THE SIX NATION EUROPEAN PARLIAMENT BEGAN A WEEK-LONG SESSION IN STRASBOURG, NORTH-EASTERN FRANCE, YESTERDAY (MONDAY) WITH EAST-WEST TRADE AND FINANCE AS THE MAIN ITEMS ON THE AGENDA. THE PARLIAMENT HAS 142 MEMBERS REPRESENTING THE SIX NATIONS OF THE EUROPEAN ECONOMIC COMMUNITY.

THE OPENING DEBATE CONSIDERED PROPOSALS TO UNIFY THE EFFORT OF THE 'COMMON MARKET' IN TRADING WITH EASTERN EUROPE. A REPORT PRESENTED TO THE PARLIAMENT STATED THAT IT SHOULD URGE THE COMMON MARKET'S MINISTERIAL COUNCIL TO CO-ORDINATE THE COMMUNITY'S TRADING EFFORT AS A MEANS OF CUTTING DOWN WASTE IN THE EXPORT DRIVE TO THE EAST. AT PRESENT TRADE WITH THE EASTERN BLOC IS ON A BI-LATERAL BASIS.

HOWEVER, THE MOST CONTROVERSIAL ISSUE BEFORE THE PARLIAMENT WILL BE PLANS FOR CONSTITUTIONAL CHANGES WITHIN THE COMMON MARKET. THE PROPOSALS PROVIDE FOR A GRADUAL BUILDING UP OF THE COMMUNITY'S OWN FINANCIAL RESOURCES THROUGH PAYMENT OF CUSTOMS DUTIES INTO A COMMON FUND, INSTEAD OF NATIONAL EXCHEQUERS.

AT PRESENT ALL THE COMMUNITY'S INSTITUTIONS ARE FINANCED THROUGH CONTRIBUTIONS OF THE MEMBER STATES, INDIRECTLY CONTROLLED BY THE NATIONAL PARLIAMENTS. THE PROPOSED 'EUROPEAN TREASURY' WOULD FINANCE THE COMMUNITY'S ACTIVITIES AND ITS COMMON FARM POLICY, AND THE EUROPEAN PARLIAMENT WOULD CONTROL THE 'FEDERAL BUDGET'.

FRANCE HAS ALREADY EXPRESSED DISAPPROVAL OF THE PLAN. THE FRENCH AUTHORITIES SAY THAT TO GIVE SUPRA-NATIONAL POWERS TO THE EUROPEAN PARLIAMENT WOULD MAKE LITTLE SENSE AS LONG AS THE COMMUNITY LACKS A EUROPEAN POLITICAL EXECUTIVE.