Commission report to the budgetary authority on guarantees covered by the general budget - situation at 30 June 2006.

Abstract

The risks covered by the Union budget derive from a variety of lending and guarantee operations which can be divided into two categories: loans granted by the European Communities with macroeconomic objectives, i.e. macro-financial assistance (MFA) loans to non-member States, and loans with microeconomic objectives (Euratom and European Investment Bank (EIB) loans2 in non-member States). Current risks on Member States result from loans disbursed prior to accession.