| Headline: Why the marble remains tarnished Source: Euromoney Date: April 2001 Author: Nick Kochan The marble floors are still in place at the EBRD’s office on London’s Bishopsgate, the grand pillars and glass still deck the waiting area and the presidential suite remains with its grand vistas. But little else at the EBRD remains of the Jacques Attali era. Since he launched the bank with such a grandiose vision 10 years ago, it has fallen on leaner times. The grand claims to transform entire economies have been replaced by the limited promises to clean up management practices in its designated area of interest in eastern and central Europe. The men now running the show are no longer Europe’s heavy hitters but technocrats bent as much on curbing internal costs as doing imaginative deals.
It is also a more chastened and less optimistic institution. The EBRD’s early bankers saw themselves as providing seed finance for the eager entrepreneurs waiting to throw off the Communist yoke and build businesses. | |||||||||||||||||||||||||||||||||||||||||