Activities of Luis GARICANO related to 2020/2124(INI)
Plenary speeches (1)
Financial activities of the European Investment Bank - annual report 2020 - Control of the financial activities of the European Investment Bank - annual report 2019 (debate)
Amendments (6)
Amendment 9 #
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Calls for the European Investment Bank Group to step up its efforts to support the economic recovery after the pandemic; is concerned about the meagre take uprate of the EUR25bn Pan- European Guarantee Fund, and attributes this to the Group’s risk profile; proposes therefore that the Commission and the private sector make a capital injection to the European Investment Fund so as to dilute the EIB’s controlling stake, hence allowing the Fund to support the European economy by increasing its risk appetite; highlights that this proposal would allow the Fund to invest more heavily in distressed assets, such as by building on its previous experience with financial guarantees and acting as an Asset Protection Scheme for companies affected by the pandemic.
Amendment 10 #
Motion for a resolution
Citation 20 a (new)
Citation 20 a (new)
— having regard to the European Parliament Resolution of 13 January 2020 on institutions and bodies of the Economic and Monetary Union: preventing post-public employment conflicts of interest;
Amendment 11 #
Motion for a resolution
Citation 20 b (new)
Citation 20 b (new)
— having regard to the 22 July 2016 letter from the Ombudsman to the President of the EIB on conflict of interest issues and the President of the EIB´s reply of 31 January 2017;
Amendment 12 #
— having regard to the Recommendation of the Ombudsman in case 2168/2019/KR on how the European Banking Authority handled the move of its former Executive Director to become CEO of a financial industry lobby;
Amendment 13 #
Motion for a resolution
Citation 20 d (new)
Citation 20 d (new)
— having regard to Counterbalance´s 2019 report "Is the EIB up to the task in tackling fraud and corruption? Challenges for the EU Bank’s governance framework";
Amendment 236 #
Motion for a resolution
Paragraph 30 a (new)
Paragraph 30 a (new)
30 a. Denounces the conflict of interest that has arisen as a consequence of the appointment of the former EIB Vice- president as a member of Iberdrola´s Board of Directors; notes that this post- public employment with barely any cooling-off period constitutes a risk not only to the reputation and independence of the EIB but to all EU institutions and the European project as a whole; highlights that unaddressed conflict of interest situations might not only compromise the enforcement of high ethical standards throughout European administration, but also jeopardise the right to good administration, threatening the level playing field required for the proper functioning of the single market; demands that the Ethics and Compliance Committee (ECC) explains its decision to allow such a move; recalls that the European Ombudsman found that the EBA´s decision not to forbid its Executive Director from becoming the CEO of a financial industry lobby was maladministration and that forbidding the job move would have been a necessary and proportionate measure;