ECSC financial report 1970

Abstract

This financial report relates to the calender year 1970, the eighteenth year of the European Coal and Steel Community's financial operations. It may be recalled that since the entry into force of the Treaty establishing a single Council and a single Commission of the European Communities (1967), the Com-mission exercises the powers vested in the former High Authority by the Treaty of Paris, each of the three Communities continuing to be governed by its own Treaty. Consequently, this report refers only to the "Commission" of the European Com-munities unless the name "High Authority" has to be used. During the year covered by this report, Community crude steel production in-creased by 1.9 million tons from 107.3 million tons in 1969 to 109.2 million tons in 1970. At the same time, coal production continued its downward trend, de-creasing from 171.2 million tons to 164.6 million tons. Capital expenditures in the coal and steel industries in 1970 can as yet only be estimated on the basis of the forecasts by ECSC enterprises to the Commission on 1 January 1970.