Willie O'Dea
Question:15 Mr. O'Dea asked the Minister for Tourism and Trade the progress, if any, made towards the harmonisation of EU export credit insurance conditions during 1996. [2523/97]
Written Answers. - Export Credit Insurance.
As the Deputy may be aware, the European Commission submitted, in September 1994, a proposal for a Council directive on harmonisation of the main provisions concerning export credit insurance for transactions with medium and long-term cover. While the principle of harmonisation was supported by all member states, there was strong opposition to the manner through which the Commission proposed this harmonisation should be effected.
In late 1995, the issue was considered by the General Affairs Council, which requested the Commission to review its proposal. I understand that the Commission is continuing to work on its proposal, and I would expect that a formal proposal will soon be made by it.