Monday, December 20, 2004

Ah ha! moment

The Anglo-Saxon Chronicle has an excellent article on two loans to the BBC by the European Investment Bank. The loans for £66m and £25m respectively are made at zero margin over the bank's own cost of capital. Anoneumouse wonders if this is why the BBC is so pro-European.

He is surely right to do so. What might be interesting would be to get a look at the loan documentation. If there is a formal quid pro quo for the loan this might be the place to find it. If there isn't then why is the EIB, a bank set up with the sole purpose of promoting European integration, lending to the BBC at all?

I wonder if the loan documentationwill be available under Freedom of Information?