Chapter 6 Small words, big changes

Deciphering the European Investment Bank: History, Politics and Economics examines the European Investment Bank (EIB), the European Union’s financial institution and the largest lender and borrower among the International Financial Institutions. Since its establishment in 1958, the EIB has developed without becoming front-page news and has remained highly invisible. By putting together 14 chapters that analyze topical and meaningful moments and aspects of the bank, this edited book offers the first comprehensive analysis of its origins and its evolution in terms of its mandate, governance, structures, policy activity, and performance. Written by acknowledged experts from various disciplines, the chapters weave together history, economics, law, and political science to provide a multidisciplinary examination and capture the complexity of the EIB. The book is a timely initiative for understanding the EIB, whose role has been ever increasing for contributing to the recent global economic challenges, including the economic and financial crisis, climate change, and COVID-19 pandemic. The chapters are written at a level which will be comprehensible to undergraduates in economics, history, and international political economy. It will also be a valuable source of reference for academics, policy makers, bankers, and other practitioners interested in regional development banks and their role in the global economy

Using Business Models in Hindsight

Purpose: Develop a method for an extended “fore-and-aft” use of business models. The method will turn them also into potent business history tools, in addition to being valuable forward planning instruments. Approach: Business models can be used to understand organizations by studying them as “snapshots” at any given time or accounting for their evolution by comparing their past successive forms on a temporal axis. The paper proposes a method of evolutionary analysis, which, by following a historical institutionalism approach, identifies “critical junctures”, organizational change and business model revisions. The evolution of organisations can be deciphered by comparing the business models at these “critical junctures”. Findings: The method has been tested in two international financial institutions. Value: There is no similar approach and use of business models. The method can serve scholarly purposes and business applications

Oral Hygiene Facilitators and Barriers in Greek 10 Years Old Schoolchildren

Aim: The aim of this study was to determine the oral hygiene facilitators and barriers for 10 years old Greek children, via a questionnaire and clinical examination. Materials and Methods: This was a cross-sectional study of 266, 10 years old, children recruited from schools in 3 locations in Greece. Data were collected via questionnaires and clinical examination. Questionnaires referred to children\u27s oral hygiene knowledge, behavior and attitude as well as parents\u27 oral hygiene behavior and educational level. Children were clinically examined by two calibrated pediatric dentists using a WHO probe and artificial light to assess dental plaque (hygiene index-HI), gingivitis (simplified gingival index-GIs) and dental caries (DMFT-BASCD criteria). Results: Regarding oral hygiene knowledge, although 80% of the children were literate of the proper means of oral hygiene, only 58.64% brushed their teeth twice daily and 36.84% used dental floss. Children\u27s oral hygiene knowledge was positively correlated with both parental brushing frequency (ρ = 0.175, p \u3c 0.05) and educational level (ρ = -0.216, p \u3c 0.05). Toothpaste use was reported by 92.11% of the children. Regarding children\u27s attitude, 62.28% were concerned whether their teeth were clean, with girls showing greater concern than boys (p \u3c 0.001). Their reported beliefs regarding brushing avoidance were boredom (84.06%), low oral health literacy (73.91%) and forgetfulness (56.52%). Conclusion: Oral hygiene facilitators were found to be the concern about how clean were their teeth, oral health literacy of both children and parents and toothpaste appeal to children. Oral hygiene barriers were children\u27s boredom, low oral health literacy, forgetfulness and low socioeconomic level

Chapter 6 Small words, big changes

Deciphering the European Investment Bank: History, Politics and Economics examines the European Investment Bank (EIB), the European Union’s financial institution and the largest lender and borrower among the International Financial Institutions. Since its establishment in 1958, the EIB has developed without becoming front-page news and has remained highly invisible. By putting together 14 chapters that analyze topical and meaningful moments and aspects of the bank, this edited book offers the first comprehensive analysis of its origins and its evolution in terms of its mandate, governance, structures, policy activity, and performance. Written by acknowledged experts from various disciplines, the chapters weave together history, economics, law, and political science to provide a multidisciplinary examination and capture the complexity of the EIB. The book is a timely initiative for understanding the EIB, whose role has been ever increasing for contributing to the recent global economic challenges, including the economic and financial crisis, climate change, and COVID-19 pandemic. The chapters are written at a level which will be comprehensible to undergraduates in economics, history, and international political economy. It will also be a valuable source of reference for academics, policy makers, bankers, and other practitioners interested in regional development banks and their role in the global economy

