The European investment bank: The EU's neglected institution

Abstract

The European Investment Bank is the largest multilateral lender in the world, facilitating total spending which is equivalent to the total of the EU budget. Its activity thus has a potentially huge effect on EU policy-making, yet research to date has failed to recognize this. This article addresses this, offering detailed empirical analysis and re-evaluating debates on multi-level governance. © 2009 Blackwell Publishing Ltd.