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

• Published date: 20 April 1995
• Subject Matter: Industry,economic, social and territorial cohesion,Textiles,Coordination of structural instruments
• Official Gazette Publication: Official Journal of the European Communities, L 86, 20 April 1995

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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

Official Journal L 086 , 20/04/1995 P. 0010 - 0013

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...