CELEX: 51980PC0863
Language: en
Date: 1980-12-12
Title: PROPOSAL FOR A COUNCIL DECISION CONCERNING COMMUNITY AID GRANTED BY WAY OF EXCEPTION IN RESPECT OF THE RECONSTRUCTION OF THE REGIONS AFFECTED BY THE ITALIAN EARTHQUAKE IN NOVEMBER 1980 (presented by the Commission to the Council)

ARCHIVES HISTORIQUES
DE LA COMMISSION
COLLECTION RELIEE DES
DOCUMENTS "COM"
COM (80) 863
Vol. 1980/0273
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 ---pagebreak---      COMMISSION OF THE EUROPEAN COMMUNITIES
This document cancels ana replaces                                   COM(80 ) 863 final / 2
document C0M(80 ) 863 final of
5th December 1980 ( Proposal )                                       Brussels . 12th December 1980
                              PROPOSAL FOR A COUNCIL DECISION
                   CONCERNING COMMUNITY AID GRANTED BY WAY OF EXCEPTION
               IN RESPECT OF THE RECONSTRUCTION OF THE REGIONS AFFECTED BY
                          THE ITALIAN EARTHQUAKE IN NOVEMBER 1980
                     ( presented by the Commission to the Council )
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     COM ( 80 ) 863 final / 2
 ---pagebreak---                       Proposai foi* a
                 COUNCIL DECISION No .
concerning Community aid granted "by way of exception in respect of
the reconstruction of the regions affected "by the Italian earthquake
in November 1980 .
THE COUNCIL OP THE EUROPEAN COMMUNITIES ,
Having regard to the Treaty establishing the European Economic
Community , and in particular Article 235 thereof ;
Having regard to the proposal from the Commission^ ^ ;
                                                         ( 2)
Having regard to the opinion of the European Parliament       ; . -
Whereas the regions of Campania and Basilicata were devastated "by
an earthquake in November 1980 and it is important to mitigate the
effects of this disaster on the economic and social situation there ;
Whereas the European Council at its session of' 1 and 2 December I98O
invited the Community institutions to contribute to the reconstruc­
tion programme of the devastated areas in particular by means of
subsidised loans ;
Whereas this is a completely exceptional situation requiring rapid
and effective remedies ;
Whereas Council Decision No . 78/870 /EEC of 16 October 1978 provides
a means of realizing this objective(3) «
Whereas it is appropriate to provide for interest subsidies , chargeable
to the Communities * general budget on loans granted for this purpose
under the provisions of the new Community instrument ( 3) or on the
European Investment Bank 's own resources ;
Whereas the European Investment Bank has declared its willingness to
 cooperate in the implementation of the present Decision;
Whereas the Treaty makes no provision for the powers of action re­
 quired for this purpose ,
HAS DECIDED AS FOLLOWS 1
 ( 1)
  ( 2)
  ( 3)
 ---pagebreak---                                                                  - 2 -
Art i cl g 1
The following paragraphs are . hereby added to Artiole 1 of Decision
78/870/EEC :
     "'The Commission shall be empowered to contract , by way of sole
      exception , on behalf of the European Economic Community , loans
      for the purpose of financing investments for the reconstruction
      of the» means of production and economio and social infrastruo-
      tures in the regions affeoted by the Italian earthquake in
     November I98O .
      The amount of the principal of such loans may not exceed the
      equivalent of 1000 million ECU subject to deduction in respect
      of any operations of the same nature carried out by the E.I.B.
      out of its own resources ."
Article 2
Interest subsidies on a principal not exceeding the equivalent of
1000 million ECU , chargeable to the general budget of the European
Communities , may be granted on loans made either by the European
Investment Bank out of its own resources or under the new Community
instrument , as provided for in Artiole 1 of this Decision , in favour
of investments carried out in the regions affected by the Italian
earthquake of November 1980 .
Article 3
The Commission shall , on the basis of projects submitted by the
Italian authorities , grant the interest subsidies each year .
The subsidy rate is hereby fixed at yfo per annum for a maximum
period of 12 years .
Article 4
When the borrowings are expressed , payable or repayable in the
currency of a Member State , they may be concluded only with the
agreement of the competent authorities of that State .
Article 5
The financial control and audit of the Commission 's accounts shall
be carried out in accordance with the Financial Regulation applicable
to the general budget of the European Communities . .
Article 0
Implementing rules in respect of this Deoision shall be adopted by
the Commission .
Article 7
The Commission shall annually inform the Council and the European
Parliament of transactions carried out under this Deoision .
Article 8
This Decision shall apply with effect from 1 January 1981 .
Done at Brussels , ..... e .