WRITTEN QUESTION No. 3607/97 by José GARCÍA-MARGALLO Y MARFIL to the Commission. Commission communication on the impact of the introduction of the euro on capital markets (COM(97)0337)
C 187/26 EN Official Journal of the European Communities 16. 6. 98 Can the Commission rule out the possibility of 1. any changes being made to the planned schedule or 2. preparations for enlargement to the East leading to changes in the financial planning? Answer given by Mr Kinnock on behalf of the Commission (16 January 1998) The Mu¤nchen-Verona rail project (Brenner axis) forms part of the High-Speed rail / combined transport project Berlin › Nu¤rnberg / Mu¤nchen › Verona which is included in the list of the 14 transport projects to which the 1994 Essen European Council attached particular importance. No change or shift has been made in these priorities and as far as the Commission is aware, there is no reason to expect that preparations for enlargement should affect either the timing or financing plan for this project. From the outset, the Member States involved in this project agreed to upgrade the Brenner axis in such a way that sufficient capacity will be available to meet demand at all times. For the Austrian Inn Valley section, the technical studies for the upgrading of the line to four tracks are progressing well and preliminary work on sub-sections will start in 1998. For the planned Brenner base tunnel, the States involved have already carried out comprehensive technical and economic feasibility studies which have significantly contributed to the decision making process. In December 1997 the Commission, together with the Transport Ministers involved, approved a series of measures related to the forthcoming launch of the next phase of project preparation. The financing of all TENs projects is the responsibility of the Member States involved and, in any event, the Community contribution cannot legally exceed 10% of the costs of any project. To date, all feasibility and technical studies on the project referred to by the Honourable Member have been carried out according to plan, both in terms of time and content. This is also expected for the further technical studies and works on the Austrian Inn Valley section. The European Community has granted financial assistance from the trans-European transport network budget for feasibility and technical studies undertaken to date and the Commission also contributes to co-ordinating the co-operation of the Member States concerned in the gradual preparation and implementation of the Brenner project. In addition, in this context, it supports investigations into the possibility of a public-private financing and development partnership for the implementation of the Brenner base tunnel. (98/C 187/40) WRITTEN QUESTION E-3607/97 by Jose· Garc ·a-Margallo y Marfil (PPE) to the Commission (13 November 1997) Subject: Commission communication on the impact of the introduction of the euro on capital markets (COM(97) 0337) On the subject of fixed capital markets, one of the possibilities suggested in this document for redenomination of existing debt would be to work on the basis of a fixed minimum denomination with cash compensatory payments (the átop-downí method). Does the Commission intend to draw up a more detailed working document on this method?