On the occasion of the roll-out of Airbus 321 on 3 March in Hamburg, Mr Bangemann, Member of the Commission of the European Communities, expressed his astonishment at American statements claiming that Airbus is responsible for the problems facing the American aircraft industry. "The entire world aircraft industry is going through a major economic crisis, for cyclical reasons and for reasons to do with the considerable reduction in resources earmarked for military expenditure" he said, adding that "the European Community has no intention of blaming its competitors for a situation which affects everyone." Mr Bangemann emphasized the Community's concern, given the very high levels of public support in all producer countries, to achieve a multilateral agreement to curb the direct and indirect support granted to the national aircraft industries. So far the attitude of the Community's partners in the Geneva negotiations has been disappointing. Mr Bangemann was also astonished that certain American statements seemed to be aimed at reopening a dispute closed to the satisfaction of both sides by the bilateral agreement signed in 1992. The agreement in question made it possible to organize rapid consultations at the request of one of the parties. Following the roll-out ceremony, Mr Bangemann met high-level representatives of the European aircraft industry to discuss the action to be taken on the Commission's April 1992 communication (COM(92)164). In it the Commission floated the idea of a system of insurance against fluctuations in the dollar exchange rate. * * *
