mr president when i look at the projects the eib finances i am struck by how many involve large companies and how few involve the smes they are supposed to help
do companies such as general motors electrolux and arcelor mittal really need to use the eib except for the soft terms they offer
and what have such loans done for the european economy
have they created jobs
no they have exported jobs sometimes to cheaper european countries and sometimes outside the eu altogether
electrolux is an example of eib success
lent eur two hundred and fifty million for capacity enhancement they built new factories in poland romania and hungary
as soon as these were completed they transferred production there from the uk with the loss of almost two zero jobs in spennymoor england so i think we can all agree that the eib plays a very important role in the economy of europe particularly on the balance of trade it exports our jobs and imports unemployment