The European Investment Bank's 'Quantum Leap' to Become the World's First International Climate Bank

In November 2019, the European Investment Bank (EIB) announced its 'metamorphosis' into a 'Climate Bank.' Associated with the EU’s Green Deal, presented a month later, the EIB claimed to be the first international climate bank and a front runner in the EU’s priority climate agenda. The EIB is mandated through the treaties to support EU policymakers. However, with its 'makeover,' the EIB also announced the launch of a new climate strategy and energy lending policy, ending fossil fuel financing after 2021. It is thus valuable to examine the question of whether the EIB has developed into a policymaker, and if so, how this can be best understood. In exploring this question, this article follows a principal-agent approach, attempting to discern the rational interests behind organisational rhetoric and posits that the EIB's claimed transformation hints at a type of policymaking activism, exploiting a policy window to serve the EIB’s rational interests in a strained political and market contest. This represents a paradigm shift in the EIB's institutional behaviour and rhetoric within the EU governance constellation and is, in fact, in this sense a 'quantum leap' as suggested by the EIB. However, it remains to be seen if the bank's metrics will prove a bold departure from their current activity or simply another adaptation to a policy field of intense interest to the EU, as has occurred on several occasions in the past

Comparative Clinical Study Testing the Effectiveness of School Based Oral Health Education Using Experiential Learning or Traditional Lecturing in 10 Year-Old Children

Background School based oral health education through traditional lecturing has been found successful only in improving oral health knowledge, while has low effectiveness in oral hygiene and gingival health. The aim of this study was to evaluate the effectiveness of experiential learning (EL) oral health education to traditional lecturing (TL), on enhancing oral health knowledge, attitude and behavior as well as oral hygiene, gingival health and caries of 10-year-old children. Methods Eighty-four children were recruited for the EL and 100 for the TL group from 3 locations in Greece. Data regarding oral health knowledge, attitude and behavior were collected via questionnaires. Data regarding dental plaque, gingivitis and caries were collected by clinical examination. The evaluation using questionnaires and clinical examination was assessed at baseline and 6 and 18 months afterwards. Two calibrated pediatric dentists examined the students using a periodontal probe and artificial light. Modified hygiene index (HI) was used for dental plaque recording, the simplified gingival index (GI-S) was used for gingivitis and DMFT, based on BASCD criteria, for dental caries. Based on a dedicated manual, the teacher applied in the classroom the oral health educational program using EL. Results EL group had statistically significant better hygiene than the TL at 6 months (p \u3c 0.05). Within the same group, both groups had enhanced oral health knowledge at 6 and 18 months (p \u3c 0.05) and improved oral health behavior (p \u3e 0.05) and attitude (p \u3e 0.05) at 6 months in comparison to baseline. Conclusion EL program was found more successful than TL in oral hygiene improvement. Both oral health education programs improved the oral health knowledge, attitude and behavior of children

Chapter 1 A bank, not a fund

Deciphering the European Investment Bank: History, Politics and Economics examines the European Investment Bank (EIB), the European Union’s financial institution and the largest lender and borrower among the International Financial Institutions. Since its establishment in 1958, the EIB has developed without becoming front-page news and has remained highly invisible. By putting together 14 chapters that analyze topical and meaningful moments and aspects of the bank, this edited book offers the first comprehensive analysis of its origins and its evolution in terms of its mandate, governance, structures, policy activity, and performance. Written by acknowledged experts from various disciplines, the chapters weave together history, economics, law, and political science to provide a multidisciplinary examination and capture the complexity of the EIB. The book is a timely initiative for understanding the EIB, whose role has been ever increasing for contributing to the recent global economic challenges, including the economic and financial crisis, climate change, and COVID-19 pandemic. The chapters are written at a level which will be comprehensible to undergraduates in economics, history, and international political economy. It will also be a valuable source of reference for academics, policy makers, bankers, and other practitioners interested in regional development banks and their role in the global economy

