As I outlined to the House on 30 January 1997, the European Commission submitted, in September, 1994, a proposal for a Council directive on harmonisation of the main provisions concerning export credit insurance for transactions with medium and long-term cover. While the principal of harmonisation was supported by all member states, there was strong opposition to the manner through which the Commission proposed this harmonisation should be effected, and, in late 1995, the issue was considered by the General Affairs Council, who requested the Commission to review their proposal.