Money Machine

[Dennis Robert Redmond]

Ah, the delights of seignorage. The EIB raised its statutory ceiling on
borrowing to 375 billion EUR, which will, so runs the press release,
"allow for overall growth of the Bank's lending activities in the years
2003 - 2008" (current bank size: 221 billion EUR, about a quarter the size
of Deutsche Bank). Lots of money will flow into high-tech and enviro
sectors, plus there's fresh cash for the Maghreb and the accession
countries. Full release:

http://www.eib.org/news/press/press.asp?press=2601

-- DRR