title: Council Recommendation of 14 July 2015 on the 2015 National Reform Programme of Croatia and delivering a Council opinion on the 2015 Convergence Programme of Croatia

text:
               18.8.2015

               EN

               Official Journal of the European Union

               C 272/56

         COUNCIL RECOMMENDATION
   of 14 July 2015
   on the 2015 National Reform Programme of Croatia and delivering a Council opinion on the 2015 Convergence Programme of Croatia
   (2015/C 272/15)
   THE COUNCIL OF THE EUROPEAN UNION,
   Having regard to the Treaty on the Functioning of the European Union, and in particular Articles 121(2) and 148(4) thereof,
   Having regard to Council Regulation (EC) No 1466/97 of 7 July 1997 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies (1), and in particular Article 9(2) thereof,
   Having regard to Regulation (EU) No 1176/2011 of the European Parliament and of the Council of 16 November 2011 on the prevention and correction of macroeconomic imbalances (2), and in particular Article 6(1) thereof,
   Having regard to the recommendation of the European Commission,
   Having regard to the resolutions of the European Parliament,
   Having regard to the conclusions of the European Council,
   Having regard to the opinion of the Employment Committee,
   Having regard to the opinion of the Economic and Financial Committee,
   Having regard to the opinion of the Social Protection Committee,
   Having regard to the opinion of the Economic Policy Committee,
   Whereas:

               (1)

               On 26 March 2010, the European Council agreed to the Commission's proposal to launch a new strategy for growth and jobs, Europe 2020, based on enhanced coordination of economic policies. The strategy focuses on the key areas where action is needed to boost Europe's potential for sustainable growth and competitiveness.

               (2)

               On 14 July 2015, the Council, on the basis of the Commission’s proposals, adopted a Recommendation on the broad guidelines for the economic policies of the Member States and the Union and, on 21 October 2010, it adopted a decision on guidelines for the employment policies of the Member States (3). Together these form the ‘integrated guidelines’ which Member States were invited to take into account in their national economic and employment policies.

               (3)

               On 8 July 2014, the Council adopted a Recommendation (4) on Croatia's National Reform Programme for 2014 and delivered its opinion on Croatia's updated Convergence Programme for 2014.

               (4)

               On 28 November 2014, the Commission adopted the Annual Growth Survey, marking the start of the 2015 European Semester for economic policy coordination. On the same day, on the basis of Regulation (EU) No 1176/2011, the Commission adopted the Alert Mechanism Report, in which Croatia was identified as one of the Member States for which an in-depth review would be carried out.

               (5)

               On 18 December 2014, the European Council endorsed the priorities for fostering investment, intensifying structural reforms and pursuing responsible growth-friendly fiscal consolidation.

               (6)

               On 26 February 2015, the Commission published its 2015 country report for Croatia. This assessed Croatia's progress in addressing the country-specific recommendations adopted on 8 July 2014. The country report also includes the results of the in-depth review under Article 5 of Regulation (EU) No 1176/2011. The Commission's analysis leads it to conclude that Croatia is experiencing excessive macroeconomic imbalances which require decisive policy action and specific monitoring. In particular, in a context of subdued growth, delayed restructuring of firms and dismal employment performance, the risks associated with weak competitiveness, large external liabilities and rising public debt coupled with weak public sector governance have increased significantly.

               (7)

               In March 2015, following the publication of the country report, the Croatian authorities engaged in a dialogue with the Commission services on reforms most needed to address the excessive macroeconomic imbalances. The authorities approached the dialogue constructively and announced a number of relevant measures, including reducing parafiscal charges in 2016 and 2017, rationalising the system of state agencies and regional units of the central state administration, incentivising voluntary mergers of local self-government units, reducing legislative uncertainty and strengthening the State Audit Office. Reform plans in several other areas such as reducing administrative burdens on enterprises and improving the governance of state-owned enterprises were spelled out in greater detail. However, the level of ambition remains below expectations in a number of areas, in particular as regards tightening early retirement rules and publishing and implementing the findings of the expenditure review, although some additional measures were presented to partly compensate for the shortfall.

               (8)

               Croatia is currently in the corrective arm of the Stability and Growth Pact. In its 2015 Convergence Programme, the Government plans to correct the excessive deficit by 2017, which is not in line with the 2016 deadline recommended by the Council. The Government plans to gradually reduce the headline deficit to 5,0 % of GDP in 2015, 3,9 % in 2016 and further to 2,7 % of GDP in 2017. According to the Convergence Programme, the government debt-to-GDP ratio is expected to peak at 92,5 % in 2017 and to broadly stabilise at 92,4 % of GDP in 2018. The macroeconomic scenario underpinning these budgetary projections seems somewhat favourable, as growth is comparable while the underlying consolidation effort is higher in the Convergence Programme than in the Commission forecast. Measures to support the planned deficit targets from 2015 onwards are only partially specified. Based on the Commission's 2015 spring forecast, a timely and durable correction of the excessive deficit by 2016 is not expected. Based on the amount of discretionary measures taken, the fiscal effort in 2014 was in line with the Council Recommendation. This is also the case in cumulative terms over 2014 and 2015, in spite of the projected shortfall in 2015. However, the (adjusted) change in the structural balance over 2014-2015 is below the recommended value. In 2016, the fiscal effort is below that set out in the Council Recommendation. Therefore, further structural measures will be needed. Based on its assessment of the Convergence Programme and taking into account the Commission's 2015 spring forecast, the Council is of the opinion that there is a risk that Croatia will not comply with the provisions of the Stability and Growth Pact.

