WRITTEN QUESTION P-2864/03 by Maurizio Turco (NI) to the Commission. Data and sources indicating the role currently played by the Vatican's financial system in the payment of interest to natural persons.
Date: 2003-09-22
Institutions: European Parliament, Provisional data
Subjects: Holy See, central bank, financial management, financial market, interest, savings, source of information, tax system

C 78 E/182

Official Journal of the European Union

EN

27.3.2004

(2004/C 78 E/0188)

WRITTEN QUESTION P-2864/03

by Maurizio Turco (NI) to the Commission

(22 September 2003)

Subject: Data and sources indicating the role currently played by the Vatican’s financial system in the

payment of interest to natural persons

The answer to question E-2426/03 (1) given by Mr Bolkestein on behalf of
the Commission on
5 September 2003 states that the Commission can only say that the role currently played by the Vatican’s
financial system in the payment of interest to natural persons does not appear to be jeopardising the
competitiveness of European financial markets.

Can the Commission say what data it has to support this claim and what their source was?

(1) OJ C 65 E, 13.3.2004.

Answer given by Mr Bolkestein on behalf of the Commission

(16 October 2003)

The Commission would refer to the reply to Written Question E-1914/02 put by the Honourable
Member (1). The finding that a commercial financial sector does not currently exist on the territory of the
Vatican City State (the only bank being the IOR (Istituto Opere di Religione), which also is the central
bank) does indeed suggest that management of the assets of EU-resident natural persons is unlikely to be
taking place on a scale comparable with that of the six non-EU countries to which the Council has given
priority in starting discussions on taxation of savings (the United States, Switzerland, Liechtenstein,
Monaco, Andorra, and San Maríno).

financial centres was, moreover,
The priority given to a limited number of particularly significant
inevitable given that
the Council had opted to establish a link between the (early) adoption and
implementation of the Community Directive and receipt of adequate assurances from the third countries
concerned that they would introduce measures equivalent to those of the directive in their territory.
Entering into immediate contacts with a larger number of financial centres would have been likely, under
these conditions, to set back by several years not only the date of application of the Directive on taxation
of savings, but also that of the other components of the tax package (the code of conduct on company
taxation and the Directive on interest and royalties). The Commission hopes that the Honourable Member
can agree that such a delay would be undesirable in the interests of the smooth operation of the internal
market.

The Commission has undertaken to collect
Honourable Member and will inform him directly of the outcome.

the available information on the matter raised by the

(1) OJ C 92 E, 17.4.2003.

(2004/C 78 E/0189)

WRITTEN QUESTION E-2865/03

by Elisabeth Schroedter (Verts/ALE)
and Inger Schörling (Verts/ALE) to the Commission

(26 September 2003)

Subject: Destruction of unique parts of the European natural heritage in Brandenburg, Federal Republic of

Germany

In its answer to Elisabeth Schroedter’s question (E-3577/02 (1)) of 27 January 2003 and in the answer to
complaint 2000/4731, the Commission indicates that the Lacoma wetlands should have been proposed as
a site of Community importance pursuant to Article 4(1) and Annex III of the FFH Directive (92/43/EEC (2)