Читать книгу The economic policy of the european union in the context of the covid-19 crisis - Francisco Jesús Carrera Hernández - Страница 22

A financial institution such as the EIB, established within the EU to offer capital to the EU Member States and strengthen their economies, is undoubtedly a great success, as is its independence from the rest of the institutions. The latter is fully justified for the purpose of transparency and without conditionalities in the form of internal quotas between institutions.

The contribution work in economic development, an idea present since its constitution, has been very positive. Over time, different elements proper of current times have been included; it is not conceivable to contribute to the modernization of companies without considering respect for the environment, social commitment, human rights, digital transformation and, after the COVID-19 crisis, areas such as health and resilience cannot be an exception.

It is considered positive to link these elements with the support that the EIB is granting in these moments of crisis, as it does not ignore current needs. It merges both needs, those that existed prior to the pandemic and those that have emerged since 2020 and continue to appear in 2021; certainly, the decision has been very positive.

Finally, the resolutions drawn up by the EP in the analyzed European annual reports must be addressed immediately; the health and economic crisis situation cannot be a justification for continuing to work on the action and investment plans drawn up in 2018 and 2019. These are actions and investments for development purposes in technological, environmental, digital and sustainability matters, among others, that modernize and strengthen the economies of the EU Member States.

Also, recommendations on accountability, auditing, tax evasion, money laundering, among others, contribute to the prevention of criminal behavior. That is why the work prior to the health and economic crisis situation must continue, along with the financing in health and resilience areas discharged in recent months to comprehensively address the current situation. It is considered that the EIB and its bodies must ensure transparency and accountability in all actions, both internal and external, to best contribute to its work as an independent financial institution.

*Professor of International Law, Universidad Iberoamericana, Mexico (ariadna. salazar@ibero.mx).

The author thanks Marisol Martínez Abanzabalegui, documentary maker of the European Documentation Center of the Universidad de la Rioja, for the support provided in the documentary search to prepare the work.

1.European Council and Council of the European Union, COVID-19: the EU’s response to the economic fallout, https://www.consilium.europa.eu/en/policies/coronavirus/covid-19-economy/.

2.Decision (EU) 2020/546 of the European Parliament and of the Council of 17 April 2020 on the mobilisation of the Flexibility Instrument to finance immediate budgetary measures in the context of the COVID-19 outbreak.

3.European Council and Council of the European Union, COVID-19 pandemic: the EU response, https://www.consilium.europa.eu/en/policies/coronavirus/. For an explanation on the subject see, IÑARRITU, B., “Institutional and economic news of Spain in the framework of the European Union”, Cuadernos Europeos de Deusto, no. 64/2021, 2021, pp. 187-205.

4.European Council and Council of the European Union, COVID-19: the EU’s response to the economic fallout, https://www.consilium.europa.eu/en/policies/coronavirus/covid-19-economy/.

5.CARRERA HERNÁNDEZ, F. J., “From the European Stability Mechanism (MEDE) to the New Reconstruction and Resilience Mechanism (MRR). Was a pandemic necessary to reinforce financial solidarity in the European Union?”, Revista Española de Derecho Europeo, no. 75, July-September, 2020, p. 13.

6.Last revision on 08-08-2021.

7.European Council and Council of the European Union, COVID-19: the EU’s response to the economic fallout, https://www.consilium.europa.eu/en/policies/coronavirus/covid-19-economy/.

8.Idem.

9.Art. 130 TCEE.

10.DOCE N ° C 191/1, July 29, 1992.

11.In this instrument, the European System of Central Banks and the European Central Bank were created (art. 4.A of the TEU).

12.Subsection 11, of art. 104. C of the TEU.

13.Art. 130. B. of the TEU.

14.MANGAS MARTIN, A., y NOGUERAS LIÑAN, D., Instituciones y Derecho de la Unión Europea, 10 ed. Tecnos, 2020, p. 368.

15.Ídem.

16.HACHEZ, N., and WOUTERS, J., “A responsible lender? the european investment bank´s environmental, social and Human rights accountability”, Leuven Centre for global governance studies, Katholieque Universiteit Leuven, Working Paper, No. 72, September 2011, July 2012, p. 4.

17.European Union, “Institutions and bodies”, see at: https://europa.eu/european-union/about-eu/institutions-bodies_en.

18.Ídem.

19.Art. 4 of the Bank’s Protocol.

20.European Investment Bank, see in https://europa.eu/european-union/about-eu/institutions-bodies/european-investment-bank_en.

21.Ídem.

22.Art, 5, section 2 of the Bank’s Protocol.

23.Subsection d) of section 3 of art. 7 of the Bank’s Protocol.

24.Established in Section 1 of Art. 4 of the Bank’s Protocol.

25.Section 2 of art. 9 of the Bank’s Protocol.

26.Section 2 of art. 11 of the Bank’s Protocol.

27.Section 2 of art. 11 of the Bank’s Protocol.

28.Art. 16 of the Bank’s Protocol.

29.By decision by a qualified majority of the Board of Governors, at the proposal of the Board of Directors.

30.Section 3 of Art. 16 of the Bank’s Protocol.

31.Third paragraph of section 5 of Art. 16 of the Bank’s Protocol.

32.Section 3 of art. 16 of the Bank’s Protocol.

33.The accumulated amount of the items in question is calculated once a sum has been deducted from the amount subscribed, whether it has been disbursed or not, in respect of any participation of the Bank. Section 5 of Art. 16 of the Bank’s Protocol.

34.Second paragraph of section 5 of art. 16 of the Bank’s Protocol.