               (9)

               On 23 April 2015, Croatia submitted its 2015 National Reform Programme and, on 30 April 2015, its 2015 Convergence Programme. In order to take account of their interlinkages, the two programmes have been assessed at the same time.

               (10)

               Croatia is currently reviewing its expenditure with a view to achieving efficiencies, in particular in wage, social security and subsidy outlays, and providing sufficient fiscal space to prioritise growth-enhancing expenditure and investment. Croatia's revenues from recurrent taxes on real estate as a proportion of GDP are among the lowest in the Union. Steps have been taken over the last year to improve tax compliance, including measures to address VAT fraud, and action is now needed. Croatia's fiscal framework has been bolstered by recent reforms, but significant challenges remain. Weaknesses in relation to effective expenditure control and the consistent application of budgetary constraints negatively impact fiscal policy-making and audit findings. The rapidly rising public debt calls for a much more active approach to public debt management.

               (11)

               The pension system suffers from a large number of early retirees, an excessively generous system of early pensions for certain professions, and numerous special pension schemes. Early exits are facilitated by comparatively low pension reductions, or none at all for certain workers. The gap between the minimum early and statutory retirement ages is also high compared with an EU average of less than three years. Moreover, the system is highly fragmented, which squeezes out spending on standard pensions. As a result, the benefit ratio in the pension system is lower than in most Member States, despite comparable expenditure. As regards the healthcare sector, recurrent arrears continue to pose fiscal risks. Measures have been initiated to rationalise hospital funding, but there are implementation risks. The 10 % budget increase covers funding needs only partially; further efficiency savings will have to be made to ensure the full elimination of arrears by 2017.

               (12)

               Limited wage adjustment in the post-crisis period exacerbated the negative impact on employment. The comprehensive analysis of wage-determination and wage-setting practices completed in 2014 revealed that the system was not flexible to adapt to changes in the macroeconomic environment. Particular weaknesses relate to large disparities between the private and public sectors, including state-owned enterprises, the extension of collective agreements to non-signatory parties and the difficulties related to the termination of obsolete agreements. The analysis needs to be followed up by concrete policy action. It is also important to monitor the effects of the 2013-2014 labour market reform.

               (13)

               The labour force is negatively affected by a rapidly ageing population coupled with low activity rates, in particular for young people and workers over the age of 50. Despite the increased scope and expenditure of active labour market policies, their outreach remains insufficient as regards the long-term unemployed, older workers and young people not in education, employment or training. The tertiary education rate is one of the lowest in the Union. Skills mismatches and weaknesses in the education and training system act as deterrents for higher education attainment. The size of the informal economy remains a persistent challenge and results in a high incidence of undeclared work. The measures that the commission to combat undeclared work identified at the end of 2014 now need to be implemented. There are currently over 80 different social benefits and programmes. The consolidation of benefits has started, but further reform efforts are needed in 2015 to improve the coverage and adequacy of benefits.

               (14)

               The distribution of competences between national and local level is complex and fragmented, which undermines the management of public finances and efficient public expenditure. The current attribution of policy functions and administrative weaknesses in the local authorities directly affect a number of areas, such as tax collection, the provision of social benefits, the management of European Structural and Investment Funds, public procurement and the provision of public services. As a short-term measure, the authorities plan to establish mechanisms that would encourage voluntary mergers or coordination of self-government units. In the central government, the reform and rationalisation of the system of state agencies has been brought forward on the basis of the analysis completed in 2014.

               (15)

               Croatia's business environment suffers from major institutional shortcomings, including regulatory instability, weak legislative quality control, high compliance costs, discriminatory practices and excessive barriers for service providers, high administrative burdens, a plethora of parafiscal charges, low transparency and predictability in the working of administrative bodies, in particular at local level, unevenly developed electronic communication channels, and lengthy judicial proceedings, in particular in commercial courts, where an upgrade of case management is needed. The new anti-corruption strategy lacks focus and a sufficient level of detail; this should be addressed in an action plan to implement the strategy.

               (16)

               The supervision of public enterprises is incomplete as regards companies established at local level and subsidiaries of major public enterprises. The authorities plan to reduce the number of ‘strategic’ companies and to step up the privatisation agenda. Further progress on the quality of governance is needed, including as regards strengthening and harmonising surveillance across various state-owned enterprises. The nomination of board members lacks transparency and competency requirements are relatively weak, which hampers a sound management of public property.

               (17)

               Putting in place an efficient and transparent early-rescue and insolvency framework is a key prerequisite for alleviating the considerable deleveraging pressure faced by Croatian businesses and fostering a culture of early restructuring and ‘second chance’. An assessment of the pre-insolvency legislation shows that the ex ante efficiency of the current legislative framework is among the lowest in the Union. A reform of the insolvency framework has been initiated, with parliamentary adoption planned in the first half of 2015. The Croatian Bank for Reconstruction and Development could play a crucial role in Croatia's recovery. It is directly exposed to credit risk, which might affect public finances. It is important that it be placed under prudential supervision and strong corporate governance. There is also scope to improve the structure and transparency of its management accountability arrangements. Following the emergence of currency and currency-induced credit risk, a long-term solution is needed that is proportional and equitable and has a solid legal basis and a focus on helping the most distressed borrowers.

