| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2013) 428 final (18.6.13) |
| Publication Date | 18/06/2013 |
| Content Type | Policy-making |
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The sustained financial and economic crisis has put national financial resources under pressure as Member States pursue necessary policies of fiscal consolidation. In this context, ensuring a smooth implementation of the European Fisheries Fund programmes is of particular importance for investment in the fisheries sector. Programme implementation is often challenging, not least as a result of the liquidity problems resulting from fiscal consolidation. This is particularly the case for those Member States which have been most affected by the crisis and have received financial assistance under an adjustment programme. To date, seven countries have received financial assistance and have agreed a macro-economic adjustment programme with the Commission. These countries are Cyprus, Hungary, Romania, Latvia, Portugal, Greece and Ireland, hereafter called "programme countries". Hungary, Romania and Latvia are no longer under an adjustment programme. To ensure that these Member States (and any other Member State which may benefit from such assistance programmes in the future) continue to implement the fisheries policy programmes on the ground and continue to disburse funds to projects, the current proposal contains provisions that would allow the Commission to make increased payments to these countries for the period they are under the support mechanisms, without modifying their overall allocation under the fisheries policy for the period 2007-2013. This will provide additional financial resources to the Member States at a critical juncture and will facilitate the continued implementation of programmes on the ground. |
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| Source Link | Link to Main Source http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2013:428:FIN |
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| Subject Categories | Business and Industry |
| Countries / Regions | Europe |
