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DOCUMENTS "COM"
COM (80)863
Vol.1980/0273

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COMMISSION OFTHEEUROPEAN COMMUNITIES
COM(80)863final/2
Brussels.12thDecember1980Thisdocumentcancelsanareplaces
documentC0M(80)863finalof
5thDecember1980(Proposal)
PROPOSAL FORACOUNCILDECISION
CONCERNING COMMUNITY AIDGRANTEDBYWAYOFEXCEPTION
INRESPECTOFTHERECONSTRUCTION OFTHEREGIONSAFFECTED BY
THEITALIANEARTHQUAKE INNOVEMBER1980
(presentedbytheCommissiontotheCouncil)
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COM(80)863final/2

Proposai foi *a
COUNCIL DECISION No.
concerning Community aid granted "byway ofexception inrespect of
thereconstruction oftheregions affected "bytheItalian earthquake
inNovember 1980 .
THECOUNCIL OPTHEEUROPEAN COMMUNITIES ,
Having regard totheTreaty establishing theEuropean Economic
Community ,and inparticular Article 235thereof ;
Having regard totheproposal fromtheCommission ^^;
(2)Having regard tothe opinion ofthe European Parliament ; .-
Whereas the regions ofCampania and Basilicata were devastated "by
anearthquake inNovember 1980 and itisimportant tomitigate the
effects ofthis disaster onthe economic and social situation there ;
Whereas theEuropean Council atitssession of'1and 2December I98O
invited theCommunity institutions tocontribute tothereconstruc­
tion programme ofthedevastated areas inparticular bymeans of
subsidised loans ;
Whereas this isacompletely exceptional situation requiring rapid
and effective remedies ;
Whereas Council Decision No.78/870/EECof16October 1978 provides
ameans ofrealizing this objective(3 )«
Whereas itisappropriate toprovide forinterest subsidies ,chargeable
totheCommunities *general budget onloans granted forthis purpose
under theprovisions ofthenewCommunity instrument (3)oronthe
European Investment Bank 'sownresources ;
Whereas theEuropean Investment Bank hasdeclared itswillingness to
cooperate intheimplementation ofthepresent Decision ;
Whereas theTreaty makes noprovision forthepowers ofaction re­
quired forthis purpose ,
HAS DECIDED ASFOLLOWS 1
(1)
(2)
(3)

-2-
Art iclg1
The following paragraphs are .hereby added toArtiole 1ofDecision
78/870/EEC :
"'The Commission shall beempowered tocontract ,byway ofsole
exception ,onbehalf oftheEuropean Economic Community ,loans
for thepurpose offinancing investments for thereconstruction
ofthe »means ofproduction and economio and social infrastruo -
tures intheregions affeoted bythe Italian earthquake in
November I98O .
Theamount ofthe principal ofsuch loans maynot exceed the
equivalent of1000 million ECU subject todeduction inrespect
ofanyoperations ofthe same nature carried outbytheE.I.B.
out ofits own resources ."
Article 2
Interest subsidies onaprincipal notexceeding theequivalent of
1000 million ECU ,chargeable tothe general budget oftheEuropean
Communities ,maybegranted onloans made either bytheEuropean
Investment Bank out ofitsownresources orunder thenewCommunity
instrument ,asprovided forinArtiole 1ofthis Decision ,infavour
ofinvestments carried outintheregions affected bytheItalian
earthquake ofNovember 1980 .
Article 3
TheCommission shall ,onthebasis ofprojects submitted bythe
Italian authorities ,grant theinterest subsidies each year .
Thesubsidy rate ishereby fixed atyfoperannum foramaximum
period of12years .
Article 4
When theborrowings are expressed ,payable orrepayable inthe
currency ofaMember State ,they maybeconcluded only with the
agreement ofthe competent authorities ofthat State .
Article 5
The financial control and audit ofthe Commission 'saccounts shall
becarried outinaccordance with theFinancial Regulation applicable
tothegeneral budget oftheEuropean Communities . .
Article 0
Implementing rules inrespect ofthis Deoision shall beadopted by
the Commission .
Article 7
TheCommission shall annually inform theCouncil and theEuropean
Parliament oftransactions carried out under this Deoision .
Article 8
This Decision shall apply with effect from 1January 1981 .
Done atBrussels ,..... e.