ECSC financial report 1999

Abstract

With a view to the expiry on 23 July 2002 of the ECSC Treaty under the terms of Article 97, a wide-ranging debate was launched in the early 1 990s involving all the itlterested parties: Member States, Council, Com-mission, ECSC Consultative Committee, European Parliament, and the in-dustries concemed. In theory, several options were available: renewal of the Treaty, expiry of the Treaty immediately or as scheduled, or a compro-mise scenario. In view of the foreseeable developments in the sectors concerned, it was soon decided that the ECSC Treaty should expire as scheduled and that the coal and steel sectors should be placed under the ordinary regime set up by the Treaty establishing the European Community (''). Already in 1 992, the Commission suggested (4) the gradual incorporation ('phasing in') of the coal and steel sectors into the Treaty establishitlg the European Community, and put forwar-d a possible scenario for phasing out budgetary expenditure by 2002. This scetlario was updated to Incorporate the proposed reduction of the levy and the release of the ECSC reserves as a result of the reduction ill borrowing/lending activity (5).