Council Regulation (EC) No 852/95 of 10 April 1995 on the grant of financial assistance to Portugal for a specific programme for the modernization of the Portuguese textile and clothing industry

COUNCIL REGULATION (EC) No 852/95 of 10 April 1995 on the grant of  financial assistance to Portugal for a specific programme for the modernization of the Portuguese  textile and clothing industry
THE COUNCIL OF THE EUROPEAN UNION
,
Having regard to the Treaty establishing the European Community, and in particular the last  paragraph of Article 130b thereof,
Having regard to the proposal from the Commission  (1),
Having regard to the opinion of the European Parliament  (2),
Having regard to the opinion of the Economic and Social Committee  (3),
Having regard to the opinion of the Committee of the Regions  (4),
Whereas Community action to achieve economic and social cohesion must be taken in compliance with  the rules of free competition; whereas this programme is an exceptional measure and Community  assistance must accordingly be limited to the necessary measures to enable the Portuguese textile  industry to adapt to the new requirements of the international situation;
Whereas the Portuguese textile and clothing industry, which accounts for a third of the jobs in  Portuguese industry and a third of the country's industrial exports. is highly vulnerable in the  face of the increase in international competition resulting from the GATT agreements; whereas the  implications thereof in this sector, which is of importance to the economic fabric of some  Portuguese regions, might jeopardize the economic and social cohesion of the Community;
Whereas on 15 December 1993 the Council approved the Commission's intention to allocate ECU 400  million to the modernization of the Portuguese textile and clothing industry;
Whereas provision should be made for the possibility of interest subsidies for loans granted by the  European Investment Bank or other financial bodies with a view to achieving the objectives of the  specific programme;
Whereas the Commission has published in the Official Journal of the European Communities Notice  94/C 180/04 to the Member States laying down guidelines for the initiative concerning the  modernization of the Portuguese textile and clothing industry  (5);
Whereas the budgetary authority has agreed to enter the financing for this programme in one of the  chapters of the budget covered by Section 3 of the Financial Perspective annexed to the  Interinstitutional Agreement of 29 October 1993 on budgetary discipline and improvement of the  budgetary procedure  (6);
Whereas a financial reference amount, within the meaning of point 2 of the Declaration of the  European Parliament, the Council and the Commission of 6 March 1995 is inserted in this Regulation  for the whole duration of the programme without affecting the powers of the budget authority  defined in the Treaty;
Whereas the provisions governing the use of these resources should be determined;
Whereas, in order to simplify the administration of these resources, which should be entrusted to  the Commission, and to ensure consistency with the Community's other structural measures, the  Commission should apply by analogy the appropriate provisions governing the Structural Funds, in  particular Regulations (EEC) No 2052/88  (7), (EEC) No 4253/88  (8), (EEC) No 4254/88  (9), (EEC)  No 4255/88  (10), and (EEC) No 1866/90  (11),