The YOUTH FOR EUROPE III programme was finally approved by the Parliament on 2 March 1995 in Brussels after a drawn-out co-decision procedure due to disagreement between the European Parliament and the Council of Ministers on the programme's financing. The final budget of ECU 126 million arrived at by the Conciliation Committee represents almost double the EU's investment in the previous YOUTH FOR EUROPE II programme (1992-1994). Mrs. Edith Cresson, Commissioner responsible for research, education and training, welcomed the programme's approval and said that YOUTH FOR EUROPE III (1995-1999) would give 70,000 young people the opportunity to benefit from the experience of mobility within Europe. The programme will operate outside school and university structures, co-financing the following activities: - Youth exchanges and mobility; - Activities of youth leaders and educators (training, placements, seminars in other Member States); - Cooperation between State-run or non-governmental structures responsible for youth affairs within the Member States, through practical placements, study visits, conferences, etc.; - Youth exchanges with third countries; - Information for young people and studies on issues affecting young people.