WRITTEN QUESTION No. 1814/98 by Cristiana MUSCARDINI to the Commission. Protection of small savers
Date: 1998-06-11
Institutions: European Parliament, MUSCARDINI
Subjects: Italy, access to information, company law, protection of shareholders, savings, shareholder, takeover bid

18.1.1999

EN

Official Journal of the European Communities

C 13/91

The failure of a development programme cannot be demonstrated by simply listing the problems it faces. In this
context, the report fails to question what the current situation would be without the programme, a question that an
evaluation would normally address. For instance, there is evidence that total loss of wildlife habitat in Campfire
areas is much smaller when compared to the general level of wildlife habitat loss in the Zambezi valley.
Furthermore, a programme of this nature does not only have quantitative results, but entails a number of
processes (e.g. empowerment of local communities or increased levels of self-determination) that would also
need to be analysed.

(1999/C 13/130)

WRITTEN QUESTION E-1812/98

by Felipe Camis(cid:243)n Asensio (PPE) to the Commission

(11 June 1998)

Subject: Euro-regional road telematics project for the Lisbon-Madrid corridor

The Commission is developing a series of Euro-regional road telematics projects in the Union, such as ARTS,
which runs from Lisbon to France through north-eastern Spain.

In view of the above, can the Commission say what stopped it from planning another Euro-regional telematics
project for the Lisbon-Madrid corridor, crossing the Extremadura region? Is there any prospect of its being
planned? If so, when?

Answer given by Mr Kinnock on behalf of the Commission

(29 July 1998)

The ARTS Euro-regional project is being developed as part of the projects funded by the Community through the
trans-European transport networks (TEN) budget line.

The project started in autumn 1997 and aims to improve the continuity and quality of road traffic management
and traffic information services on the main international corridors between Spain, France and Portugal.
The South corridor Lisbon-Evora-MØrida-Madrid through the region of Extremadura is part of the project.

The Commission is considering further support for the project in 1998.

(1999/C 13/131)

WRITTEN QUESTION E-1814/98

by Cristiana Muscardini (NI) to the Commission

(11 June 1998)

Subject: Protection of small savers

The Commission is certainly aware of the recent Consolidating Act governing the financial markets in Italy and
constituting an innovation with regard to the rules on corporate governance. Despite the fact that certain
provisions for the protection of small savers are positive, does the Commission not believe that:

1. Since this protection is almost exclusively for the benefit of corporate investors ( employees(cid:146) funds and

associations ) it does not in fact safeguard small individual savers?

2. The fact that a complete takeover is compulsory when a shareholder exceeds 30 % of the capital actually
produces a situation where the major groups are in a I dominating position? In the majority of Italian
undertakings holdings are actually much more concentrated, whilst in the small number of large companies
with a wide spread of shareholders ( such as recently privatized public companies ) that provision seems to
act as a deterrent to any attempts to gain majority control involving expenditure of thousands of billion lire if
that threshold is exceeded.