Emil StoyanovMember of the European Parliament

Today, at its meeting the Committee on Culture of the European Parliament adopted the report of Marie-Thérèse Sanchez-Schmid "Unlocking the potential of cultural and creative industries". Mr. Emil Stoyanov made two amendments to the report. The first amendment dealt with the creation of new and innovative financial instruments, both on European and national level, which should be adapted to the specific needs of these industries, was adopted by large majority.

The second proposal, inviting the European Commission and Member States to discuss the possibilities of establishing a European and national funds aiming to subsidize these industries generated debate and very few votes were needed in order to adopt this amendment.

Mr Stoyanov commented "I think the creation of this fund is extremely important for future support and development of cultural and creative industries because due to their commercial nature they need special funding, which banks can not provide. I am convinced that in near future this idea will mature and will be accepted."