               (18)

               In the context of the European Semester, the Commission has carried out a comprehensive analysis of Croatia's economic policy and published it in the 2015 country report. It has also assessed the Convergence Programme and the National Reform Programme and the follow-up given to the recommendations addressed to Croatia in previous years. It has taken into account not only their relevance for sustainable fiscal and socioeconomic policy in Croatia but also their compliance with EU rules and guidance, given the need to strengthen the overall economic governance of the Union by providing EU-level input into future national decisions. The recommendations under the European Semester are reflected in recommendations (1) to (6) below.

               (19)

               In the light of this assessment, the Council has examined the Convergence programme, and its opinion (5) is reflected in particular in recommendation (1) below.

               (20)

               In the light of the Commission's in-depth review and this assessment, the Council has examined the National Reform Programme and the Convergence Programme. Its recommendations under Article 6 of Regulation (EU) No 1176/2011 are reflected in recommendations (1) to (6) below,

         HEREBY RECOMMENDS that Croatia take action in 2015 and 2016 to:

               1.

               Ensure a durable correction of the excessive deficit by 2016 by taking the necessary measures in 2015 and reinforcing the budgetary strategy for 2016. Publish and implement the findings of the expenditure review. Improve control over expenditure at central and local level, in particular by establishing a sanctioning mechanism for entities breaching budgetary limits. Adopt the Fiscal Responsibility Act and strengthen the capacity and role of the State Audit Office. Introduce a recurrent property tax and improve VAT compliance. Reinforce public debt management, in particular by publishing on an annual basis a debt management strategy and ensuring adequate resourcing.

               2.

               Discourage early retirement by raising penalties for early exits. Improve the adequacy and efficiency of pension spending by tightening the definition of arduous and hazardous professions. Tackle the fiscal risks in healthcare.

               3.

               Tackle the weaknesses in the wage-setting framework, in consultation with the social partners and in accordance with national practices, to foster the alignment of wages with productivity and macroeconomic conditions. Strengthen incentives for the unemployed and inactive to take up paid employment. Based on the 2014 review, carry out the reform of the social protection system and further consolidate social benefits by improving targeting and eliminating overlaps.

               4.

               Reduce the extent of fragmentation and overlap between levels of central and local government by putting forward a new model for functional distribution of competencies and by rationalising the system of state agencies. Increase transparency and accountability in the public corporate sector, in particular as regards managerial appointments and competency requirements. Advance the listing of minority packages of shares of public companies and privatisations.

               5.

               Significantly reduce parafiscal charges and remove excessive barriers for service providers. Identify and implement steps to improve the efficiency and quality of the justice system, in particular commercial courts.

               6.

               Reinforce the pre-insolvency and insolvency frameworks for businesses in order to facilitate debt restructuring and put in place a personal insolvency procedure. Strengthen the capacity of the financial sector to support the recovery in view of challenges from high non-performing corporate loans and foreign currency mortgage loans, and weak governance practices in some institutions.

      Done at Brussels, 14 July 2015.

            For the Council

            The President

         P. GRAMEGNA

      (1)  OJ L 209, 2.8.1997, p. 1.

      (2)  OJ L 306, 23.11.2011, p. 25.

      (3)  Maintained by Council Decision 2014/322/EU of 6 May 2014 on guidelines for the employment policies of the Member States for 2014 (OJ L 165, 4.6.2014, p. 49).

      (4)  Council Recommendation of 8 July 2014 on the National Reform Programme 2014 of Croatia and delivering a Council opinion on the Convergence Programme of Croatia, 2014 (OJ C 247, 29.7.2014, p. 50).

      (5)  Under Article 9(2) of Regulation (EC) No 1466/97.


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32004H0296

Council Recommendation of 30 March 2004 on the appointment of a member of the Executive Board of the European Central Bank

Official Journal L 097 , 01/04/2004 P. 0065 - 0065

Council Recommendationof 30 March 2004on the appointment of a member of the Executive Board of the European Central Bank(2004/296/EC)THE COUNCIL OF THE EUROPEAN UNION,Having regard to the Treaty establishing the European Community, and in particular Articles 112(2)(b) and 122(4) thereof, and to Articles 11.2 and 43.3 of the Protocol on the Statute of the European System of Central Banks and of the European Central Bank,HEREBY RECOMMENDS THAT:Mr José Manuel GONZÁLEZ-PÁRAMO be appointed a member of the Executive Board of the European Central Bank for a term of office of eight years with effect from 1 June 2004.This recommendation shall be submitted for a decision to the Heads of State or Government of the Member States of the European Community whose currency is the euro, after consulting the European Parliament and the Governing Council of the European Central Bank.This recommendation shall be published in the Official Journal of the European Union.Done at Brussels, 30 March 2004.For the CouncilThe PresidentM. McDowell


title: Recommendation of the European Central Bank of 14 July 2016 to the Council of the European Union on the external auditors of Eesti Pank (ECB/2016/20)

text:
               22.7.2016

               EN

               Official Journal of the European Union

               C 266/1

         RECOMMENDATION OF THE EUROPEAN CENTRAL BANK
   of 14 July 2016
   to the Council of the European Union on the external auditors of Eesti Pank
   (ECB/2016/20)
   (2016/C 266/01)
   THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,
   Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 27.1 thereof,
   Whereas:

               (1)

               The accounts of the European Central Bank (ECB) and the national central banks of the Member States whose currency is the euro are audited by independent external auditors recommended by the ECB’s Governing Council and approved by the Council of the European Union.

