WRITTEN QUESTION No. 1855/98 by Marie-Noëlle LIENEMANN to the Commission. Crédit Lyonnais
Date: 1998-06-05
Institutions: European Parliament, LIENEMANN
Subjects: European Commission, France, State aid, bank, control of State aid, job preservation

C 13/102

Official Journal of the European Communities

EN

18.1.1999

To emphasise the importance of existing cooperation in its future dealings with Mexico, the Commission
negotiated the inclusion in the Economic Partnership, Political Coordination and Cooperation Agreement, also
signed last December, of a specific chapter on cooperation in the sphere of human rights and democracy (Article
39). This Agreement requires the assent of Parliament and the approval of the Council. As a mixed agreement, it
also requires the approval of the Member States.

The Commission will continue to use every means at its disposal to step up its dialogue with Mexico to achieve
greater recognition for these issues and so make a more effective and constructive contribution to improving the
country(cid:146)s human rights situation.

(1999/C 13/145)

WRITTEN QUESTION P-1855/98

by Marie-Noºlle Lienemann (PSE) to the Commission

(5 June 1998)

Subject: CrØdit Lyonnais

What steps has the Commission taken following the draft agreement reached with CrØdit Lyonnais to maintain
existing employment levels in all CrØdit Lyonnais(cid:146) branches and subsidiaries?

Answer given by Mr Van Miert on behalf of the Commission

(6 July 1998)

Following an agreement reached with the French Government on the measures required in return for the
considerable amount of state aid granted to CrØdit Lyonnais, the Commission decided on 20 May 1998 to
authorise the extra aid for the bank. This aid supplements the aid already approved by the Commission in 1995
and 1996 and brings total aid to within an estimated range of between FRF 102 billion and FRF 147 billion, an
amount of aid to a single enterprise which is unique in the history of the Community.

The Commission has not reached any agreement with CrØdit Lyonnais. Where state aid is concerned, it has
contact with the national authorities only. It is for them to present, in cases of restructuring aid such as the case at
issue, a plan for restructuring the assisted enterprise which is as compatible as possible with their employment
policy objectives. It is for the Commission to ensure that, if any jobs are preserved by means of such aid, this is
not at the expense of employment in other Member States to an extent which is contrary to the common interest.
On the basis of the procedure which it recently terminated, the Commission considers that the aid granted to
CrØdit Lyonnais is compatible with the common interest and does not have such an effect, in particular because
CrØdit Lyonnais will be obliged to reduce its activities very considerably in terms of a reduction in its balance
sheet of over a third compared with the situation at the end of 1994. Limiting state aid and imposing
compensatory measures on the least successful credit institutions receiving aid are measures that help to
consolidate the banking sector, and this can only contribute in the long term to the development of a competitive
financial sector in Europe and to the Commission(cid:146)s and the Member States(cid:146) objectives with regard to
employment and the fight against joblessness.

The Commission is very conscious of the employment implications of company restructuring and encourages
social dialogue in such situations. The challenge of industrial change will be met successfully only if effective
and constructive social dialogue is developed at all levels, and initially at individual company level, particularly
on key issues such as the preservation of employment. This is also a central recommendation of the high-level
group on the economic and social implications of industrial change set up by the European Council.