A4-0320/98

Proposal for a Council Regulation establishing agrimonetary arrangements for the euro (COM(98)0367 - C4-0406/98 - 98/0214(CNS))

The proposal was approved with the following amendments:

(Amendment 1)

Recital 2

>Original text>

Whereas in the present monetary situation, where the gaps between exchange rates and agricultural conversion rates are moderate, it is possible to establish a simpler agrimonetary system closer to the actual monetary situation; whereas consequently the conversion into the national currency of the non-participating Member States prices and amounts fixed in euros in legal instruments relating to the common agricultural policy may be done with the exchange rate of the euro in those currencies; whereas such a provision has the further advantage of considerably simplifying the management of the common agricultural policy;

>Text following EP vote>

Whereas in the present monetary situation, where the gaps between exchange rates and agricultural conversion rates are moderate, it is possible to establish a simpler agrimonetary system closer to the actual monetary situation; whereas consequently the conversion into the national currency of the non-participating Member States prices and amounts fixed in euros in legal instruments relating to the common agricultural policy may be done with the exchange rate of the euro in those currencies; whereas such a provision has the further advantage of considerably simplifying the management of the common agricultural policy

while enabling farm incomes to be protected from the consequences of currency fluctuations;

(Amendment 2)

Recital 4

>Original text>

Whereas, in cases of major currency revaluation with potential effects on prices and amounts other than direct aid, farm incomes may in certain conditions be reduced; whereas as a consequence provision could justifiably be made for temporary, degressive aid to offset the effects of revaluations, and keep pace with the development of agricultural prices in a manner compatible with the rules of the general economy;

>Text following EP vote>

Whereas, in cases of major currency revaluation with potential effects on prices and amounts other than direct aid, farm incomes may in certain conditions be reduced; whereas as a consequence provision could justifiably be made for temporary, degressive aid to offset the effects of revaluations, and keep pace with the development of agricultural prices in a manner compatible with the rules of the general economy

, and for setting up a procedure simple and rapid enough to prevent currency variations from leading to distortions of competition, even briefly, and disturbing the European agricultural markets;

(Amendment 4)

Recital 5a (new)

>Original text>

>Text following EP vote>

Whereas equal treatment among the farmers of the EU Member States is a fundamental principle of the CAP;

(Amendment 5)

Recital 7

>Original text>

Whereas in the longer term the agricultural sector must adjust, like other sectors of the economy, to the monetary reality; whereas consequently a cut-off date should be set for the compensation arrangements; the setting of such a cut-off date is part of the budgetary discipline.

>Text following EP vote>

Whereas in the longer term the agricultural sector must adjust, like other sectors of the economy, to the monetary reality,

while bearing in mind that the agriculture of the Member States is directly linked to the CAP; whereas consequently a cut-off date should be set for the compensation arrangements; whereas the setting of such a cut-off date is part of the budgetary discipline;

(Amendment 6)

Recital 9

>Original text>

Whereas a Member State that is not participating in economic and monetary union must have the option of making payments for expenditure resulting from legal instruments relating to the common agricultural policy in euros rather than in national currency; whereas steps should be taken to ensure that this option does not lead to any unjustified advantage for parties making or receiving payment;

>Text following EP vote>

Whereas a Member State that is not participating in economic and monetary union must have the option of making payments for expenditure resulting from legal instruments relating to the common agricultural policy in euros rather than in national currency; whereas steps should be taken to ensure that this option does not lead to any unjustified advantage

or disadvantage for parties making or receiving payment;

(Amendment 7)

Recital 10a (new)

>Original text>

>Text following EP vote>

Whereas this Regulation should be amended accordingly when the European Union is next enlarged;

(Amendment 8)

Article 4(6), last subparagraph

>Original text>

These criteria may be amended, in the light of experience, in accordance with the procedure laid down in Article 9.

>Text following EP vote>

These criteria may be amended, in the light of experience,

by the Council acting by a qualified majority.

Legislative resolution embodying Parliament's opinion on the proposal for a Council Regulation establishing agrimonetary arrangements for the euro (COM(98)0367 - C4-0406/98 - 98/0214(CNS))(Consultation procedure)

The European Parliament,

- having regard to the Commission proposal to the Council, COM(98)0367 - 98/0214(CNS) ((OJ C 224, 17.7.1998, p.15.)),

- having been consulted by the Council pursuant to Articles 42 and 43 of the EC Treaty (C4-0406/98),

- having regard to Rule 58 of its Rules of Procedure,

- having regard to the report of the Committee on Agriculture and Rural Development and the opinion of the Committee on Budgets (A4-0320/98),

1. Approves the Commission proposal, subject to Parliament's amendments;

2. Calls on the Council to notify Parliament should it intend to depart from the text approved by Parliament;

3. Asks to be consulted again should the Council intend to make substantial modifications to the Commission proposal;

4. Instructs its President to forward this opinion to the Council and Commission.