Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-10-23-Speech-1-122"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2000-10-23"^^xsd:date2
dcterms:Is Part Of	lp_eu:Financial assistance for Member States’ balances of payments2
dcterms:Language	"it"^^xsd:language2
lpv:document identification number	"en.20001023.10.1-122"2
lpv:hasSubsequent	lp_eu:2000-10-23-Speech-1-1232
lpv:speaker	lp:Amalia Sartori2
lpv:spokenAs	member; ECON (1999-07-21--2001-06-13)3 substitute; Committee on Development and Cooperation (1999-07-21--2001-06-12)3 substitute; Committee on the Environment, Public Health and Consumer Policy (2000-03-28--2002-01-14)3 unknown; Forza Italia (1999-07-20--2004-07-19)3 member; Committee on Women's Rights and Equal Opportunities (1999-07-21--2002-01-14)3 member; Delegation for relations with Australia and New Zealand (1999-10-06--2002-01-14)3 member; EPP-ED (1999-07-20--2004-07-19)3
lpv:translated text	". Madam President, ladies and gentlemen, today, on behalf of the Committee on Economic and Monetary Affairs, I am tabling a proposal for a resolution on the Commission's report on the single facility providing medium-term financial assistance for Member States' balances of payments. The financial assistance is currently governed by Council Regulation No 1969 of 1988. This mechanism can be activated either at the request of a Member State or under Article 119 of the Treaty establishing the European Community, a provision which remains in force during the third stage of Economic and Monetary Union for the States which are covered by a derogation, currently Denmark, the United Kingdom and Sweden. The regulation and the proposal for a regulation have merged two mechanisms (medium-term financial assistance and the Community loan mechanism intended to provide medium-term financial assistance for Member States' balances of payments) into a single facility providing medium-term financial assistance. This proposal changes the mechanism’s ceiling. The fact that, at the moment, only three countries can benefit from it suggests that the amount hitherto available – EUR 16 billion – can be reduced. At the same time, however, past experience tells us that we cannot reduce it by very much, for the very reason that the last time the mechanism was used, in 1993, the loan was for EUR 8 billion. Therefore, although the increase in convergence of States reduces the likelihood that the mechanism will be used, it must still have sufficient resources to meet the simultaneous needs of several countries, should this be necessary. This is why we propose to reduce the amount available from EUR 16 billion to EUR 12 billion. This resolution also envisages the possibility of considering creating a special mechanism providing financial assistance to the balance of payments of the candidate countries. Clearly, this is a possibility for the future and therefore does not have a bearing on the present situation, but it is a possibility which I considered that we could at least examine in some depth so that we will be prepared should these issues arise."@en1

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