               (2)

               The mandate of Eesti Pank’s current external auditors, AS Deloitte Audit Eesti, ended following the audit for the financial year 2015. It is therefore necessary to appoint external auditors from the financial year 2016.

               (3)

               Eesti Pank has selected KPMG Baltics OÜ as its external auditors for the financial years 2016 to 2020,

         HAS ADOPTED THIS RECOMMENDATION:
   It is recommended that KPMG Baltics OÜ should be appointed as the external auditors of Eesti Pank for the financial years 2016 to 2020.

      Done at Frankfurt am Main, 14 July 2016.

            The President of the ECB

         Mario DRAGHI


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31983K0376

Commission Recommendation No 376/83/ECSC of 14 February 1983 imposing a provisional anti-dumping duty on imports of certain sheets and plates, of iron or steel, originating in Brazil

Official Journal L 045 , 17/02/1983 P. 0014 - 0016

*****COMMISSION  RECOMMENDATION No 376/83/ECSC  of 14 February 1983  imposing a provisional anti-dumping duty on imports of certain sheets and plates, of iron or steel, originating in Brazil  THE COMMISSION OF THE EUROPEAN  COMMUNITIES,  Having regard to the Treaty establishing the European Coal and Steel Community,  Having regard to Commission recommendation No 3018/79/ECSC of 21 December 1979 on protection against dumped or subsidized imports from countries not members of the European Coal and Steel Community (1), as last amended by recommendation No 3025/82/ECSC (2), and in particular Article 11 thereof,  After consultations within the Advisory Committee as provided for under the above recommendation,  Whereas in May 1982 the Commission received a complaint, lodged by the Walzstahl-Vereinigung, Duesseldorf, on behalf of almost all Community producers of sheets and plates, of iron or steel, not further worked than hot-rolled, of a thickness of 3 mm or more;  Whereas, since the complaint provided sufficient evidence of dumping in respect of the like product originating in Brazil and of material injury resulting therefrom, the Commission accordingly announced, by a notice published in the Official Journal of the European Communities (3), the initiation of a proceeding concerning imports of certain sheets and plates, of iron or steel, originating in Brazil and commenced an investigation of the matter at Community level;  Whereas the Commission officially so advised the exporters and importers known to be concerned, as well as the representatives of the exporting country and the complainants;  Whereas the Commission has given all parties directly concerned the opportunity to make known their views in writing, and to be heard orally; whereas the exporting and several of the importing parties known to be concerned have taken the opportunity to make known their views in writing;  Whereas, in order to arrive at a preliminary assessment of dumping and of injury, the Commission sought to obtain and verify all information which it deemed to be necessary; whereas the Commission carried out inspections at the premises of Stahlwerke Peine-Salzgitter AG, Salzgitter, Thyssen AG, Duisburg and Arbed Saarstahl GmbH, Voelklingen; whereas the Commission also carried out an on-the-spot investigation at the offices of Itoh O & Co. GmbH, Duesseldorf, the only importer who replied to the questionnaire, and at the offices of Thyssen Stahl Union, Duesseldorf; whereas the Brazilian authorities objected to an on-the-spot verification at the offices of the Brazilian exporters concerned, Cosipa, São Paulo, CSN, Rio de Janeiro and Usiminas, Belo Horizonte;  Whereas the Commission chose 1 August 1981 to 31 July 1982 as the reference period for the examination of dumping;  Whereas, for its preliminary determination of dumping, the Commission compared, transaction by transaction, the Brazilian export prices with the normal values in respect of sales of prime-quality material during the investigation period;  Whereas the Commission determined normal value for the products under investigation on the basis of the basic prices (basic + extra) published by it, applicable to imports of products of like quality and dimensions during the period covered by the investigation;  Whereas export prices were established on the basis of the prices which were submitted in writing to the Commission by the Brazilian exporters paid or payable for the products sold for export to the Community; whereas, for the purpose of the comparison with the normal value, these prices were adjusted to a cif Community-frontier level, duty-paid, using the information on ocean transport and insurance available to the Commission;  Whereas this comparison showed weighted average dumping margins of 25,4 % for Cosipa and of 23,7 % for Usiminas; whereas, while CSN has also exported like products to the Community, no information on quantities and prices was made available; whereas it was appropriate to calculate one overall margin for all three exporting companies since they are all members of the government-owned Siderbras Group; whereas this weighted average margin based on exports made by Cosipa and Usiminas was found to be 24,3 % which is equivalent to 72,20 ECU per tonne;  Whereas, with regard to injury, the Commission has found that imports into the Community of the products under consideration originating in Brazil  increased from 18 074 tonnes in 1981 to 89 808 tonnes in the first seven months of 1982; whereas imports of these products into the Federal Republic of Germany showed a particularly steep incease, from 6 044 tonnes in 1980 to 14 744 tonnes in 1981 and to 81 094 tonnes in the period January to July 1982; whereas, since most of the imports from Brazil were offered for sale in the Federal Republic of Germany which accounts for a major proportion of the total Community production of the products concerned, the Commission concentrated its investigation on the impact of imports from Brazil on the market in that Member State; whereas, using the information available, it found that the market share held by these imports in Germany had increased from 0,3 % in 1980 to 0,7 % in 1981 and to 5,5 % in the period January to July 1982;  Whereas the prices of these imports were particularly low; whereas the Commission found that several importers had re-sold the imported goods within the Community at prices which were substantially below Community producers' list prices in force at the time of delivery and below a price level which would permit Community producers to cover their costs;  Whereas the Commission has also examined the impact of the imports from Brazil on the Community industry; whereas the information available to the Commission shows that the production of like