be taken by the UK Government. The Bill must be changed to respect devolution and our parliament.

“The Bill does not return powers to the devolved administrations as promised. Instead it imposes new restrictions on the Scottish Parliament and National Assembly for Wales.

“I look forward to discussing how we can protect devolution with Professor Drakeford and our priorities for amending the Bill.

“I hope the UK Government will also enter into negotiations on the Bill on the basis that we are equal partners on an issue that will have a hugely significant impact on the future of our economy and society.”