The Council meeting in Luxembourg has failed to make any progress on the creation of a Guarantee Fund for the film and audiovisual industry. The majority of delegations were in favour of the proposal and the Luxembourg delegation has undertaken to try to make progress under its presidency, which started on 1 July. It is proposed to create an Ecu 60 million fund from the Community budget to guarantee parts of loans to film producers and the audiovisual industry, to help to make inroads into trans-European and international markets.
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