FREE BOOKS

Author's List




PREV.   NEXT  
|<   17   18   19   20   21   22   23   24   25   26   27   28   29   30   31   32   33   34   35   36   37   38   39   40   41  
42   43   44   45   46   47   48   49   50   51   52   53   54   55   56   57   58   59   60   61   62   63   64   65   66   >>   >|  
on a proposal from the Commission, decide to make its recommendations public. The President of the Council and the Commission shall report to the European Parliament on the result of multilateral surveillance. The President of the Council may be invited to appear before the competent Committee of the European Parliament if the Council has made its recommendations public. 5. The Council, acting in accordance with the procedure referred to in Article 189c, may adopt detailed rules for the multilateral surveillance procedure referred to in paragraphs 3 and 4 of this Article. ARTICLE 103a 1. Without prejudice to any other procedures provided for in this Treaty, the Council may, acting unanimously on a proposal from the Commission, decide upon the measures appropriate to the economic situation, in particular if severe difficulties arise in the supply of certain products. 2. Where a Member State is in difficulties or is seriously threatened with severe difficulties caused by exceptional occurrences beyond its control, the Council may, acting unanimously on a proposal from the Commission, grant, under certain conditions, Community financial assistance to the Member State concerned. Where the severe difficulties are caused by natural disasters, the Council shall act by qualified majority. The President of the Council shall inform the European Parliament of the decision taken. ARTICLE 104 1. Overdraft facilities or any other type of credit facility with the ECB or with the central banks of the Member States (hereinafter referred to as "national central banks") in favour of Community institutions or bodies, central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of Member States shall be prohibited, as shall the purchase directly from them by the ECB or national central banks of debt instruments. 2. Paragraph 1 shall not apply to publicly-owned credit institutions which, in the context of the supply of reserves by central banks, shall be given the same treatment by national central banks and the ECB as private credit institutions. ARTICLE 104a 1. Any measure, not based on prudential considerations, establishing privileged access by Community institutions or bodies, central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of Member States to financial institutions shall be prohibited. 2.
PREV.   NEXT  
|<   17   18   19   20   21   22   23   24   25   26   27   28   29   30   31   32   33   34   35   36   37   38   39   40   41  
42   43   44   45   46   47   48   49   50   51   52   53   54   55   56   57   58   59   60   61   62   63   64   65   66   >>   >|  



Top keywords:

Council

 

public

 
central
 

Member

 

institutions

 
bodies
 

difficulties

 

Commission

 

States

 

credit


acting
 

referred

 
European
 

President

 

severe

 

proposal

 

Community

 
ARTICLE
 

national

 

Parliament


supply

 
unanimously
 

governments

 

undertakings

 

prohibited

 
governed
 

authorities

 
financial
 
regional
 

caused


recommendations
 

multilateral

 

decide

 

procedure

 

surveillance

 

Article

 
report
 

purchase

 

invited

 

result


accordance

 

facility

 

hereinafter

 
competent
 
favour
 

Committee

 

directly

 

Paragraph

 

measure

 

private