Commission to control coal and steel research
The European Commission will to continue to run research on improving the efficiency of the EU's coal and steel industries after the European Coal and Steel Community (ECSC) is disbanded in July 23, 2002. The treaty which led to the integration of these heavy industries within the EU expires on that date and the Commission unveiled proposals on September 7 for taking over responsibility for the ECSC's financial and research activities. The ECSC has assets of around 1.6 billion euro raised through levies on coal and steel products within the Community, which will provide a net annual income of around 45 million euro. The plan proposes that all assets and liabilities should be transferred to the Commission and managed separately for the original purpose of increasing competitiveness, growth and employment in the coal and steel industries. Overall, 27.2 per cent or income will be used to fund research projects in the coal sector and 72.8 per cent in the steel industry. The plan was drawn up by EC President Romano Prodi, along with vice-president for transport and energy Loyola de Palacio, research Commissioner Philippe Busquin, budget Commissioner Michaele Schreyer and economic and monetary affair Commissioner Pedro Solbes. It has already been agreed in principle with Member States and the European Parliament but the Commission proposes further consultation with the Parliament before it is finally adopted.