Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-10-06-Speech-5-012"

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"Mr President, ladies and gentlemen, I would like to thank the rapporteur for his report and explanatory comments. I am sure we are all agreed that Croatia must be given political assistance, but political assistance also entails financial support, because political stability is always a prerequisite to social and economic stability. This can only be achieved, of course, if there is an appropriate level of investment in this sphere. There is not a moment to lose if the fall in GDP recorded for 1999 and the increase in the budgetary deficit in Croatia are to be halted and reversed. In the final analysis, the only way to achieve this is through Croatia developing self-supporting economic cycles. The contribution under discussion, which would take the form of an EIB loan in excess of EUR 250 million for the period from 2000 to 2007, may not prove to be a milestone, but it would certainly help the process on its way. The course of action proposed by the Commission and backed by the report is the inevitable outcome. However, the problems that have come to light and which are as yet unresolved, are something else altogether. It is generally the case that new political challenges demand increased financial outlay, but not – I might add – at the expense of others. Therefore, we must think in general terms – and hopefully arrive at positive political decisions – firstly, about increasing the reserves for the guarantee fund, and secondly, about the fact that it must not be left solely to the Council to determine how the residual margin is to be used, and thirdly, about establishing binding criteria for the effective deployment of the EIB loan, so as to be able, at the end of the day, to monitor whether this package is actually consistent with the necessary objectives for which it was intended."@en1

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