products in the Federal Republic of Germany in the first seven months of 1982 was 4,2 % below the level of production in 1980 and as much as 7,4 % below 1981 production levels; whereas, in the first half of 1982, sales of like products by German producers in Germany were 5,2 % below 1980 and 12,9 % below 1981 levels while consumption in the first seven months of 1982 was more than 8 % higher than in 1981 and 1980; whereas, moreover, the monthly average of imports of like products from other Member States into Germany between January and July 1982 was 14 513 tonnes lower than in 1980 and 10 548 tonnes lower than in 1981;  Whereas the Commission also took into account the fact that the Community steel industry is in a state of crisis; whereas the overall steel output has been cut considerably and the numbers employed fell by 244 700 or 30,8 % between 1974 and 1981; whereas the situation of the Community producers continues to be one of extremely low capacity utilization levels and seriously reduced profits or of losses;  Whereas, in order to remedy this situation, the Community's steel policy seeks to ensure sufficient price levels for the products concerned sold in the Community through the use of internal and external measures; whereas the internal measures consist of production quotas for ECSC companies and the obligation to respect certain price levels; whereas, in order to keep imports within reasonable limits, the Community has concluded steel arrangements with a large number of supplying countries which involve quantitative limitations on exports to the Community and the observance of arrangement prices which are closely linked to the development of internal price levels in the Community;  Whereas production quotas for Community producers are adjusted periodically on the basis of a forecast of supply and demand for the products concerned, taking into account the development of imports from third countries including those whose exports are not covered by a bilateral arrangement with the Community; whereas any sharp increase in imports from these countries, such as Brazil, requires a downward adjustment of the quotas of Community producers and thereby increases their indirect costs and further reduces their margins;  Whereas imports of significant quantities of dumped products into the Community also put into question the objectives sought by the external measures adopted within the framework of the Community steel policy; whereas third countries which have concluded steel trade arrangements with the Community will only respect and renew these arrangements if they see a reasonable chance of selling the quantities provided for at the price levels agreed; whereas significant imports of dumped products from sources not covered by an arrangement jeopardize the equilibrium not only of the internal quantity and pricing system but also of the quantities and prices agreed with most of the supplying countries;  Whereas the Commission has considered whether injury has been caused by other factors which individually or in combination could adversely affect the Community industry, such as volume and prices of imports from other third countries; whereas, while the level of consumption in Germany increased by over 14 000 tonnes per month between 1981 and 1982, the volume of imports from other non-member countries into the Federal Republic of Germany increased at a much lower rate, from a monthly average of 44 654 tonnes in 1981 to an average of 53 495 tonnes in the first seven months of 1982; whereas from January to June 1982 approximately three-quarters of these imports originated in arrangement countries, whose exports have to respect strict minimum price levels; whereas the impact of the dumped imports from Brazil, which accounted for more than 62 % of imports from non-arrangement countries, has been isolated from these other factors;  Whereas, taking into account the already extremely difficult situation of the Community industry and the restructuring efforts being undertaken at present, the Commission has reached the preliminary conclusion that the dumped imports originating in Brazil are causing or threatening to cause material injury to a Community industry;  Whereas, in these circumstances and in order to prevent further injury being caused during the proceeding, the interests of the Community call for immediate intervention consisting in the imposition of a provisional anti-dumping duty; whereas, having regard to the extent of injury caused, the rate of this duty should be equal to the dumping margin preliminarily established, due consideration being given to any reduction in value claimed by the importers and established to the satisfaction of the competent national authorities;  Whereas a time limit should be fixed within which the parties concerned may, following the imposition of the provisonal duty, make their views known and apply to be heard orally by the Commission,  MAKES THE FOLLOWING RECOMMENDATION:  Article 1  1. A provisional anti-dumping duty is hereby imposed on sheets and plates of iron or steel, not further worked than hot-rolled, of a thickness of 3 mm or more, falling within subheading 73.13 B I ex a) of the Common Customs Tariff and corresponding to NIMEXE codes 73.13-17, 19, 21 and 23, originating in Brazil.  2. The amount of the duty shall be 72,20 ECU per 1 000 kilograms net.  3. The duty shall, however, be reduced to the extent that the importer establishes, to the satisfaction of the competent national authorities, that the quality of these products is inferior to the lowest quality described in the last publication of basic prices by the Commission.  4. The provisions in force concerning customs duties shall apply for the application of the duty.  5. The release for free circulation in the Community of the products referred to in paragraph 1 shall be subject to the provision of a security equivalent to the amount of the provisional duty.  Article 2  1. Without prejudice to Article 7 (4) (b) and (c) of recommendation No 3018/79/ECSC, the parties concerned may make known their views and apply to be heard orally by the Commission within a month of the entry into force of this recommendation.  2. Subject to Articles 11, 12 and 14 of recommendation No 3018/79/ECSC, this recommendation shall be applicable for a period of four months, unless the Commission adopts definitive measures before the expiry of that period.  Article 3  This recommendation shall enter into force on the day following its publication in the Official Journal of the European Communities.  Done at Brussels, 14 February 1983.  For the Commission  Étienne DAVIGNON  Vice-President  (1) OJ No L 339, 31. 12. 1979, p. 15.  (2) OJ No L 317, 13. 11. 1982, p. 17.  (3) OJ No C 197, 31. 7. 1982, p. 3.


