Calviño: ‘A new world order is forming, don’t look to the past’

Brussels – “We must focus on what we must do rather than what others are doing.” According to the President of the European Investment Bank (EIB), Nadia Calviño, there is a political task before the industrial one. When discussing defense, one must reckon with reality and only reason with and about industry. “There is a new world order forming; what was there before will not return,” she warns, speaking at the European Defense and Security Summit. “We must not look back, but focus on the present,” and the present suggests that “right now we must promote international partnerships” since the EIB number one emphasizes, “Investing in cooperation is an investment in our security.” 

The latter is a concept on which she insists on clarifying that the EIB receives a mandate from its shareholders, i.e., the member states. If they decide that the Bank must change its lending policy, it must step back. The EIB is increasingly working in defense because that is the political impulse. However, “European security is not just defense,” Calviño points out. The EIB proves this: “In its priority list, climate remains at the top, with innovation in second.” It is not only defense, then — not in the military sense of the term.

Bce e Banca popolare cinese rinnovano e rilanciano la loro cooperazione

In promoting cooperation within the emerging new world order, “we cannot ignore China,” Calviño acknowledges. She is aware of this relationship’s challenge, starting with respect for human rights and the risk of turning partly a blind eye, but “a proper balance is needed, especially when dealing with superpowers.” With the US becoming less predictable and less trustworthy, repositioning is necessary. As far as possible, Calviño urges Europe of States to take over from the United States in promoting Western values: “We must defend democracy in the world, our values, human rights. The rest of the world is not waiting for us.”