WRITTEN QUESTION E-3235/03 by Salvador Garriga Polledo (PPE-DE) to the Commission. Incentives to invest in EU-related bonds.
Date: 2003-11-03
Institutions: European Parliament, Provisional data
Subjects: European Investment Bank, investment, investment policy, investment promotion, issue of securities, private investment

C 70 E/242

Official Journal of the European Union

EN

20.3.2004

In view of this it is perhaps time that a standardised approach was taken to European Union studies for
university students, so as to enable each and every student in Europe to gain a similar insight into the
political entity that is the united Europe, the home they share with their fellow European citizens.

Does the Commission believe that the time has now come to formulate a standardised university syllabus
for European Union studies, so that young people entering university in any EU Member State gain a
similar understanding of the European Union?

Answer given by Mrs Reding on behalf of the Commission

(1 December 2003)

The Commission would refer first of all to Article 149 of the EC Treaty, pursuant to which the content of
teaching is the responsibility of the Member States.

it would be difficult

to reconcile the principles of academic freedom and university
Moreover,
independence, key principles of higher education, with the standardisation of the syllabus in various
areas of teaching or research.

However, the Commission would like to assure the Honourable Member of its keen interest in the teaching
of European integration at university. Thus, one of its ongoing projects in the field of education is the ‘Jean
Monnet’ project, which aims to promote, using start-up grants, the development of specific courses in
Community law, European economic integration, European political science and the history of European
integration, all disciplines in which developments in European integration constitute an ever greater
proportion of the syllabus.

(2004/C 70 E/262)

WRITTEN QUESTION E-3235/03

by Salvador Garriga Polledo (PPE-DE) to the Commission

Subject: Incentives to invest in EU-related bonds

(3 November 2003)

The Fifteen have advocated kick-starting growth in the European Union by increasing both public and
private investment in infrastructure, R & D and innovation.

It is a well-known fact that, besides being one of the main driving forces for progress in the EU, the
European Investment Bank (EIB) is responsible for much of the EU’s infrastructure development, which is
why encouraging people to take part in its public bond issues is of particular importance.

Does the Commission believe that, once the relevant studies have been conducted, it should look into the
most appropriate means of encouraging Community citizens to take a greater interest in EIB bonds as their
contribution to the so-called Lisbon strategy, which seeks to make the EU the world’s most dynamic
economy?

Answer given by Mr Solbes Mira on behalf of the Commission

(2 December 2003)

The European Investment Bank (EIB) is among the world’s largest debt issuers, raising EUR 41 billion so far
this year, within the target set for 2003 (EUR 40 to 42 billion). In only five years, annual borrowings by
the Bank have almost doubled.

20.3.2004

EN

Official Journal of the European Union

C 70 E/243

This growing funding need, in line with the Bank’s lending growth, has been conducted according to a
consistent and balanced borrowing strategy. This strategy involves a proactive approach to addressing both
institutional and retail investors, both of which play an important role as buyers of EIB securities.

As concerns the specific involvement of Union citizens in EIB bond issues, it is important to note that EIB
enjoys a strong following in the European retail market. Retail investors buy a very wide variety of EIB
bonds, but certain bond issues respond to the specific requirements of retail investors.

Marketing to retail investors needs to be carefully balanced against marketing to institutional investors,
who remain central to the success of EIB’s bond issuance as well as the subsequent performance of EIB
bonds in the secondary market, in itself a key consideration. Also, the substantial costs of certain types of
retail marketing, for example through advertising, are an important consideration.

In conclusion, EIB’s approach to retail
investors in the Union is already well developed and suitably
supportive of its objectives as a ‘policy driven public bank’. However, this needs to be seen in the context
of the leading role played by institutional investors in the debt capital markets in Europe. Nonetheless, EIB
continues to explore opportunities for further sustainable development of this strategy, taking account of
fast evolving market conditions.

(2004/C 70 E/263)

WRITTEN QUESTION E-3241/03

by Cristiana Muscardini (UEN) to the Commission

(3 November 2003)

Subject: Breaking down of bureaucratic barriers

Following bureaucratic wrangling that lasted a good five years and after appealing to the European
Ombudsman, an Italian citizen obtained recognition in Spain that her Italian degree in Foreign languages
and literature was equivalent to the corresponding Spanish qualification in Hispanic Philology. When in
September 2001 the Basque Government’s education department in Bilbao was drawing up a list of
temporary Italian language teachers for its School of Languages (Escuela de Idiomas), this Italian citizen
was not allowed to compete on the same terms as Spanish graduates in Romance Philology with a
specialisation in Italian, despite having submitted her higher education certificate from the Escuela de
Idiomas for Italian. Her years of service were counted as being those of a permanent member of the
teaching staff in the Italian state education system from 1980 to 1989, and as a teacher of Italian language
and culture to foreigners from 1990 onwards. To secure the same rights as her Spanish counterparts she
was obliged to complete a second degree in Italian Philology at the University of Salamanca. In the
meantime, she was removed from the above-mentioned list because she had not ‘supplied any service’ to
the education department in question during the course of the 2001-2002 academic year, despite being
hired at that time as a temporary lecturer in Italian language and literature at the University of the Basque
Country, which comes under the authority of the selfsame Department of Education, Universities and
Research for the Basque Country. In order to gain readmission to that department’s list of temporary
teachers she was asked to present a certificate in Basque, which she obtained this year. This Italian linguist
is currently confronted with fresh difficulties in gaining admission to the list of temporary teachers for the
School of Languages in Navarre, where she is not being accredited with her years of service in the state
education sector in Italy (since the translation provided by the consulate is not considered a ‘sworn’
translation). Furthermore, the degree recognised as being equivalent in Spain is not being accredited to her
as a second degree, since it is being deemed a prerequisite for demonstrating her knowledge of Spanish,
despite the fact that she has also obtained a degree from a host country university.

Does the Commission not consider the experiences of this EU citizen to be a clear sign of covert

1.
discrimination?

2. What scope does the Commission have for overcoming these loathsome obstacles, which are a
reflection not only of bureaucratic lunacy but also of a lack of will on the part of the host country
government to eliminate this form of discrimination?