At the same date, the sum of the inventories, work in progress, advances for inventories and trade debtors (in accounting terms, these items are referred to as current assets) related to the contracts for the Navy amounted to EUR 14,8 million.

62. Welcomes the work carried out by the EIB's Facility for Euro-Mediterranean Investment and Partnership (FEMIP) and emphasises the need for more synergies with other international financial institutions also active in the region, and proposes once again the setting-up of a Euro-Mediterranean co-development financial institution, of which the EIB would remain the main shareholder; supports the raising of the EIB guarantee ceiling in order to enable the EIB to maintain the intensity of its operations in the region in coming years; invites the EBRD to change its statutes in order also to participate in this financial assistance process; ...[+++]

However, an entity does not normally suspend capitalising borrowing costs during a period when it carries out substantial technical and administrative work.

· Finally, the role of the European Parliament should be clarified. If necessary, Parliament should seek a more active involvement. Parliament has the responsibility of fostering intercultural dialogue and must declare itself willing to ensure the continuity of the action and to ensure that respect for intercultural dialogue is one of the criteria for evaluating all the Union’s work.

In line with the opinions expressed in the two-year consultation process that started with the work of four expert groups, the Commission has identified two clear policy areas where initiatives might bring benefits to the European economy: asset management (Annex I, Section VI) and retail financial services.

Ladies and gentlemen, the Commission intends to play an active role in the Convention's work via the two designated Commissioners and my own direct, personal undertaking.