Economic Diplomacy and Foreign Policy: Friends or Foes?

This video provides a recap of an event hosted by the European Political Strategy Centre entitled “Economic Diplomacy and Foreign Policy: Friends or Foes” (http://ec.europa.eu/epsc/events/detail/2016-02-25-economic-diplomacy_en.htm) on 24 February 2016. The event took place as the Commission is preparing to present its proposal later this year for a mid-term review of the EIB’s external lending mandate. Speaking to an audience of businessmen and EU diplomats that included European Comission Vice-President Jyrki Katainen, EIB President Werner Hoyer took the opportunity to call for an end to the “artificial division” that limits EIB activity outside the EU to 10 percent of its total business volume. “By moving from grants and subsidies to loans and guarantees, we are indirectly increasing the value and amount of public involvement into the economy, and making a fundamental paradigm shift in the use of EU public funds – away from grants and subsidies in favour of loans and guarantees. […] We need a Juncker Plan for outside the EU because all our challenges cannot be met with just public money.”
Copyright: European Union, 2016



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