ECSC financial report 2001

Abstract

ith a view to the expiry of the ECSC Treaty on 23 July 2002 under the terms of Article 97, a wide-ranging debate was launched In the early 1990s Involving all the Interested parties — Member States, European Par-liament, Council, Commission, ECSC Consultative Committee and the in-dustries concerned. 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 (3). Already In 1992, the Commission had suggested (4) the gradual incorpora-tion ('phasing In') of the coal and steel sectors Into the Treaty establishing the European Community, and put forward a possible scenario for phasing out budgetary expenditure by 2002. This scenario was updated to incor-porate the proposed reduction of the levy and the release of the ECSC reserves as a result of the reduction In borrowing/lending activity (5).