Comments on: Expert group recommends setting up European standards for ‘green bonds’ https://www.euractiv.com/section/energy-environment/news/expert-group-recommends-setting-up-european-standards-for-green-bonds/ EU news and policy debates across languages Wed, 29 Aug 2018 15:45:23 +0000 hourly 1 https://wordpress.org/?v=4.9.5 By: Mike Parr https://www.euractiv.com/section/energy-environment/news/expert-group-recommends-setting-up-european-standards-for-green-bonds/#comment-333109 Wed, 31 Jan 2018 15:38:18 +0000 https://www.euractiv.com/?post_type=news&p=1209158#comment-333109 A mash-up of deck-chair re-arranging and old-style thinking. Is this the best the Euro elite can do? really? It is self serving garbage.

Extract: page 2:
The scale of the investment challenge is well beyond the capacity of the publc sector alone.

Extract page 3:
This transition towards a more sustainable economic model requires large-scale investments in the economy. The European Commission estimates that to achieve the EU’s targets for energy and climate policy alone, additional annual investments of €170 billion are required.

Moving from fantasy to fact: post-2008 Draghi the Bundesbank puppet & erstwhile head of the ECB hosed Euro60 billion PER MONTH at Euro banks (mostly German). This was PUBLIC MONEY.

But according to Dombrovskis & Katainen who wrote page 2 – there is no public money – no not even Euro15bn per month – but if Euro banks need help – well hey that is a different matter – money then is no object “Come on in here boy – have a cigar” – style of.

The sector in the report on banking is instructive. Some synchronised whining about regulation – but, oddly? no mention of the Euro60bn/month hosed at Euro banks (where did it all go?)

As for the “European Green Infrastructure Bank” – exactly what I would expect from a report produced by……errrrrrr…..b(w)ankers = jobs for the boys. Example of a discussion during the writing of the report: “sure, hey! we have the EIB – & it’s supposed to do green but what’s wrong with another bank – jobs for you, positions for me – what’s not to like – gotta keep the apple cart rolling – I got a lifestyle to keep up”.

pension funds – that need to invest in assets that provide a reasonable return over the medium/long term are listed 4th (in Section V). I guess the various groups were listed alphabetically? B for b(w)anks, I for Insurance, A for Assets etc – hmm – a new alphabet. Oddly, the pension funds have been one group that have worked with, for example, the renewables industry – but I guess mentioning that would make the b(w)anks look bad & we can’t have that – can we?

The section on credit rating agencies was entertaining from the point of view of what it missed out – don’t mention AAA+, 2007, CDOs etc and Moody’s, S&P etc. Nope can’t do that – that’s ancient history – yep they haven’t reformed but we will ignore that – and “move on”. Granny may be an alcoholic – but just don’t say anything – smile.

I had fun writing this & I meant every word. There are a growing band of “us” & we regard the authors & contributors of the report as at best a pack of fantasists and/or liars. If you do print the report – do make sure it is printed on soft absorbent paper.

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