military spending; public development bank; borrowing; European Union; European Bank for Reconstruction and Development; European Investment Bank
Abstract :
[en] The need to find additional funds in the European Union to purchase military equipment has encouraged various proposals to create a new multilateral financial mechanism. The UK Treasury has explicitly drawn on the precedent of the European Bank for Reconstruction and Development (EBRD) as a model for the new mechanism. The EBRD precedent also offer lessons in coordination problems with existing public development banks and notably the European Investment Bank (EIB). The creation of a defence funding mechanism also carries the risk of further undermining parliamentary control of European-level borrowing.
Disciplines :
Political science, public administration & international relations
Author, co-author :
HOWARTH, David ; University of Luxembourg > Faculty of Humanities, Education and Social Sciences (FHSE) > Department of Social Sciences (DSOC) > Political Science
SPIELBERGER, Lukas ; University of Luxembourg > Faculty of Humanities, Education and Social Sciences > Department of Social Sciences > Team David HOWARTH
Language :
English
Title :
The challenge of creating a European ‘Rearmament Bank’