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31977H0714

77/714/EEC: Council Recommendation of 25 October 1977 on the creation in the Member States of advisory bodies or committees to promote combined heat and power production and the exploitation of residual heat

Official Journal L 295 , 18/11/1977 P. 0005 - 0006 Greek special edition: Chapter 12 Volume 1 P. 0231  Spanish special edition: Chapter 12 Volume 3 P. 0038  Portuguese special edition Chapter 12 Volume 3 P. 0038

COUNCIL RECOMMENDATION  of 25 October 1977  on the creation in the Member States of advisory bodies or committees to promote combined heat and power production and the exploitation of residual heat  (77/714/EEC)  THE COUNCIL OF THE EUROPEAN COMMUNITIES,  Having regard to the Treaty establishing the European Economic Community,  Having regard to the draft from the Commission,  Whereas in its resolution of 17 September 1974 concerning a new energy-policy strategy for the Community (1) the Council approved the objective of reduction of the rate of growth of internal consumption by measures for using energy rationally and economically without jeopardizing social and economic growth objectives;  Whereas improvements in the rational use of energy are generally beneficial to the environment;  Whereas in its resolution of 17 December 1974 on a Community action programme on the rational utilization of energy (2) the Council noted that, in its communication to the Council entitled "Rational Utilization of Energy", the Commission had drawn up a Community action programme in this field;  Whereas a more rational use of energy can be obtained by greater use of combined heat and power production and the exploitation of residual heat in industry, electricity generating and remote heat supply systems;  Whereas implementation of this technique requires the solution of a number of complex problems of an economic, technical, administrative and legislative nature;  Whereas the solution of these problems depends to a large extent on local, regional and national factors;  Whereas the search for solutions at local and regional level is facilitated by an exchange of information and cooperation at national and Community level,  HEREBY RECOMMENDS TO THE MEMBER STATES:       1. that they create one or more advisory bodies or committees, in so far as these do not already exist, to be responsible for giving an opinion on all measures likely to lead to increased efficiency in the supply of heat for industry and to promote the use of remote heat supply systems, in particular by:      - concentrating heat production and making greater use of combined heat and power production;           - greater thermal efficiency of power stations by exploitation of their residual heat;           - improved efficiency of heat conduits and associated distribution installations in industrial establishments and in district heating systems, while taking into account the service life of the conduits;                  2. that to this end they invite the advisory bodies or Committees to consider the following measures:      - broadening of cooperation between electrical utilities and heat-consuming industries;           - identification and abolition of legal, administrative and price obstacles to the development of combined heat and power production to supply industry;           - reservation of sites on which industrial complexes and combined heat and power stations can be built side by side;           - encouragement, in accordance with Article 92 et seq. of the Treaty, of combined heat and power production and of the transport of heat;  (1)OJ No C 153, 9.7.1975, p. 1. (2)OJ No C 153, 9.7.1975, p. 5.            - provision of better information to small- and medium-sized industrial undertakings;           - drawing up statements of heat requirements;                  3. that they encourage the advisory bodies or Committees to have regular exchanges of experience and to cooperate at Community level through procedures organized by the Commission;       4. that they instigate and promote technical and economic studies with the aim of identifying new economically viable remote heat supplies and that they promote the development, where justifiable, of existing district heating and industrial heat supply systems;       5. that they inform the Commission regularly of the measures taken in the field covered by this recommendation and of the results obtained or anticipated from the measures.            Done at Luxembourg, 25 October 1977.  For the Council  The President  W. CLAES


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52004SC0008

Recommendation for a Council Opinion in accordance with the third paragraph of Article 9 of Council Regulation (EC) No 1466/97 of 7 July 1997 On the Updated Convergence Programme of Denmark, 2003-2010  /* SEC/2004/0008 final */

