Press Release: Risk Capital: European Commission calls for renewed efforts to boost flagging markets

The amount of venture capital invested in the EU in 2001 fell by 35 % from 2000 levels but still remained above earlier years according to the European Commission's fourth progress report on the implementation of the Risk Capital Action Plan, published on 17 October 2002. The report acknowledges important progress over the last year in the modernisation of the regulatory framework for risk capital, and in particular the successful introduction of euro notes and coins and important steps towards finalising the implementation of the EU's Financial Services Action Plan. However, it calls for more effort on the pan-European patent and on breaking down undesirable tax barriers. The Report recognises that unfavourable market conditions and a lack of integration between national markets are still hampering risk capital operators in both current and future EU Member States.

http://ec.europa.eu/comm/internal_market/en/finances/general/index.htm http://ec.europa.eu/comm/internal_market/en/finances/general/index.htm

---