WRITTEN QUESTION E-3068/02 by Roberta Angelilli (UEN) to the Commission. Price patterns in Italy following the introduction of the euro.
Date: 2002-10-25
Institutions: European Parliament, Provisional data
Subjects: EU Member State, Eurostat, Italy, consumer price, consumer protection, euro, inflation, price fluctuation, prices policy

C 155 E/86

Official Journal of the European Union

EN

3.7.2003

1.

Can the Commission confirm these data?

2.
If so, does it not consider that it should suggest convening an international conference to remedy the
devastating effects of the speculative bubble and to establish rules to prevent a huge gulf emerging between
the financial economy and the real economy?

3. What initiatives does the Commission intend to take with regard to this vast loss in wealth and to
safeguard the interests of investors?

Answer given by Mr Solbes Mira on behalf of the Commission

(28 November 2002)

The Commission cannot directly confirm the data cited in the Honourable Member’s written question, but
it certainly shares her concerns on the developments in the banking sector. However, it should also be
considered that the banking sector entered the current period of cyclical weakness with relatively strong
balance sheets and profitability.

The Commission does not consider convening an international conference to remedy the effects of the
speculative bubble, nor does it plan initiatives directly aiming at stabilising the wealth of investors. Such
initiatives are not within the institutional competence of the Commission and would in any case have a
the rapid and complete
limited impact. Conversely,
implementation of all the measures in the financial services action plan, the initiatives in the area of
corporate governance, as well as the rationalisation of the framework for Community-level regulation and
supervision, would go a long way in raising the level of investor protection, strengthening the stability of
the financial system, and increasing its efficiency, to the benefit of investor and companies alike.

the Commission would like to stress

that

(2003/C 155 E/098)

WRITTEN QUESTION E-3068/02

by Roberta Angelilli (UEN) to the Commission

(25 October 2002)

Subject: Price patterns in Italy following the introduction of the euro

In September 2002, the Italian Institute for Statistics published its data on consumer price patterns, which
showed that the underlying rate of inflation for that month was 2,7 %. The most significant increases were
in the fruit and vegetable and clothing sectors. The rise in the cost of living has led to a marked decrease
in consumption and has also impacted on the economy as a whole. Italy’s major consumer protection
organisations have responded to this problem by opening discussions with the government and with
traders’ representatives aimed at seeking a solution to these high prices.

Could the Commission therefore:

1.

2.

indicate whether it will move to harmonise European legislation in the field of consumer protection,
pursuant to Article 153 of the EC Treaty;

state whether any studies have been performed or documents produced on inflation in the European
Union following the introduction of the euro;

3.

give its general opinion on this situation.

3.7.2003

EN

Official Journal of the European Union

C 155 E/87

Answer given by Mr Solbes Mira on behalf of the Commission

(6 December 2002)

The Commission does not agree that there was a significant increase in prices linked to the introduction of
the euro. According to an analysis carried out by Eurostat and published in July 2002, consumer prices in
the euro zone, as measured by the Harmonised Consumer Price Index (HCPI), rose by 1,4 % between the
last six months of 2001 and the first six months of 2002. Of this increase 1,2 % is attributable to historical
inflation trends and specific factors not directly linked to the introduction of the euro (weather conditions,
indirect taxes, etc.). The inflationary impact of the introduction of euro notes and coins is thus limited (not
more than 0,2 %). In most Member States, similar estimates suggesting generally limited effects have been
made by national statistical
institutes and central banks. Nevertheless, abnormal price rises have been
observed in some sectors (restaurants and cafés, health services, small traders, etc.). These increases,
combined with a tendency to round prices up on certain everyday consumer products, might have
contributed to the public’s perception of a higher inflationary effect than that indicated by official indices
for all consumer goods and services. Overall, inflation has been falling since the start of 2002.

The detailed analysis of the trends of prices by subsector of activity for the first six months of the year, to
which Honourable Members can refer, was published by Eurostat on 17 July 2002 (News Release No 84/
2002).

The Commission has no intention of proposing further harmonisation of the rules on prices beyond the
existing provisions on the indication of prices and on the rounding of prices in connection with the
introduction of the euro, the application of which is a matter for the Member States.

(2003/C 155 E/099)

WRITTEN QUESTION E-3081/02

by Erik Meijer (GUE/NGL) to the Commission

(28 October 2002)

Subject: Circumvention of US legislation by a data retention requirement for electronic communications in

the EU

1.
Is it correct that on 16 October 2001 the President of the Commission received a report from the US
President seizing upon an offer made by the President-in-Office of the Council on 27 September 2000 to
improve cooperation in combating terrorism, to suggest that the EU should take measures in the area of
data retention, in other words the storing of electronic communications data so as to be able to check
whether they are being used for criminal or terrorist purposes or to track down the place of residence of
the sender in subsequent months or years?

2.
Does the Commission have the impression that this American request influenced the view taken by
the Council on 28 January 2002 that the ban on data retention for purposes other than billing should be
deleted from the draft Directive on the processing of personal data and the protection of privacy in the
electronic communications sector (C5-0028/2002), as a result of which the Council
is free to make
proposals on data retention for a period of 12 to 24 months?

3.
Can the Commission confirm that President Bush is asking the European Commission and the
Council to impose requirements on European firms which could not be imposed in the United States
under current US legislation? What is the Commission’s view of this contradiction?

4.
Is it possible that, through the exchange of data with Europe, US judicial bodies are trying to obtain
traffic data which could not be obtained under US legislation? Does the Commission find it acceptable
that, through this circuitous European route, data can be gathered and stored for the benefit of a State
which is not authorised to collect such data itself?

5.
Does the Commission share the concern expressed by civil rights organisations in the United States
and Europe who see these proposals as a breach of civil rights and who, in a letter to the Presidency, have
expressed the following views on Bush’s request for the introduction of data retention: ‘While we support