Recommendation for a COUNCIL OPINION in accordance with the third paragraph of Article 9 of Council Regulation (EC) No 1466/97 of 7 July 1997 On the Updated Convergence Programme of Denmark, 2003-2010(presented by the Commission)EXPLANATORY MEMORANDUMCouncil Regulation (EC) No. 1466/97, on the strengthening of the surveillance of budgetary positions and the surveillance and co-ordination of economic policies [1], stipulated that countries not participating in the single currency were to submit convergence programmes to the Council and the Commission by 1 March 1999. In accordance with Article 9 of this Regulation, the Council had to examine each convergence programme based on the assessments prepared by the Commission and the Committee set up by Article 114 of the Treaty, the Economic and Financial Committee. The Commission adopted a recommendation on each programme. On the basis of this recommendation and after having consulted the Economic and Financial Committee, the Council delivered an opinion, following its examination of the programme. According to the Regulation, the updated convergence programmes, to be presented annually, may also be examined by the Council in accordance with the same procedures.[1]  OJ L 209, 2.8.1997. All the documents referred to in this text can be found at the following web siteDenmark's convergence programme covering the period 1998-2005 was submitted on 30 October 1998 and assessed by the Council on 1 December 1998 [2] and updates were presented every following year.[2]  OJ C3, 6.1.1999.Denmark submitted the fifth and most recent updated convergence programme, covering the period 2003-2010, on 28 November 2003. The Commission services have carried out a technical evaluation of this updated programme taking into account the information provided in accordance with the Code of Conduct [3], the Autumn forecasts as well as subsequent evaluations, the commonly agreed methodology for the estimation of cyclically-adjusted balances, the recommendations in the Broad Economic Policy Guidelines and the principles laid down in the Communication of the Commission to the Council of 27 November 2002 on strengthening the co-ordination of budgetary policies [4]. This evaluation warrants the following assessment:[3]  Revised Opinion of the Economic and Financial Committee on the content and format of stability and convergence programmes, endorsed by the ECOFIN Council on 10.7.2001.[4]  COM(2002) 668 final, 27.11.2002.The programme is rich in information especially with regard to the data provided for the analysis of medium and long-term challenges of the Danish public finances and it broadly complies with the Code of Conduct [5]. The strategy for public finances presented is largely unchanged and continues to focus on ensuring sustainable public finances in the medium and long term. The foundation for the strategy continues to be both the maintenance of general government surpluses of the order of 1½-2½% of GDP on average until 2010, and the tax freeze, which also is intended to help ensure public expenditure control. Tax reductions on labour income, to be implemented in 2004, aim at enhancing labour supply. Moreover, a series of labour market initiatives have been implemented.[5]  Revised Opinion of the Economic and Financial Committee on the content and format of stability and convergence programmes, endorsed by the ECOFIN Council on 10.7.2001.Overall, the Danish economy is in good shape. However, as for the rest of the EU Member States, the economy has developed less favourably in 2003 than foreseen in the updated programme. After the robust GDP growth in 2002, growth slowed markedly in 2003. In 2004 and 2005, GDP growth is estimated to be just above 2%. The growth picture of the programme forecast for the coming years is close to the Commission's. For 2003, however, the Commission services (and recently also the Danish authorities) forecast a markedly lower growth [6].[6]  On 11 December, the Ministry of Finance released a revised forecast, with GDP growth in 2003 at 0.4%, which is closer to the Commission's forecast.Inflation has come down in Denmark in 2003, to around 2%. This development is mainly due to lower increases in energy prices. Price increases in the services sector is part of the reason why inflation has been slightly above the euro area average. Wage increases in Denmark have been higher than in the euro area, but due to higher productivity growth the effects on price inflation have been limited. .The CP 2003 foresees inflation to decline further in the next years, due to slack in the labour market as well as to falling import prices and lower excise duties. Overall, the inflation forecast is similar to the Commission's.Public finances in Denmark remain sound, showing surpluses in the general government balance since 1997. Central government and social security sector are currently in surplus. For the coming years, the updated programme foresees general government surpluses of between 1¼% and 1¾% until 2005. This is broadly in line with the Commission's estimates. For the rest of the projection period, surpluses of around 2% of GDP are projected. Both the Commission's and programme calculations of cyclically adjusted balances show continued surpluses over the period and confirm that public finances should remain sound. The government debt is expected to fall from 45.5% of GDP in 2002 to reach 27½ % in 2010.Local authorities are under the obligation to balance revenue and expenditure. The tax freeze is a key mechanism for enforcing expenditure control, as local governments are severely restricted in access to raising capital via loans. In 2002, the tax freeze apparently did not fully constrain local government spending, as there were some spending overruns. As the largest share of public consumption is the responsibility of local governments, their adherence to the agreements with the central government, including the tax freeze, is therefore crucial for the achievement of the overall target for public consumption. The target for the growth of real public consumption is tightened in the updated programme. From 2005 onwards it is set at ½%, an ambitious target in the light of past trends. Overall, compliance with the tax freeze as well as with budget agreements between local and central government seems to have improved since 2002, but it is not established that the present instruments can deliver on the targets for public consumption growth in 2003 and thereafter. Historically, expenditure control in Danish public finances has had a mixed record. Reaching these targets is a recommendation to Denmark in the 2003 Broad Economic Policy Guidelines.The achievement of the medium term public finance targets hinges to a large extent on the realisation of some ambitious labour market goals which include increasing the labour force participation rates beyond their already high level [7]. The already implemented measures, including the tax reform, should increase employment. It is acknowledged in the programme that in addition to realising the labour supply effect of already adopted reforms, additional measures need to be implemented. The direction of these reforms is, however, not spelled out in the programme. Moreover, the recent slowdown has been accompanied by deterioration on the labour market. This development does not necessarily pose a threat to reaching the medium-term targets for the labour market, but actual employment needs to increase additionally in order to also eliminate the cyclical part of the current unemployment.