14 October Ecofin

FINANCE ministers finally laid to rest the proposal from Commission President Jacques Santer for extra funding for five high-speed rail Trans-European networks (TENs). After an acrimonious debate, the Irish presidency reiterated the conclusions of a working group of ministers' personal representatives that no majority could be found to approve a revision of the EU's 1998-99 financial perspectives. Belgium and Luxembourg came to the support of Santer, while the Netherlands stuck to its view that extra money for TENs could be found within the existing budget but notfrom expanding it. A solid group of ministers led by the Netherlands, Germany, France, the UK and Italy would not agree to revise the financial perspectives in any circumstances whatsoever, so Santer's proposal was shelved.