35.Third paragraph of section 5 of art. 16 of the Bank’s Protocol.

36.European Investment Bank, see at: https://www.eib.org/en/press/all/2020-086-eib-group-will-rapidly-moise-eur-40-billion-to-fight-crisis–caused-by-covid-19.htm?lang=en.

37.European Investment Bank, “The European Investment Bank’s response to Covid-19: Fact sheet”, see at, https://www.eib.org/attachments/press/covid19-eib-group-response-factsheet-en.pdf.

38.Ídem.

39.See Communication from the Commission to the European Parliament, the European Council, the Council, the European Central Bank, the European Investment Bank and the Eurogroup. Coordinated Economic Response to the COVID-19 Outbreak, Brussels, 13.03.2020, COM (2020) 112 final.

40.The EIF is the EU venture capital subsidiary that provides financing and guarantees to small and medium-sized enterprises (SMEs), and is majority owned by the EIB. In 2019, it made 10.2 billion euros available, through guarantees, equity stakes and inclusive financing, for SMEs in all sectors and throughout the European Union, see the European Investment Bank, see https://www.eib.org/en/press/all/2020-086-eib-group-will-rapidly-mobilise-eur-40-billion-to-fight-crisis-caused-by-covid-19.htm?lang=itis.

41.Ídem.

42.Ibidem.

43.Ibidem.

44.Communication from the Commission to the European Parliament, the European Council, the Council, the European Central Bank, the European Investment Bank and the Eurogroup. Coordinated economic response to the COVID-19 outbreak. Brussels, 13.03.2020, COM (2020) 112 final. Point 7. Conclusion. See in https://eur-lex.europa.eu/resource.html?uri=cellar:91687006-6524-11ea-b735-01aa75ed71a1.0001.02/DOC_1&format=PDF.

45.This is the Program for the Competitiveness of Businesses and for Small and Medium-sized Businesses.

46.For further explanation see Point 4.1 of the Communication from the Commission to the European Parliament, the European Council, the Council, the European Central Bank, the European Investment Bank and the Eurogroup. Coordinated economic response to the COVID-19 outbreak. Brussels, 13.03.2020, COM (2020) 112 final.

47.Communication from the Commission to the European Parliament, the European Council, the Council, the European Central Bank, the European Investment Bank and the Eurogroup. Coordinated economic response to the COVID-19 outbreak. Brussels, 13.03.2020, COM (2020) 112 final, see Point 4.1.

48.COVAX is one of the three pillars of the COVID-19 Tool Access Accelerator (ACT), which was launched in April in response to the pandemic, see https://www.gavi.org/vaccineswork/covax-explained. The vaccine pillar of the ACT Accelerator was launched by the Coalition for the Promotion of Innovations for Epidemic Preparedness (CEPI), the Gavi Alliance for Vaccines (Gavi) and the World Health Organization (WHO), is rapidly looking for an effective vaccine for all countries. At the same time, it is supporting manufacturing capacity building and purchasing supplies in advance so that 2 billion doses can be distributed equitably by the end of 2021, see https://www.who.int/en/initiatives/act-accelerator/covax.

49.World Health Organization, “More than 100 economies have benefited from the COVAX mechanism 42 days after the first international delivery”, see at https://www.who.int/es/news/item/08-04-2021-covax-reaches-over-100-economies-42-days-after-first-international-delivery.

50.Section 5 of section IV. Budget Committee included in Annex VI competences of the permanent parliamentary committees of the Rules of Procedure of the European Parliament, 9th term, January 2021, 2019-2024. See, https://www.europarl.europa.eu/doceo/document/RULES-9-2021-01-18_ES.pdf.

51.Section 3 of section V. Budget Control Committee included in Annex VI competences of the permanent parliamentary committees of the Internal Regulations of the European Parliament, 9th term, January 2021, 2019-2024. See, https://www.europarl.europa.eu/doceo/document/RULES-9-2021-01-18_ES.pdf.

52.Section 7 of section VI. Committee on Economic and Monetary Affairs included in Annex VI powers of the permanent parliamentary committees of the Rules of Procedure of the European Parliament of the Rules of Procedure of the European Parliament, 9th term, January 2021, 2019-2024. See, https://www.europarl.europa.eu/doceo/document/RULES-9-2021-01-18_ES.pdf.

53.Report on financial activities of the European Investment Bank: 2019 Annual Report, Committee on Budgets, European Parliament, [2019/2126 (INI)], Session Document A9-0081 / 2020, 03-10-2020, by Mr David Cormand (Greens / EFA, FR) see at https://www.eib.org/en/press/news/european-parliament-reports-on-eib-annual-activities.

54.Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions, Investment Plan for a Sustainable Europe-European Green Investment Plan, dated 14.1.2020 (COM (2020) 21 final).

55.Communication from the Commission, Action Plan: Financing sustainable development, of March 8, 2018, [COM (2018) 0097].

56.Suggestion 6 from the Activity Report.

57.Suggestion 7 from the Activity Report.

58.Case 146/2017 / DR.

59.Suggestion 16 from the Activity Report.

60.Suggestion 17 from the Activity Report.

61.Suggestion 18 from the Activity Report.

62.Suggestion 19 from the Activity Report.

63.Suggestion 20 from the Activity Report.

64.Report on the control of the financial activities of the European Investment Bank: 2018 Annual Report (2019/2127 (INI), Committee on Budget Control, European Parliament, Session Document A9-0118 / 2020, dated 06-16– 2020, by Mr Bas Eickhout, see at, https://www.eib.org/en/press/news/european-parliament-reports-on-eib-annual-activities.