[7]  The overall employment rate in Denmark was 76% in 2002. The employment rate for older workers (aged 55-64) in the same year was 58%.The Danish authorities intend to reduce the tax ratio in the programme period, while ensuring the sustainability of public finances. However, as stated in the Council Opinion on the 2002 update of Denmark's Convergence Programme, the tax ratio in Denmark will remain high compared to other industrialised countries.The programme presents calculations on long-term sustainability of public finances, including sensitivity analyses. The quantifications of the consequences for public finances of no further reforms are illustrative. Given the potential impact of such a shortfall on the sustainability of public finances, the programme would have benefited from more information about future direction of reform. The budgetary strategy outlined in the programme is compatible with improving the sustainability of public finances. The strategy is comprehensive and includes measures to run down debt, by maintaining a surplus over the programme period and use additional revenues induced by the North Sea agreement for faster debt reduction. If the medium term projection materialises as spelled out in the programme, the large net assets projected for both the government and pension funds would put Denmark's public finances in a good position to handle the impact of the ageing population.The economic policies as reflected in the updated programme broadly comply with the 2003 Broad Economic Policy Guidelines, which recommended the Danish authorities to: continue to make work pay by increasing incentives to join the labour force; ensure expenditure control at all levels of government; step up efforts to enforce competition in sectors where competition is inadequate; and continue efforts to increase the efficiency of the public sector.Based on this assessment, the Commission has adopted the attached recommendation for a Council opinion on the convergence programme update of Denmark and is forwarding it to the Council.Recommendation for a COUNCIL OPINION in accordance with the third paragraph of Article 9 of Council Regulation (EC) No 1466/97 of 7 July 1997 On the Updated Convergence Programme of Denmark, 2003-2010THE COUNCIL OF THE EUROPEAN UNION,Having regard to the Treaty establishing the European Community,Having regard to Council Regulation (EC) No 1466/97 of 7 July 1997 on the strengthening of the surveillance of budgetary positions and the surveillance and co-ordination of economic policies [8], and in particular Article 9 (3) thereof,[8]  OJ L 209, 2.8.1997.Having regard to the recommendation of the Commission,After consulting the Economic and Financial Committee,HAS DELIVERED THIS OPINION:On 20 January 2004, the Council examined Denmark's updated Convergence Programme, which covers the period 2003-2010. The programme is rich in information especially with regards to the amount of data provided for the analysis of medium- and long-term challenges of the Danish public finances and broadly complies with the Code of Conduct on the content and format of Stability and Convergence Programmes.The strategy for public finances presented is largely unchanged and continues to focus on ensuring sustainable public finances in the medium and long term. The foundation for the strategy continues to be both the maintenance of general government surpluses of the order of 1½-2½% of GDP on average towards 2010, and the tax freeze, which also is intended to help ensure public expenditure control. Tax reductions on labour income are to be implemented in 2004, aiming at enhancing labour supply. Moreover, a series of labour market initiatives have been implemented. However, additional measures to raise labour supply are necessary, as acknowledged in the programme.The update projects GDP growth to accelerate from an estimated 1.4% to above 2% in 2004 and 2005. The growth picture of the programme forecast for 2004 and 2005 is realistic and it is close to the Commission's. For 2003, the Commission services (and recently the Danish authorities) forecast a markedly lower growth.Public finances in Denmark continue to remain sound. For 2003 to 2005 the programme update forecasts budget surpluses of 1¼% of GDP to 1¾% of GDP, which is broadly in line with the Commission's estimates. For the rest of the period the programme projects surpluses just below 2% of GDP. Also in underlying terms public finances should remain sound over the projection period. The debt is expected to decrease from 45.5% of GDP in 2002 to 27½ % of GDP in 2010. Denmark will therefore continue to comply fully with the requirements of the Stability and Growth Pact.The budgetary stance should provide a safety margin against breaching the 3% of GDP deficit threshold with normal macroeconomic fluctuations. Under plausible macro-economic and budgetary assumptions, the medium-term objective of a budgetary position of close to balance or in surplus should be maintained over the programme period.The achievement of the medium term public finance targets hinges to a large extent on the realisation of a set of ambitious labour market goals, which include increasing the labour force participation rates from their already high level. The updated programme acknowledges that further labour market reforms are required in order to obtain these goals. A non-realisation of the labour market objectives may have important implications for the projected developments of public finances. The programme would therefore have benefited from more information about future direction of reform.The Danish authorities intend to reduce the tax ratio in the programme period, while ensuring the sustainability of public finances. However, as stated in the Council Opinion on the 2002 update of Denmark's Convergence Programme, "the tax ratio in Denmark will remain high compared to other industrialised countries, and consideration could be given to further reductions, in a framework of sound public finances".On the basis of current policies and the medium term projections in the updated programme, the large net assets projected for both the government and pension funds would put Denmark's public finances in a good position to handle the impact of the ageing population.The 2003 Broad Economic Policy Guidelines included recommendations to the Danish authorities to continue to make work pay by increasing incentives to join the labour force; and to ensure expenditure control at all levels of government. The economic policies as reflected in the updated convergence programme are broadly consistent with the 2003 Broad Economic Policy Guidelines.