A new boost for European

Investments(Supporting slides)

Dario Scannapieco

Vice President European Investment Bank

IFSWF 2015

Milan, 30 September 2015

GDP level 2014 > to 2008 & GDP level 2015 > to 2008GDP level 2014 < to 2008 & GDP level 2015 > to 2008 GDP level 2014 < to 2008 & GDP level 2015 < to 2008

Source: EC Winter 2015 forecasts

2014 2015

-1.5 to -0.5

-0.5 to 0.5

0.5 to 1.5

1.5 to 2.5

EU Non-Homogeneous GDP and Inflation Trend

PIL Inflation

Non-homogeneus EU growth

European Investment Bank Group 2

2008

Unemployment

• Encouraging signals (Q4 2014 YoY: +0.9% in EA; +1% in EU28), but problems persist

• Reducing unemployment on going but still not to pre-crisis levels

• Demography and current migration streams: what impact on EU employment

Unemployment rate during the crisis (2008-2013)

Source: Eurostat

European Investment Bank Group 3

Source: Eurostat

GDP and Investments in Europe(2007 = 100)

Investment trend 2007 vs 2013 (%)

Investment Trends

European Investment Bank Group 4

Real fixed investment

Real infrastructure investment

Investment trends

Fonte: INTAN-Invest, Ameco, Eurostat and OECD.

Nb: Index average 2008=100.

Core: AT, BE, DK, DE, FI, FR, LUX, ND, SW, UK; VMS: CY,

GR, ES, IE, IT, SLO, PT; Cohesion: BG, CR, ES, HR, HU, LIT,

LA, MA, PL, RO, SK

European Investment Bank Group 5

FDI inward vs outward EU Investments

6European Investment Bank Group

European Governance Evolution

7European Investment Bank Group

2008 2010

2011 2013 2015

2012 2014 2016

2009

- EU

Economic

Recovery

Plan

- EBA

- 5

President’s

Report

- Juncker

Plan

- EFSI

- ESFS

- ESRB

- Basel III

- ESM

- EIB Capital Increase

- ECB Monetary

measures (LTRO,

TLTRO, SMP,

OMT,etc.)

- Enhanced fiscal

coordination (6-pack,

2-pack, fiscal compact,

etc.)

- EIB

Capital

Increase

- EU 2020 Strategy

- Solvency II

IPE: Every piece of the puzzle counts

8European Investment Bank Group

Investment Plan for Europe (IPE):

• Guarantee Fund (EFSI)

• EU Advisory Hub

• Structural Reforms in Member States

European Fund for Strategic Investments (EFSI)

9European Investment Bank Group

10European Investment Bank Group

Making a difference: EIB Group results 2014

“ L’Europa avanza scegliendo quasi sempre la

strada sbagliata dopo avere accuratamente

scartato quelle migliori.

Ma sia pur di traverso, avanza.”

“Europe advances almost always by choosing the

wrong path after having carefully discarded the

other best. But even if sideways, it advances”.

( Giuliano Amato: Vice President European Convention)

11European Investment Bank Group