27.2.2001 Official Journal of the European Communities L 57/5 (Acts whose publication is obligatory) COUNCIL REGULATION (EC) No 381/2001 of 26 February 2001 creating a rapid-reaction mechanism THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty establishing the European Community, and in particular Article 308 thereof, Having regard to the proposal from the Commission ('), Having regard to the opinion of the European Parliament (%), Whereas: (1)  Community policies in several of the world's regions cover development aid, macrofinancial aid, aid for economic, regional and technical cooperation, aid for reconstruction, aid for refugees and displaced persons and aid for operations to support the consolidation of democracy and the rule of law, respect for human rights and fundamental freedoms. (2)  The aims of aid and cooperation programmes and/or the conditions for their proper execution may be jeopar- dised or directly affected by, inter alia, the emergence of situations of crisis or conflict, by impending or ongoing threats to law and order, to the security and safety of individuals. (3)  In the report which it adopted on developing the Euro- pean Union's non-military crisis-management capability, the European Council meeting in Helsinki on 10 and 11 December 1999 stressed in particular that rapid financing mechanisms such as the creation by the Commission of a Rapid Reaction Fund should be set up to allow the acceleration of the provision of finance to support EU activities, to contribute to operations run by other international organisations and to fund non- governmental organisation (NGO) activities, as appro- priate. (4)  Accordingly, it is important that provision be made for a mechanism that will underpin existing Community poli- cies and programmes and enable the Community to take urgent action to help re-establish or safeguard normal conditions for the execution of the policies undertaken, in order to preserve their effectiveness. () O] C 311 E, 31.10.2000, p. 213. (}) Opinion delivered on 17 January 2001 (not yet published in the Official Journal). (5)  Such a mechanism must in particular, in accordance with accelerated decision-making procedures, facilitate the mobilisation and rapid deployment of specific finan- cial resources. (6)  The Council and the Commission are responsible for ensuring the coherence of the external activities conducted by the European Union in the context of its external relations, security, economic, social and devel- opment policies. In the abovementioned report, the European Council also emphasised that in order to be able to respond more rapidly and more effectively to emerging crisis situations, the Union needs to strengthen the responsiveness and efficiency of its resources and tools, as well as their synergy. (7)  Activities covered by Council Regulation (EC) No 1257/ 96 of 20 June 1996 concerning humanitarian aid (%), (ECHO Regulation’) should not be funded under this Regulation. (8)  There is a need for maximum transparency in all matters concerning the implementation of the Community's financial assistance as well as proper control of the use of appropriations. (9 The protection of the Community's financial interests and the fight against fraud and irregularities are taken account of in this Regulation. (10)  The Treaty does not provide, for the adoption of this Regulation, powers other than those of Article 308, HAS ADOPTED THIS REGULATION: Article 1 A mechanism is created, hereinafter referred to as ‘the Rapid Reaction Mechanism’, designed to allow the Community to respond in a rapid, efficient and flexible manner, to situations of urgency or crisis or to the emergence of crisis, under the conditions defined by this Regulation. () O] L 163, 2.7.1996, p. 1.