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Article: ECOFIN COUNCIL: MINISTERS START PREPARATIONS FOR SPRING SUMMIT.(Economic and Financial Committee )
- Article from:
- European Report
- Article date:
- February 15, 2006
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Speaking for the Austrian Presidency, Karl-Heinz Grasser indicated that a "broad consensus" emerged regarding financial proposals from the European Investment Bank (see Europe Information 3029). Mr Grasser was more evasive about the French proposal tabled in October at the Hampton Court summit concerning an euro 10 billion increase in funds available to the EIB for small businesses that prove particularly innovative in the area of R&D (Risk Sharing Financial Facility). One senior official did however suggest there is "general agreement on the principle". That said, the major contributors to the EU budget are still reluctant to sanction such largesse. Taking a diplomatic ...