European Integration and the Peripheral Disparities in Greece. The way ahead

As the main initiatives in economic and regional policy in Greece focuses on creating favourable conditions for general economic growth and innovation rather than regional redistribution and cohesion, the future of the peripheral areas is largely a local concern and to an increasingly degree depending upon European co-operation and initiatives. Recent studies point to the fact that there has been a convergence in terms of economic development between the countries in the EU during the last two decades. However, simultaneously with the reduced economic disparities at a national level, there has been increasing disparities between regions within countries. Not surprisingly, it is the European capital and metropolitan regions that display the strongest economic growth, while the peripheral and largely rural regions are lagging behind. As a consequence, there has been an increasing spatial polarization in the EU-27 countries. At a policy level, the EU has had its primarily focus on the objectives of economic growth and competitiveness (the Lisbon Strategy) and sustainable development (the Gothenburg Strategy). However, in 2004 the European Commission’s Third Cohesion Report, identified territorial cohesion as a additional strategic policy objective. The instruments for achieving the objective of territorial cohesion is the co-ordination of Regional Policy with various sectoral policies and initiatives. The principle of territorial cohesion has been pushed strongly by the Conference for Peripheral and Maritime Regions (CPMR), founded in 1973. One area where CPMR has been particularly active during the last years is on the initiative taken by the European Commission concerning a future EU Maritime Policy, which has been out for public consultation as a Green Paper between June 2006 and June 2007. Undoubtedly, Greece is attempting to achieve the EU policy objectives of economic growth and competitiveness (the Lisbon Strategy) and comply with the principles of sustainable development (the Gothenburg Strategy). In doing this, Greek regional policy, as in most of Europe, has undergone a significant shift from being based on direct economic subsidies to the creation of favorable conditions for development and growth. In terms of organization it is also evident that new structures are put in place, which on the one hand strengthens activities at the regional level, and on the other hand secure channels for carrying out governmental national policies. However, while the emphasis on growth and competitiveness is clearly the guiding principle in the Greek economic and regional policy, the issue of territorial cohesion is not addressed explicitly

Towards Europe 2020 out of the economic crisis: is the Project Bond Initiative a means to financial stability and integration?

Since the establishment of the single monetary policy and introduction of the euro, it is pertinent to investigate the link between financial stability and integration. Is there a complementarity between the two or are financial stability and integration a contradiction in terms? In other words, isn’t a search for a highly integrated financial system that would strengthen stability a bit like a search for the Holy Grail? Investment has been the cementing element of EU integration, institutions and policies – in brief, in creating more Europe. More concretely, investment in people, in knowledge and in physical assets, to ensure that Europe preserves its role and position in the world. The current crisis transcends national, even continental borders. Europe is reminded of its severity on a daily basis. Record unemployment is one of the consequences; shrinking public budgets and financial austerity another. In the run-up to the current recession investment grew by 5-6% a years. Exporters and home buyers drove this expansion, which ended in 2008. Since then, the lack of investment has been a main source of demand weakness in the European Union. A collapse of investment activity of this magnitude has inevitable repercussions for economic expansion in the longer term. If productive capital stocks do not grow – indeed, if they are not even maintained - EU growth potential will inevitably shrink. A revival of investment activity is therefore crucial to the long-term growth prospects of Europe. One precondition for such an investment revival is access to reasonably priced funding for long-term projects. The process of fiscal consolidation at national and European level has already placed a severe restriction on public budgets – and will continue to do so in the medium term. This pressure means that the EU has to find ways to achieve more with less. In particular, at European level, one needs to ensure that a limited EU budget is used to maximum effect. The newly established EU project bond initiative is seen as a means to go ahead in the current circumstances. As it does not impose an additional burden on domestic budgets, sovereign debt or contingent liabilities. The review looks into the type of investment that can be catered by the project bond initiative and the sectors selected for magnifying the growth potential