Press Release: Risk Capital: Commission calls for timely implementation of Action Plan

The European Commission has called for sustained effort to meet the 2003 deadline set by the European Council in Lisbon for completing the Risk Capital Action Plan (RCAP) action plan following the adoption of a mid-term review of the Action Plan on 25 October 2001. The Commission notes that despite some progress in removing obstacles more needs to be done. In particular, the Commission calls for its proposals to be adopted and implemented rapidly concerning securities markets legislation (including implementation of the recommendations of the Lamfalussy group), removing tax obstacles, promoting innovative projects and agreeing on an affordable single Community Patent system.