the european investment bank

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European Investment Bank

European Green Deal Could Transform EU Politics

It is good for Europe because deep decarbonisation represents a historical occasion to modernise its economy, revitalise its industry and ensure long-term growth and jobs.

It is good for the world, because it shows that pursuing climate neutrality by 2050 is not only technically and economically possible, but also politically rewarding.

EU with Measures against Turkey's Drilling Actions near Cyprus

The European Union on Monday agreed measures to punish Turkey for pursuing drilling operations off Cyprus despite repeated warnings, AFP reports, stated by Focus News Agency.
The EU will halt high-level dialogue with Turkey, suspend talks over an aviation agreement and cut 145.8 million euros ($164 million) in pre-accession financial funds allocated for 2020.

EU comes down hard on Turkey over illegal drilling in Cyprus’ EEZ

The European Union's Foreign Affairs Council has approved measures against Turkey in response to its plans for illegal hydrocarbons drilling in the Exclusive Economic Zone of the Republic of Cyprus, confirming the 12 July decision of the Council's Permanent Representatives and the conclusions of the 20 June EU summit.

Lukewarm reaction to EU sanctions on Turkey

A first discussion will take place Wednesday in Brussels regarding a number of EU sanctions on Turkey following a call by Cyprus for EU solidarity after Turkish drilling activities off Cyprus.

The measures will likely be agreed Wednesday at a meeting of EU envoys and aproved by EU foreign ministers when they meet in Brussels next week.