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Europe
France STILL Thinks They’re "Special"
2004-05-19
Severely EFL
Press Briefing by Margot Wallström, European Commissioner for the Environment, Brussels, 18 May 2004
*snip*
The EU is determined to take the lead and reduce our greenhouse gas emissions. We are all in this together - Member States must support each other in their efforts to reduce emissions and each of them knows that for the single EU wide trading system to work they must all follow the same rules and criteria. Blah, blah, blah...
Last year the Member States took the stupid unanimous decision to give up their sovereignty a central role to Emissions Trading as the key instrument for the EU to implement its Kyoto Protocol obligations. They made this choice because emissions trading is the most cost effective way of meeting our international target of an 8% reduction in EU emissions. They also agreed that the Commission would act as a dictator "referee" to ensure that there is fair play between the Member States.
*snip*
As you probably know, EU-15 Member States were required to submit their plans by 31 March and EU-10 by 1 May. To date we have received 12 plans. What, you mean some countries weren’t obedient to their masters didn’t turn them in? For shame!
*snip*
The total quantity of allowances is the key decision. My first impression is that many of the notified plans go for a rather high quantity of allowances. And you were surprised about this why, exactly? This is entirely predictable disappointing and makes the Commission’s scrutiny of plans all the more important.

All markets require some scarcity to function. [Not scarcity imposed by the government, twit.] The perceived lack of scarcity is being clearly reflected in the market price of allowances that are already being traded. The Commission has noted that the price of allowances has fallen from €13 in January to around €7 now.

Too many allowances, and a resulting low price of allowances, will create little incentive to be obedient socialists change behaviour. In order to meet our Kyoto obligations we need to see investments in emission reductions so we need to jack up prices in our little shell game a meaningful price signal for CO2 emissions.
*snip*
Therefore I have decided to think about holding a committee meeting to plan a meeting, etc. begin preparations for infringement proceedings against those EU-15 Member States which have not yet submitted their plans.

That would be Belgium, Greece, France, Italy, Portugal, and Spain. Our "friends" the Frogs didn’t turn in their homework on time? I’m shocked! (NOT) Plus c’est change, plus c’est meme chÃŽse
Posted by:Barbara Skolaut

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