WRITTEN QUESTION P-1962/03 by Georges Berthu (NI) to the Commission. Future accounting standards in the insurance sector.
Date: 2003-06-05
Institutions: European Parliament, Provisional data
Subjects: accounting, insurance, insurance company, international standard, standardised accounting system

20.3.2004

EN

Official Journal of the European Union

C 70 E/69

Answer given by Mrs Reding on behalf of the Commission

(17 July 2003)

Under Council Directive 89/552/EEC of 3 October 1989 (1), as amended by Directive 97/36/EC of the
European Parliament and of the Council of 30 June 1997 (Television Without Frontiers Directive), each
Member State must ensure that broadcasts from television broadcasters under its jurisdiction comply with
the law applicable to broadcasts intended for the public in that Member State, and must ensure freedom of
reception on its territory of television broadcasts from other Member States.

In order to avoid distortions, the Television Without Frontiers Directive contains rules which coordinate
national laws with a view to ensuring that a number of values and objectives of general public interest are
fulfilled in all Member States, such as consumer protection, protection of public health and of the integrity
of works.

The protection of minors is one of the areas coordinated by the Directive, Article 11(5) of which provides
that children’s programmes with a scheduled duration of less than 30 minutes must not be interrupted by
advertisements or teleshopping spots. While these provisions ensure an adequate level of protection at
Community level, stricter provisions may be adopted at national level, such as the rules adopted by the
government of the Flemish Region. However, these rules may not be extended to programmes from
broadcasters under the jurisdiction of another Member State. Accordingly, the government of the Flemish
Region cannot take measures to block the reception or retransmission of the broadcasts in question on the
grounds that they do not comply with the provisions of its law.

(1) Council Directive 89/552/EEC of 3 October 1989 on the coordination of certain provisions laid down by law,
regulation or administrative action in Member States concerning the pursuit of television broadcasting activities,
OJ L 298, 17.10.1989.

(2004/C 70 E/072)

WRITTEN QUESTION P-1962/03

by Georges Berthu (NI) to the Commission

(5 June 2003)

Subject: Future accounting standards in the insurance sector

For several months, banking and insurance professionals have been exposing the dangers of across-the-
board application of the future IAS accounting standards to their professions. While financing practices
involve the pooling of risks, the use of standard IAS 39 may very well produce an untrue picture of the
actual position of firms on the date of closure of accounts because it takes market value as the basis for
valuing assets and liabilities.

My Written Question P-2507/02 (1) drew the Commission’s attention to the risks posed by this method.
In a detailed reply dated 15 October 2002, Commissioner Bolkestein stated that the Commission was
expecting fresh proposals from the IAS Board in this connection and that at all events, in its view, ‘any
apparent reduction in the degree of prudence in the financial statements should not lead to less prudence
in the prudential regulation of relevant entities’.

IAS is reported to have rejected, after all, the proposals submitted to it on amending IAS 39. What action
does the Commission intend to take to avoid what are ever more worrying risks?

(1) OJ C 222 E, 18.9.2003, p. 9.

Answer given by Mr Bolkestein on behalf of the Commission

(2 July 2003)

International Accounting Standard (IAS) 39 is being revised. Bilateral technical meetings are taking place
between the International Accounting Standards Board (IASB) and the European banking industry on how
this standard should be applied to operations relating to rate risk cover. This dialogue is on track.

C 70 E/70

Official Journal of the European Union

EN

20.3.2004

The Commission would like insurance professionals to become involved quickly. It should also be pointed
out that the IASB will present its draft interim standard for insurance for public consultation in July 2003.
The purpose of the standard is to facilitate the transition by insurance companies to IAS on 1 January
2005 by granting them a number of exemptions.

(2004/C 70 E/073)

WRITTEN QUESTION E-1992/03

by José Ribeiro e Castro (UEN) to the Commission

(16 June 2003)

Subject: Europe and terrorism

According to reports in the newspapers Corriere della Sera (Italy) and Diário de Notícias (Portugal), the
Saudi Arabian Ambassador to the United States of America, Prince Bandar, has warned the media that
‘something big’ is being prepared in Saudi Arabia or the United States, expressing fears that a large-scale
terrorist attack is being planned.

The same reports mention a number of European countries (Italy, Belgium, United Kingdom, Netherlands,
Sweden, Norway, Germany and France) where sleeping cells belonging to organisations linked to al-Qa’ida
are reported to be ready to join groups of mujahedin already in North America awaiting the signal to
launch the attack.

The Commission:

(cid:1) Does it have any information on these facts and can it confirm the fears expressed by the Saudi

Ambassador to the US?

(cid:1) Can it confirm the presence or suspected presence of al-Qa’ida cells or associates on the territory of

EU Member States?

(cid:1) What information does it have on Islamic fundamentalist terrorist activity on the territory of EU

Member States?

(cid:1) What information does it have on the activities of al-Qa’ida or its associates in North Africa and the

Middle East?

(cid:1) In what way is the Commission cooperating or is it prepared to cooperate with the countries of North

Africa and the Middle East in the fight against international terrorism?

(cid:1) What measures has it taken or will it take in response to this threat?

Answer given by Mr Vitorino on behalf of the Commission

(31 July 2003)

The Commission follows developments concerning all forms of terrorism closely. It remains concerned
about the serious threats which international terrorism continues to pose to the Union.

Within the Union the fight against terrorism is first of all the responsibility of the Member States, in
particular their security,
intelligence and police services. At general policy level Member States and
Commission co-operate actively in order to improve the Union’s overall effectiveness in the fight against
terrorism in line with Article 29 of the Treaty on European Union.

The Commission is, therefore, not well placed to provide concrete information on the activities of
international terrorist groups on the territory of the Member States. Similarly, the Commission can only
play a small part in assessing the threat from terrorist attacks to European citizen’s safety and to European
interests more generally, whether those threats are internal or external to the Union. This is a task for all