Euro plans to revive Chunnel
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from our Brussels correspondent
PLANS to revive the recently scrapped Channel Tunnel project were approved by the European Parliament meeting in Strasbourg this week. It was decided to ask the EEC to help finance construction of the Chunnel and so spread the financial burden to countries other than Britain and France.
Although the British Government has officially abandoned the project, in technical terms work has only been suspended for an indefinite period. Both England and France are planning to leave the work done so far in a suitable stage to allow further developments to take place.
British Conservative James H ill, chairman of the regional and transport committee of the European Parliament, urged the Commission to study ways of collecting the Chunnel's cost. A Parliamentary resolution called on Britain and France to request the guidance and help of the EEC and the European Investment Bank.
A spokesman for the bank later said that, although the Chunnel is the kind of project in which the bank was interested, the largest loan they would be able to offer would be less than 10 per cent of the estimated total cost. Other suggestions for keeping the project alive have included the idea of offering shares in small denominations in all the member countries of the EEC.