No C 341/12 Official Journal of the European Communities 19. 12. 83
Opinion on the proposal for a Council Regulation on interest subsidies for certain loans
granted under the European Monetary System
The text referred to the Committee has been published in Official Journal of the Euro-
pean Communities No C 163 of 22 June 1983, page 7.
A. LEGAL BASIS FOR THE OPINION
On 17 June 1983, the Council, acting under the optional consultation clause of the
Treaty establishing the European Economic Community decided to ask the Economic
and Social Committee for an opinion on the abovementioned matter.
Procedure
The Section for Economic and Financial Questions was instructed to draw up this opi-
nion and appointed Mr Jean Rouzier as rapporteur.
The Section adopted its opinion unanimously at its meeting on 21 September 1983.
B. OPINION OF THE ECONOMIC AND SOCIAL COMMITTEE
The Economic and Social Committee prepared its opinion on the above matter at its
210th plenary session held in Brussels on 28 and 29 September 1983. The opinion was
adopted unanimously.
The full text of the opinion is as follows:
The Economic and Social Committee approves the
Commission's proposal to extend for a further two
years interest subsidies on structural Community
loans to Ireland and Italy; the subsidies will amount
in total to 400 000 000 ECU, divided into annual
instalments of 200 000 000 ECU.
In its opinions of 10 September 1979 and 12
November 1982 (') the Committee has already
approved similar provisions for the period 1979 to
1983. The granting of interest subsidies of 3 % on
NCI and EIB loans for financing infrastructure pro-
jects or programmes has proved to be an effective
instrument for assisting the countries concerned. As
the development gap between the Member States is
as great as ever, there are sound reasons for continu-
ing the interest subsidies.
The Committee would refer to its opinions on the
use of the new Community instrument (2) and on
the economic situation in the Community (mid-
1983) (3), it would stress the special importance
which it attaches to the proposal's aim of improving
the employment situation in the areas concerned, in
addition to the contribution which it will make
towards convergence between the Member States
and to underpinning the Community's energy
policy.
Done at Brussels, 28 September 1983.
The Chairman
of the Economic and Social Committee
Francis CEYRAC
(') OJ No C 227, 1982. 10.9. 1979 and OJ No C 296, 12. 11. (
2) OJ No C 211, 8. 8. 1983.
C) OJ No C 286, 24. 10. 1983, p. 4.
Full & Egal Universal Law Academy