ARCHIVESHISTORIQUES
DELACOMMISSION
COLLECTION RELIEEDES
DOCUMENTS "COM"
COM(79)441
Vol.1979/0154

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COMMISSION
DES
COMMUNAUTES EUROPEENNES
Secrétariatgénéral
PROJETDEDECISION DUCONSEIL
MODIFIANT LADECISION 77/271/EURATOMPORTANTAPPLICATION DE
LADECISION 77/270/EURATOMHABILITANT LACOMMISSION
ACONTRACTER DESEMPRUNTS EURATOM ENVUED'UNECONTRIBUTION
AUFINANCEMENT DESCENTRALES NUCLEAIRES DEPUISSANCE
(présenteparlaCommission auConseil)COM(79)441 final
Bruxelles,le30juillet1979
DOCUMENT INTERNE
C0M(79)441final

AUflEXE
THECOUNCIL OFTHEEUROPEAN COK-IUmTIES ,
Having regard totheTreaty establishing theEuropean Atomic Energy Community ,
Having regard^to Council Decision 77/270/Euratom of29March 1977empowering
theCommission toissue Euratom loans forthepurpose ofcontributing to
thefinancing ofnuclear power stations ^andinparticular Article 1
thereof ,
Whereas theloan level of300million European Units ofAccount mentioned
inDecision 77/271/Euratom ,implementing Decision 77/270/Euratom ,which
empowered theCommission tocontract Euratom loans for the pur-oose of
2contributing tothefinancing ofnuclear power stations v ,hasbeen
reached ,
Whereas experience indicates that itisdesirable toraise ,by 10C0million
European Units ofAccount ,thetotal amount ofborrowings which the
Commission isempowered tocontract inthe name oftheEuropean Atomic
Energy Community ,
HAS DECIDED ASFOLLOWS :
Sole Article
Thesole article ofCouncil Decision 77/271/Euratom of29March
1977 isthus amended :
"Theloans asprovided forinthefirst article ofDecision 77/270/
Euratom maybecontracted foramounts thetotal ofwhich shall notexceed
1500million European Units ofAccount .
When the total value ofthetransactions effected reaches 1200million
European Units ofAccount ,theCommission shall inform theCouncil which ,
acting unanimously ,shall decide onthefixing ofanewamount assoon as
possible ."
Done atBrussels ,
For the Council
(1)0JnoLôôof0.4.>977 ,P9
(2)OJnoL38of6.4.1977 ,p.11The President

-2-
4.Cooperation "betweenEuratomandtheilB,regulated "byaconvention
notedintheCouncilminutes,hasbeenverysatisfactory .Theproposalto
raisetheceilingdoesnotaffectthisrelationship regardingEuratom
loansand"borrowings.
5.Inviewofthefactthat:
-387millionEUAmaybeplacedonreceiptofCouncilapproval,
-applicationsforthesumof845millionEUAareunderexamination,
-1010millionEUAisthetotalofapplications notifeaandpossible,
itisappropriate toasktheCounciltoapproveafurthertrancheof
1000millionEUA..
2249/79e

DRAFTC0U1TCILDECISIONIAMENDI3JGDECISION271/77EURATCM
Explanatory memorandum
1.On29March1977,theCounciloftheEuropeanCommunities adopted
Decision77/270/SuratomempoweringtheCommissiontoissueEuratomloans
forthepurposeofcontributing tothefinancingofnuclearpowerstations.
On29March1977,theCouncilalsoadoptedDecision77/271/Euratom
providingthattheloansinquestionmayhecontractedforamountsthetotal
ofwhichshallnotexceed500millionEuropeanUnitsofAccountoncondition
thatwhenthetotalvalueofthetransactions effectedreaches300million
EuropeanUnitsofAccounttheCommissionshallinformtheCouncil,which,
actingunanimously ,shalldecideonthefixingofanewamountassoonas
possible.
Finally,on21/22June1979theEuropeanCouncilconfirmedthat
ifnuclearenergyisnotdevelopedinthecomingdecades,economicgrowth
willbenolongerpossible.Programmesforthedevelopment ofnuclear
powermustthereforebegivenanewandvigorousimpetus.Inthesecircumstances
Euratommustcontributetothispolicythroughtheuseofitsfinancing
powers.
2.On15June1979,theloanpositionwasasfollows:
-Loansdisbursed :320millionEUA
-Loansagreedbutnotyeteffected .:5^7millionEUA
including :loanscoveredbyDecision
77/271s180millionSUA
:loansdecidedsubjecttothere
beingafurtherEuratomtranche387millionEUA
-Applications underexamination :845millionEUA
-Applications notifiedandpossible :1010millionEUA
3.Onthefundraisingside,Euratombondissueshaveenjoyedconsiderable
successonthecapitalmarketsinthattheyprovideinvestorswithanother
international AAArating,thusgivingthebanksaccesstoawiderrange
ofdebtors.Thepromotersfoundagreatervarietyinthesourceoffunds
available.•