Commission report to the budgetary authority on guarantees covered by the general budget - situation at 31 December 2004.

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 (balance-of-payments loans to Member States and macro-financial assistance (MFA) loans to non-member States) and loans with microeconomic objectives (Euratom and EC-NCI2 loans in Member States and Euratom and European Investment Bank (EIB) loans3 in non-member States).