WRITTEN QUESTION E-0756/04 by José García-Margallo y Marfil (PPE-DE) to the Commission. Repercussions of European financial market integration at national and regional level.
Date: 2004-03-11
Institutions: European Parliament, Provisional data
Subjects: competition policy, economic consequence, financial market, impact study, stock-exchange transaction

C 88 E/710

Official Journal of the European Union

EN

8.4.2004

The Court referred to the findings of the Constitutional Court in another case (Case 114/96), which
ordered the authorities to complete an administrative procedure under the decree (claiming that the person
concerned had not been deprived of citizenship) that had been started after the war, and was never closed
under the Communist regime. This is possible because the procedure for determining whether a person
held citizenship at a given moment in time is governed by the rules applicable at the time that person
acquired or lost citizenship. That does not at all mean that the same rules are applicable today and can be
applied to withdraw citizenship. On the contrary: it is only for the benefit of the victims of the decrees
that such an historical examination can be conducted and, if the conclusion is that the decree in question
was not applied at
the time in accordance with the provisions of that same decree, an historical
administrative act can be declared null and void. Thus, citizenship can be retroactively confirmed, and
hence property given back, but citizenship cannot be withdrawn by a new legal act based on the Decree.
Indeed, the Court considered that although Decree No 33/1945 was repealed in 1949, its provisions ruling
retention of citizenship, i.e. those favouring citizens, were still applicable and could be invoked by victims
of misapplication of the Presidential Decrees.

On the basis of a preliminary examination, the Commission considers that the decision in question would
not appear to be in contradiction with the ‘acquis’, nor with the principles of the rule of law because
serious fact-finding seems to have taken place.

(2004/C 88 E/0731)

WRITTEN QUESTION E-0756/04

by José García-Margallo y Marfil (PPE-DE) to the Commission

(11 March 2004)

Subject: Repercussions of European financial market integration at national and regional level

Has the Commission carried out studies to assess the repercussions on national and regional financial
markets of the structural changes introduced by new European legislation on financial services and, in
particular, the possible weakening of regional financial markets vis-à-vis their national counterparts?

Is there not a risk that financial transactions will ultimately be concentrated in a limited number, i.e. three
or four, markets in Europe?

Answer given by Mr Bolkestein on behalf of the Commission

(23 April 2004)

Even though the Commission has not systematically launched studies to provide an answer to the precise
question of the repercussions on the national and regional financial markets of the changes introduced by
new legislation on financial services, studies have accompanied certain legislative proposals (e.g. studies on
supplementary pensions, which are publicly available on the web site of Directorate-General (DG) Internal
Market;
impact assessments of the forthcoming Reinsurance Directive and Capital Adequacy Directive
(CAD3), which will become public at the time of the Commission proposal, etc.) or assessed the situation
of a specific market segment on a pan-EU basis (e.g. study ‘Creating an internal market for the Banking
industry: an estimate on the structural changes induced by the deregulation and the single currency’).

In addition to these specific studies and impact assessments carried out, it is a general policy in proposing
legislation in financial services to organise wide-ranging consultations with stakeholders before these
legislative proposals are finalised. This procedure can help to determine whether or not a specific
legislative measure might impact negatively on one particular regional or national market segment.
Furthermore, it is the intention of the Commission to devote more importance to the impact assessment of
legislative proposals on specific markets segments and/or regions in the future.

8.4.2004

EN

Official Journal of the European Union

C 88 E/711

A study, commissioned by DG Economic and Financial Affairs (1), concludes that the benefits of further
integrating EU financial markets would be shared, even though not equally distributed, by the Member
States. Whereas in some Member States the industrial sectors would stand to gain more from access to
non-domestic financial markets, the financial sector would gain in relative terms in other Member States
following an increased demand.

In spring 2004, the Commission will produce a first annual report on the state of integration of the EU
financial system. From this report, it is clear that, as integration proceeds, natural regional clusters (also
cross-border) emerge, whereas other markets may be reduced in importance. The occurrence of a higher
market concentration in the advance towards integration cannot a priori be excluded but eventually,
regional and national markets are expected to reorganise to reap the benefits from increasingly integrated
and liquid markets.

(1)

‘Financial Market Integration, Corporate Financing and Economic Growth’ by Mariassunta Giannetti, Luigi Guiso,
Tullio Jappelli, Mario Padula and Marco Pagano (2002).

(2004/C 88 E/0732)

WRITTEN QUESTION E-0811/04

by Enrique Monsonís Domingo (ELDR)
and Joan Vallvé (ELDR) to the Commission

(15 March 2004)

Subject: Pests affecting citrus fruit

The European Union’s borders are exposed to the entry of citrus products from third countries, owing to
lax inspections and a shortage of inspectors specialising in citrus pests.

In summer last year (2003) quarantine pests originating in citrus fruit from Brazil and Argentina were
detected in Spain only. During the last citrus marketing year around 190 000 tonnes of citrus fruit were
imported from third countries, including 59 000 tonnes from Argentina and 25 000 tonnes from Brazil.
During inspections three kinds of quarantine diseases which do not occur in European-produced citrus
fruit were detected: Xanthomonas axonopodis pv. Citri, which causes citrus canker, Guignardia citricarpa,
which causes citrus ‘black spot’ on the skin of citrus fruit and, finally, the Elsinoe fungus.

A total of 993 tonnes of citrus fruits from Argentina and 2 226 tonnes from Brazil were refused entry. The
inspections resulted in 83 consignments from these countries being rejected in Spain. Finally, the Spanish
Ministry for Agriculture, Fisheries and Food banned citrus imports from both these countries by means of
Order APA/315/2003 of 12 November. A petition has been submitted to the European Committee on
Plant Health calling for this ban to be extended to the rest of the European Union. Apparently the
Committee will take a decision on 22 or 23 March.

Can the Commission say whether there are plans to suspend citrus imports from Argentina and Brazil in
the European Union in time for the forthcoming citrus harvest in the Southern hemisphere? Or, if they are
not banned, will a specific import protocol be introduced? If such a protocol is introduced, will checks be
carried out at origin in the presence of European inspectors and will a tracing system be set up? What
measures are envisaged to prevent the entry of quarantine pests and diseases of citrus fruit into the
European Union? Do they make provision for specific European entry points for fruit and vegetables from
third countries where inspectors specialising in these pests/diseases will operate?

Answer given by Mr Byrne on behalf of the Commission

(23 April 2004)

The Commission would like to inform the Honourable Member that it has no intention at the moment of
suspending citrus fruit imports into the EU from Argentina and Brazil for the next marketing year.