ARCHIVESHISTORIQUES
DELACOMMISSION
COLLECTION RELIEEDES
DOCUMENTS "COM"
COM(82)747
Vol.1982/0228

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COMMISSION OFTHEEUROPEAN COMMUNITIES
?
,COM(82)747 final
Brussels-23November 1982
Proposalfora
COUNCILDECISION
concerning theextensionofthemedium-term financialassistance
(submittedtotheCouncilbytheCommission)--.-■;.
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C0M(82)747final

cXPLANA i03YCicWOr.AiwU'i
Article 1ofdecision 71/143/EECof22March1971settingup
machineryformedium-term financialassistance whichwasmostrecently
modifiedbythedecision80/1264/CEEof15December1980stipulates in
§2thattheobligation resultingfromthismechanismisvaliduntil
ι
31December1982unlessthedefinitive stageoftheEMSwhichinvolves
theconsolidation ofallCommunitycreditmechanisms issetupbefore
thatdate.
Inviewofthefactthatthedateoftransition tothedefinitive
stageremainsuncomplete,theCommission proposesthattheCouncildecides
atitssessionof17December1982toextendthevalidityofthismechanism
bVtwoyearsto31December1984oruntiltheestablishment ofthefinal
phaseoftheEMSshouldthatoccurbeforethatdate.
*

Proposalfora
COUNCILDECISION
COi.'CtRNIfvG THEEXTENSION OFTHEMEDIUM-TERM FINANCIAL ASSISTANCE
TheCounciloftheEuropeanCommunities,
iiavingregardtothetreatyestablishing theEuropeanEconomicCommunityand
inparticularArticles103and108thereof;
Having ,?gardtotheproposalfrom.theCommission which,tothisend,has
consultstheMonetaryCommittee;
WhereasCouncilDecision 71/143/EECof21March1971,setupmachineryfor
medium-term financialassistancevalidforaninitialperiodoffouryearsfrom
1stJanuary1972(1);
'whereasthis_machinery wasregularly renewed,and,onthelastoccasion,extended
fortwoyearsuntil31December1982byCouncildecisionof15December1980(2);
Where£%itisappropriate thattheMemberStates'obligations remaininforce
untilthedefinitive stageoftheEuropeanmonetarysystemisestablished;
HASADOPTEDTHISDECISION :
Article 1
CouncilDecision 71/143/EECof22March1971concerning thesettingupmachinery
formediumfinancialassistancelastmodifiedbydecision80/1264/EECof15
December1980isamendedasfollows :
Paragraph 2ofArticle 1isreplacedbythefollowingtext:
"Thisobligationshallapplyuntil31December1984,unlessthedefinitive
phaseoftheEMSissetupbeforethisdate".
Article 2
ThisdecisionisaddressedtotheMembersStates.
DoneatBrussels,
TheCouncil
(1)0.J,L*'3of27.3.1971 ..
(2)Û.J.L375/6of31.12.1980 .
ii