51997IP0979

B4-0979, 0993, 0994, 0995, 0996, 0997 and 0998/97

Resolution on the Guarantee Fund to promote cinema and television production

The European Parliament,

- having regard to the proposal for a Decision establishing a European Guarantee Fund to promote cinema and television production ((OJ C 41, 13.2.1996, p. 8.)),

- having regard to its opinion thereon of 22 October 1996 ((OJ C 347, 18.11.1996, p. 33.)) giving a very broad measure of approval to that proposal, while calling for a five-year trial period,

A. whereas the increase in the number of channels is leading to an increase in demand for programmes,

B. whereas the EU's deficit in terms of cultural trade (cinema, TV, video) with the US rose from USD 2.1 billion in 1988 to USD 6.3 billion in 1995,

C. whereas European instruments, such as the Media and Eurimages programmes, have contributed to the development of some forms of cinema production throughout Europe,

D. whereas, however, in order to cope with current market developments the Union must quickly provide itself with the means of guaranteeing the existence of a strong and competitive European audiovisual sector which gives expression to our wide range of cultures and makes them available to the European public,

E. emphasizing that the involvement of banking institutions in the financing of the cinematographic industry and audiovisual programmes is essential if backing is to be provided for the expansion of audiovisual production and the renewal of European film industries,

F. whereas the consideration of the Guarantee Fund is on the agenda for the next Council of Ministers of Cultural Affairs on 24 November 1997,

1. Reiterates its support for the establishment of a European Guarantee Fund designed to reduce the risks run by financial backers in the private sector and encourage them to step up their investment in the audiovisual sector;

2. Takes the view that the audiovisual market, which is undergoing major expansion, is a cultural and commercial sector of the future whose potential for creating skilled jobs should not be disregarded and that it is important, therefore, to stimulate investment in the production sector;

3. Regrets the fact that, in spite of its abovementioned favourable opinion of 22 October 1996, the Council has still not reached an agreement;

4. Urges, therefore, the Council of Ministers of Cultural Affairs, at its meeting on 24 November 1997, to reach a political agreement on the establishment of such a Guarantee Fund which is eagerly awaited by the audiovisual industry and the financial sector;

5. Instructs its President to forward this resolution to the Commission and the Council.