{"title":"A Dual Entity: The European Investment Bank and Its Lending Policy from Its Origins to the Late 1970s","authors":"Lucia Coppolaro","doi":"10.1017/s0960777323000462","DOIUrl":null,"url":null,"abstract":"By reconstructing the lending policy of the European Investment Bank (EIB) from its inception in 1958 to the late 1970s, this article shows that, until the 1970s, the EIB did not pursue EEC (European Economic Community) policies but policy elaborated at the national level. The individual member states’ political priorities and preferences played a key role in shaping the loan operations and the bank's loans were used rather more individualistically by each community country in pursuit of national aims. This situation started to change in the 1970s when internal and external developments to the EEC redeployed and refocused the methods and objectives of the bank so that lending progressively became the result of the interplay between EEC institutions. Gradually, the EIB moved away from being a mere member state's tool to pursue individual national policies, transformed into an EEC policy-driven bank and it became the financial arm of the EEC.","PeriodicalId":46066,"journal":{"name":"Contemporary European History","volume":null,"pages":null},"PeriodicalIF":0.8000,"publicationDate":"2023-08-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Contemporary European History","FirstCategoryId":"98","ListUrlMain":"https://doi.org/10.1017/s0960777323000462","RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"HISTORY","Score":null,"Total":0}
引用次数: 0
Abstract
By reconstructing the lending policy of the European Investment Bank (EIB) from its inception in 1958 to the late 1970s, this article shows that, until the 1970s, the EIB did not pursue EEC (European Economic Community) policies but policy elaborated at the national level. The individual member states’ political priorities and preferences played a key role in shaping the loan operations and the bank's loans were used rather more individualistically by each community country in pursuit of national aims. This situation started to change in the 1970s when internal and external developments to the EEC redeployed and refocused the methods and objectives of the bank so that lending progressively became the result of the interplay between EEC institutions. Gradually, the EIB moved away from being a mere member state's tool to pursue individual national policies, transformed into an EEC policy-driven bank and it became the financial arm of the EEC.
期刊介绍:
Contemporary European History covers the history of Eastern and Western Europe, including the United Kingdom, from 1918 to the present. By combining a wide geographical compass with a relatively short time span, the journal achieves both range and depth in its coverage. It is open to all forms of historical inquiry - including cultural, economic, international, political and social approaches - and welcomes comparative analysis. One issue per year explores a broad theme under the guidance of a guest editor. The journal regularly features contributions from scholars outside the Anglophone community and acts as a channel of communication between European historians throughout the continent and beyond it.