ARCHIVESHISTORIQUES
DELACOMMISSION
COLLECTION RELIEEDES
DOCUMENTS "COM"
COM(77)133
Vol.1977/0050

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amended byRegulation (EC, Euratom) No1700/2003 of22September 2003 (OJL243,
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Februar 1983 über die Freigabe der historischen Archive der Europäischen
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COMMISSION OFTHEEUROPEAN COMMUNITIES
COM(77)133final.
Brussels.4April1977*
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|-q§-ÏP>■>.F«1–4,Ë_e.rvr:–Ikj4**-5,'/^>t–Ia"*F°/\aA5 jt-–/^fA7
Proposal
COUNCILREGULATION(EEC)^
amending"Regulation(EEC)No557/76asregardstheexchangerate
to"beapplied,intheagricultural sector,fortheDanishkroner
(submittedfromtheCommissiontotheCouncil)
CCM(77)133final

EXPLANATORY MEMORANDUM
Council Regulation (EEC)Ko557/76of15March 1976 ontheexchange
rates applicable intheagricultural sector (seeOJNoL67of15March
1976 ,page l)aslast amended byRegulation (EEC)No651/77(OJNoL82,
31.3.1977 ,p.4)fixed arepresentative rate fortheDanish kroner ,which
corresponded tothecentral rate forthis currency .
On1stApril 1977 Denmark deoided tochange thecentral rate fortheir
currency ,devaluating by ^
Denmark asked theCommission totake thenecessary measures toadjust the
representative rate forthekroner ,toavoid introducing monetary
compensatory amounts (m.c.a .)forDenmark .
Asthegreen rate andthecentral rate forthekroner have sofarcoincided ,
nom.c.a .wasapplicable toDenmark ;furthermore that country was ,because
ofthis situation ,theonly Member State where theprice level corresponded
tothe "common level ".
Itisproposed tomeet theDanish request andalter therepresentative rate
forthekroner ,sothat itisthesame asthecentral rate .
»
Thefollowing table shows theeffects oftheproposed measures
Effects
former rate newrate deval .onprices onm.c.a .
in% in fo inpoints
Dkr1«0,126677 ua Dkr1«0,122877 ua
3 +3,093 '0
1u.a.-7f89407 Dkr 1u.a.-8,13822 Dkr

1,COUNCIL (REGULATIQN (EEC)No'
*.Oi• ♦
AmendingRegulation (EEC)No557/76%$regardstheexchangerat*tobe
•pplied,ia|heagriculturalsector,forthePanishkroner
THECOUNCILOFTHEEUROPEAN
COMMUNITIES .
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity,
HavingregardtoCouncilRegulationNo12Vonthe
valueoftheunitofaccountandtheexchangeratesto
beappliedforthepurposeofthecommonagricultural
policy('),aslastamendedbyRegulation(EEC)No
254.V75("),andinparticularArticleJthereof.
HavingregardtotheproposalfromtheCommission,
WhereasCouncilRegulation(EEC)No557/76ofIS
March|V~<>nntheexchangerates.to.beappliedin
agricultureandrepealingRegulation (EEC)No
475/75(>).j*!»>tamendedbyRegulation(EEC)No
65l/77arepresentativeratefortheDanish
"kroner:themovementofthiscurrencyindi­
catestl>nH•ibilitvoffixinganewrepresentative
ratewh:.f'.-.t--recloselytherealeconomicsitu­
ation:HASADOPTEDTHISREGULATION :
.Article/
InArticle2(I)ofRegulation(EEC)No5S7/76,point
(b)shallbereplacedby.thefollowing:
'(b)fortheDanishkronv*:
DkrI-0.122877unitofaccount*
Artide2
ThefollowingparagraphshallbeliddedtoArticle2of
Regulation(EEC)No557/76:
H8.Therepresentative rat<:fortheDanish
kronerasfixedbyRegulation(EEC)NoIfr
.shallbeapplicablefrom:6April1977*
vi'hercas;!uMonetaryCommitteewillbeconsulted;
whereas,inviewoftheurgencyolthematter,the
proposedmeasuresshouldbeadoptedunderthe
conditionslaiddowninArticle3(2)ofRegulationNo
12V.ArtnieJ
ThisRegulationsh.illenterintoforce6April1977
ThisRegulationshallbelandinginitsentiretyanddirectlyapplicableinallK|ember
Sotes.
DoneatLuxembourg,
forth*Council
ThtPrrsidcnt
f■n#ofprésentRégulation.
(')OJNoI»*.U»Iti.p.2553/62.
(•')OJNolX.I».t.IV7J.pl.
(»)OJNoI.«»7.I*.1.IV76.p.«.
HOJNoI82of31.3.1977,p.4

FINANCIAL STATEMENT
1.BUDGETLINSC0HCË1WED T790
2.ACTIONiProposed .CouncilRegulation,modifyingRegulation557/76insofarasit
relatestotherateofexchangetobeapplied ,intheagricultural sectorfor
theDanishCrown.
3.LEGALBASISTRegulation No.129
4.OBJECTIVESiAlignmentoftherepresentative rateoftheDanishCrowntothecentral
rateofthatcurrency.DATSI4.4.1977
5.FINANCIAL CONSEQUENCE
5.0EXPENDITURE
-CHARGEDTOTHEECBUDGET
NTERVENTIONS)
Effectofthedoublerate
5.XRECEIPTS
–OVINRES0URC2S OPT!!EEC
(LEviES/taaaœescHHXBBi
JHXXSGXXDCFORTHEMARKETING YEAR
(12monthg
+15Mu.aCURRENTFINANCIAL TEAR
±ZL±
+10Mua
negligibleFOLLOWING FINANCIAL TEAR
(7»)
+15Maa
TEAR•••••(»•••••
5.0.1PUJRIANNUALPATTERNOFEXPENDITURE +15Mua
5.1.1PLURIANNUALPATTERNOFRECEIPTS...TEARU.„
+15Mua
negligible80TEARR.R....
+15Mua
5.2METHODOFCALCULATION
Thepropositionvrillavoidtheintroduction ofMCA'sintradewithDenmark,
Bythismeansthefinancialeffeotislimitedtoanincreaseintheeffect
ofthedoublerateofabout3%onthevolumeofDanishexpenditureinthename
ofEAGGP-Guarantee .
Effecton12months:+15Mua
Effectonthe1977budget:(8/l2)+10Mua
6.0FINANCINGPOSSIBLEWITHCREDITSINSCRIBEDINRELEVANTCHAPTEROFCURRENTBUDGETT
6.1FINANCINGPOSSIBLEBYTRANSFERBBTRFEEHCHAPTERSOFCURRE.VTBUDGET? XKXNO
6.2NECESSITY FORASUPPLEMENTARY BUDGET? l)TES/MX
6.3CREDITSTOBEWRITTENINTOFUTUREBUDGETS?TES/KQC
COHXENTS T
l)Amounttoberecoveredintherectifyingletterfortitles6and7(Guarantee
sectionoftheEAGGP)inthesupplementary budget.