WRITTEN QUESTION E-2418/99 by Salvador Garriga Polledo (PPE-DE) to the Commission. EU support for the launch of the Latin American Stock Exchange.
C 303 E/58 Official Journal of the European Communities EN 24. 10. 2000 (2000/C 303 E/051) WRITTEN QUESTION E-2418/99 by Salvador Garriga Polledo (PPE-DE) to the Commission (16 December 1999) Subject: EU support for the launch of the Latin American Stock Exchange Sponsored by the leading financial players in Spain and Latin America, the recent launch in euros of the Latin American Stock Exchange provides the legal and administrative wherewithal for diversifying numerous European portfolios, a particularly desirable development in view of the fact that the economic cycle of Latin American countries is unrelated to that of Europe, and indeed, varies greatly from country to country within Latin America itself. Given the Latin American Stock Exchangeís importance for EU-Latin American financial relations, what is the Commissionís position with regard to this initiative and to what extent is it prepared to help consolidate and expand it? Answer given by Mr Solbes Mira on behalf of the Commission (3 February 2000) The Commission welcomes the launch of the Latin American stock exchange as this initiative may provide additional sources of capital investments, contribute to portfolio diversification by offering new areas of investment to European investors, and contribute to the visibility of the euro on the international financial markets. to Latin America through external The Commission follows with interest developments of this sort. However, as a commercial operation of the private sector it is not for the Commission to support or to be directly involved in the expansion of this initiative. (2000/C 303 E/052) WRITTEN QUESTION E-2419/99 by Salvador Garriga Polledo (PPE-DE) to the Commission (16 December 1999) Subject: Winning the technical innovation battle The need to win the technical innovation battle in all sectors of European industry is a challenge no less crucial to the future of the Union than those of monetary union and the common security policy. The first hurdle is to convince all those concerned, including the general public, that the Union as a whole will suffer a grave defeat if Europe fails to win a leading position in technological innovation. How does the Commission intend to alert public opinion to the crucial need to win the technological innovation battle?