“Europe must strengthen its autonomy” - EIB President Calvino: Lawmakers, act faster
As the war in the Middle East escalates, Europe must reinforce its strategic autonomy, from energy to defense, according to Nadia Calviño, president of the European Investment Bank, who called on lawmakers to act faster and be bolder.
"These tensions are clearly not conducive to a framework of stability, peace and investment. The current escalation makes it more urgent than ever for Europe to strengthen its autonomy," she said.
As Europe aims to rearm by 2030, the EIB has emerged as a catalyst for defense spending and projects and is facing pressure to become the equivalent of a European defense bank, moving away from its traditional mandate.
The EIB spent 5% of its overall budget on defense, or roughly 4 billion euros. However, under its current mandate, the bank is prohibited from investing directly in weapons or ammunition, but is allowed to finance so-called “dual-use” equipment, such as drones and helicopters.
Although not directly involved in the US-Israeli military operation against Iran, the war also comes with conditions for Europe, as the global energy market has been shaken by Iranian attacks on Gulf countries. This week alone, European base gas prices rose by 80% in two days.
For Europe, energy has become its Achilles heel since the sudden interruption of cheap Russian gas flows following the invasion of Ukraine in 2022. Since then, the EU has tried to diversify suppliers from the United States, the Gulf and third countries such as Azerbaijan.
Calviño said that hard lessons from the war in Ukraine mean that European companies have built alternative sources, but acknowledged that this has been a barrier to competitiveness compared to other regions such as the US and China, which have access to cheaper energy and lower production costs associated with energy supply.
9 out of 10 businesses in Albania are in the services sector/ Trade convincingly leads the turnover. Tourism and energy follow.
The Albanian economy continues to rely heavily on the services sector. According to the final results of the Structural Enterprise Survey, published by the......
Urban redevelopment in Astir nears - 88.5 million lek investment for “Joklin Persi” and “Arben Mekshi” streets
The Municipality of Tirana has announced the opening of the competition for the construction of the “Arben Mekshi” and “Joklin Persi” roads. The estimated......
Customs seize 920 electronic devices
Following continuous controls for compliance with legality, the Rinas Customs Branch announces that it has blocked 920 "Apple" and "Samsung" electronic......
Exchange rate/ British Pound and Swiss Franc strengthen
The US dollar started the day negatively, suffering a slight decrease in value from the previous day, as it was bought today at 82.3 lek and sold at 83.4 lek......
Solar energy reaches record in Albania - 13.2% of domestic production in 2025, production from hydropower plants decreases
Electricity produced by solar plants has increased significantly during 2025, reaching for the first time 13.2% of the net domestic electricity production.......
How much does the EU lose from counterfeit goods? - Chinese goods lead. Full customs inspection, still difficult
Officials at Liege Airport, Europe's fifth-largest cargo hub and one of the main gateways into Europe for retailers from outside the bloc, are warning that......
"We can't afford it" - EU workers leave Germany
For a long time, skilled migration helped keep Germany's job market afloat. But a new study by the Labor Ministry suggests that a growing number of EU......
"We provide security for maritime commerce in Hormuz" - President Trump speaks about escorting oil tankers
President Donald Trump said he had ordered the U.S. International Development Finance Corporation to provide political risk insurance and financial......
