| Author (Corporate) | Council of the European Union |
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| Series Title | Official Journal of the European Union |
| Series Details | L101, 20.04.18 |
| Publication Date | 20/04/2018 |
| Content Type | Legislation |
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Background: In the context of the quantitative-easing policy led by the European Central Bank, combined with the security principle that governs the management of the assets of the European Coal and Steel Community (ECSC) in liquidation, the revenues assigned to the funding of research projects for coal and steel are decreasing at a substantial rate from one year to the other, leading to a situation where the critical level of funding for organising an annual call for proposals may not be met. A bridging solution which would maintain for a certain period an acceptable level of funding of coal and steel research projects while waiting for a change in monetary policy and an increase of asset returns on public bonds markets can be found in the recycling of unused appropriations put at the disposal of the research programme of the Research Fund for Coal and Steel (RFCS) and in particular the amounts corresponding to cancellations of commitments made under this programme. The adoption of the proposed revision will authorise the recycling of all the de-commitments (including the amounts recovered) made in the RFCS research programme since 2003 which have been returned to the assets of the ECSC in liquidation and represent a possible complementary funding for the RFCS research programme of €40.3 million. It will also provide an extra funding of about €5 million per year (average flow of annual de-commitments over the three past years in RFCS research programme). |
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| Source Link | http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.L_.2018.101.01.0001.01.ENG |
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| Countries / Regions | Europe |
