reduction measures: in capital markets, reduction of risk assets by [...]* % and of debt finance by [...]* %; in real estate, reduction of the volume of investment funds by over [...]* % (about EUR [...]*) and of project development by [...]* % (about EUR [...]*), and office closure and staff reductions of 50 %; reduction of the small public‐sector business and integration of the remainder into the corporate business.

There has been some delay in following up the reductions in production with the necessary cutbacks in the workforce, in order to attenuate as far as possible the social consequences of the measures to reduce activity.

So that sales can be awarded in response to the greatest possible number of tenders submitted where the proposed prices are deemed satisfactory and the proposed end uses are suitable for developing new industrial outlets for the product, it should be possible, within certain limits, for tenderers who have submitted such tenders to be awarded a replacement lot. Such a procedure is likely to increase sales of Community alcohol and thus reduce stocks which must otherwise be managed at a high cost to the budget.

(105) So that sales can be awarded in response to the greatest possible number of tenders submitted where the proposed prices are deemed satisfactory and the proposed end uses are suitable for developing new industrial outlets for the product, it should be possible, within certain limits, for tenderers who have submitted such tenders to be awarded a replacement lot. Such a procedure is likely to increase sales of Community alcohol and thus reduce stocks which must otherwise be managed at a high cost to the budget.

Risk reduction measures should include less restrictive alternatives which make it possible to achieve an equivalent level of protection, such as appropriate treatment, reduction of exposure, tightening of controls, adoption of provisional limits, recommendations for populations at risk, etc.

(5) Whereas Article 4 of Directive 94/12/EC requires that the Commission propose standards which will be enforced after the year 2000, according to a new multi-faceted approach, based on a comprehensive assessment of costs and efficiency of all measures aimed at reducing road transport pollution; whereas the proposal should, besides the tightening of car emission standards, include complementary measures such as an improvement in fuel quality and a strengthening of the motor-vehicle inspection and maintenance programme; whereas the proposal should be based on the establishment of air quality criteria and associated emission reduction objectives and an e ...[+++]valuation of the cost-effectiveness of each package of measures, taking into account the potential contribution of other measures such as traffic management, enhancement of urban public transport, new propulsion technologies or the use of alternative fuels; whereas, given the urgency of community action on the limitation of pollutant emissions by motor vehicles, the present proposals are also based on present or anticipated best available anti-pollution technologies which are liable to speed up the replacement of polluting motor vehicles;