Local view for "http://purl.org/linkedpolitics/eu/plenary/2004-03-31-Speech-3-108"

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"en.20040331.3.3-108"2
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". The Guarantee Fund was originally established as a way of protecting the EU budget from potential risk in relation to its growing external loans. The guarantee fund mechanism covers three different types of lending in third countries: guarantees for EIB lending, for EU macro-financial assistance loans (MFA) and for Euratom external lending. In this context, the Fund is also an important instrument for our policy of cooperation with third countries. The aim of this proposal is to remove the new Member States from the coverage of the fund, provided that they do join the European Union, and to establish a uniform framework for future rounds of enlargement. We have no objections to this. We do, however, agree with the rapporteur’s view that the funds’ parameters should be set more appropriately, because they could be seen as being over-cautious. Amongst the amendments that are proposed, we feel that it would be useful but somewhat unrealistic slightly to relax the provisioning rate of the Fund before the current financial perspective runs out. As the rapporteur confirms, the Commission should carefully assess the fund’s financial parameters and submit proposals that are more in line with the real risks within the post-2006 framework."@en1

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