(EU) - European Investment Bank - '..supporting European R&D projects..'

'..building the world's leading knowledge-based economy..'

<blockquote>'..A policy-driven bank, the EIB supports the EU’s priority objectives, especially European integration and the development of economically weak regions. Recently, the Bank has also been actively supporting European R&D projects as part of EU's objective of building the world's leading knowledge-based economy..'

- Wikipedia, European Investment Bank</blockquote>


Context '..The Third Industrial Revolution has begun (6)'

<blockquote>Europe. Economics & Energy - IT - Transport

Cloud computing for business goes mainstream

(Open Source) - '..full of creative exploration..' - '..the unschooling movement..'

Four Hundred Years of Dynamic Efficiency

Full Reserve Banking (Banking Reform)

'The Ecole Nationale d’Administration has produced .. very few entrepreneurs.'

Germany, USA - '..the problems..'

'..public finances in advanced economies were in “dire straits” .. fiscal deficits were “unsustainable.” '</blockquote>


'Although the economic pain dished out by the collapse of the artificial credit boom is great, there is no other way to reorganize the misaligned and distorted capital structure the bubble has left behind.'

<blockquote>'Now, this worsening in the data is no surprise, as the ECB's LTRO's have this time failed to lead to an increase in the euro area's money supply. In fact, in February (the most recent data available at the moment), euro area TMS contracted by 7.2% annualized, as private sector deleveraging continued apace. Note that the UK's 'double-dip' recession was also preceded by a contraction in true money supply growth (minus 9.3% annualized in February). Several governments are beginning to tighten their belts as well and the banks are trying to achieve the more stringent core tier one capital ratios that have been prescribed by the EBA (European Banking Authority) and Basel III. Thus, although indirect monetization of government debt is indeed taking place – mainly via the banking systems of Italy and Spain – no growth in the overall true money supply was achieved.

This is actually a salutary development. Although the economic pain dished out by the collapse of the artificial credit boom is great, there is no other way to reorganize the misaligned and distorted capital structure the bubble has left behind. Malinvested capital needs to be liquidated and/or transferred to better uses where possible, and labor also needs to adapt to the new reality (or rather, the unmasking of reality that the end of the credit inflation has brought about).'

- Acting Man (Source, May 3, 2012)</blockquote>