Local view for "http://purl.org/linkedpolitics/eu/plenary/1999-11-18-Speech-4-312"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"1999-11-18"^^xsd:date2
dcterms:Is Part Of	lp_eu:Losses under loans for projects outside the Community2
dcterms:Language	"fi"^^xsd:language2
lpv:document identification number	"en.19991118.17.4-312"2
lpv:hasSubsequent	lp_eu:1999-11-18-Speech-4-3132
lpv:speaker	lp:Kyösti Virrankoski2
lpv:spokenAs	unknown; Suomen Keskusta (1999-07-20--2004-07-19)3 substitute; Delegation to the EU-Bulgaria Joint Parliamentary Committee (1999-09-29--2002-01-14)3 member; BUDG (1999-07-21--2002-01-14)3 substitute; CONT (1999-07-21--2002-01-14)3 member; Delegation to the EU-Estonia Joint Parliamentary Committee (1999-09-29--2002-01-14)3 member; ELDR (1999-07-20--2004-07-19)3
lpv:translated text	"Mr President, this report by Mrs Rühle is excellent, as it underlines the principles which the European Parliament has held as important when we have tried to improve our administration. The reports by Mrs Rühle and Mr Seppänen both concern the same issue: guarantees against loans granted to the European Investment Bank. In itself, the European Investment Bank is an excellent instrument for financing specific projects. As the EIB has a high degree of creditworthiness, it can acquire cheap capital from the markets and target it at those areas the EU considers necessary. In this way the direct need for financial aid diminishes. There is a budget guarantee for those loans for which the EIB is responsible on behalf of the EU, which amounts to 70%. Now the matter being raised is the reduction of this figure. The Commission is proposing 60%, but the Council has decided on a provisional rate of 65%. For that reason, Parliament must first determine its position on what the correct rate should be. In determining the percentage figure our starting point is that the EU should bear the principal political risk relating to the financing of projects. This means that if the political situation in a country in which a project is to be carried out continues as predicted, there is only a financial risk attached to lending. That is normally the responsibility of the party granting the loan. In fact, the EU guarantee has also borne part of the financial risk, as these two different factors cannot be clearly distinguished from one another. The percentage rate obviously has a bearing on how many loans can be guaranteed by a sum that is contained in the financial perspectives and which is at present EUR 200 million. In practice, changing the rate may not have an effect except as a means of regulating the overall amount of loans, as the guarantees do not often have to be paid. Mr President, with these remarks I would like to express my support for the reports by Mrs Rühle and Mr Seppänen."@en1

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