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DOCUMENTS "COM"
COM(80)865
Vol.1980/0274

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COMMISSION OFTHEEUROPEAN COMMUNITIES
Vi">r--.
COM(80)865final/J\
>russ&l§/.15thDecember1980
<svduieeretanat«J :"!
Brussels,.15thDecember
•du /
> v
PROPOSAL FORACOUNCILDECISION
prolonging CouncilDecision76/402/EECof6april1976onthelevel
oftheinterestratesubsidy,providedforbyDirective 72/159/EECon
themodernisation offarms,tobeappliedinItaly
(presented bytheCommission totheCouncil)
COM(80)865final

Explanatory Memorandum
1.Followingtherequest,oftheItalianGoverranent andontheproposalof
■'theCocsziocion,thoCouncilhavingregard,tothehighinterestratefor
longtanaloano,initodocioionof6April1976onthelevelof..the"in–
',toreotratosubsidyprovidedforbyDirective72/l5?£3Conthecodami–
nationofforma(l),toboappliedinItaly(Dee.7^/402/EEC)(2),autho­
risedthoItalianGovernmenttoincreasetfie'Interest .rat®subsidytoJ
»)12%inthaareasdefinedwithinthemeaningoftheDirectiveon-
mountainandhillfarmingandfarmingincertainless-favouredareaa(3)j
..I"b)11%intheMezzogioraoregionandinthedepressedregionsvofthe
« • ,
CentreandNorthofItaly,otherthsathoareaareferredtounder*)
n-rA .. s,#
•i s .
a)$%intheotherregions.
2*'InadditiontheCouncildecidedinthisDecisionthattheexpenditure '
ofthoItalianGovernmentresultingfromthisincreasedlevelofinterest
subsidyrateshallbeeligibleaccordingtotheprovisionsofDirective
.72/159/EEC..^ _-7
3.TheabovementionedCouncilDecisionisapplicableuntil31December1930(4)
ThesituationonthecapitalmarketinItalyispractically unchangodwith
regardtothatoftheSpringof1976.Theinterestrateforlongterm
agricultural loanshasevenincreaood .slightly.TheItalianGovernaoiyt
consequently requestedaprolongation oftheCouncilDecisionwhich
Iappearscompletelyjustifiedhavingregardto"thissituation*
(1)OJnoL96,23.4.1976,p.1*
(2>OJno.L103,26.4.1976,p.39,>■
(3)OJnoL123,19.5.1975,p.1
(4)OJnoLl£17.I.1980' .p..29.

TH2 COUKCIL C?TH3 HJROPEâïT COKMUNITIES -
N . *
Eavingregard to .theTreaty establishing theEuropean Bconosdo Cossrcnity ,
>
Having regard toCouncil Mreotivo 72/159/22Cof April 1972 ontho
nodomioation offanso (l),endinparticular tb«second (subparagraph
of"Article 6(2),
Having regard totheproposal from theCommission ,
Whereas theItalian Government haaroqueoted theprolongation ©fth«
authorisation ofCouncil Decioion 76/402/E20
- .. • . :.
(2),as-last amended .
byCouncil Decision 80/30/CEE(3)»which isapplioabl® tmtil 31Decessber
1980 ; ,
Whereas thecurrent rate ofinterest forlong-term agricultural loans
i«15,6 -i>which is2,2%greater than th#rat# onwhich Council decision
76/402/EECvraabaeodj
Whereas aninterent rate of15,6$ andinterest rate subsidies ofrespec­
tively 9%i %and'12%will maanthat the "beneficiary iscalled upon
tobear ar~te ofinterest is ,excess oftheBd&ia'ua laid ,dowa "byDir^otiva
72/159/ESCj •/'...;-v •
EAS ADOPTED TES POLLOTOTS 'SSCISIOU s'."
1)OJîîo.L9^»23.4.1972 ,p.1
2)OJNo.L10Ô ,26.4.1976 ,p.39
3)OJîîo.h12,17.1.1980 ,p. .29

t
–2–,■ 4
■ . •
'• ''.'•:'. '...
t ».
. Article1 :, •
;j '•' ■ '
Artiol*4ofCouno11D«oisioa76/4O2/EZCi»<MB«»d®d&sfellemi
^Artlcla4 "•
,v\■'
TiiioDecisiosshallapplyuntil312>«o«mb«r1982"•.•
Article2
, «rhiaDecisioaieaddressedto.th®XteliaaRepublic*
'»A />I•'•
Dont»*t• F®**th«Coxjjaeil

FlNANCIAL STATEMENT
Date ;26.11 .1980
1.BUDGETMCA3ING :Article 810APPROBATIONS :
2.TITLE :Proposal foraCouncil Decision ontheprorogation ofDeoision No76/402/EEC
concerning thelevel ofinterest rate subsidy envisaged "byDirective
72/159/EEConthemodernisation offarms ,tobeapplied inItaly .
Lfr.AL HAsis :Article 6ofRegulation 729/70/EEC
4,AIMSOFPWOJFCCI :Prorogation fortwoyears funtil 31December1982Fofthehigh ,
rates ofinterest subsidy fixed byCounoil Deoision No76/402/EEC.
5.fINANCJAL IMPLICATIONS
5.0EXPENDITURE-CHARGEDTOTHEECBUDGET
(REFUNDS/INTERVENTIONS)
» ■-NATIONAL ADMINISTRATION
-OTHCR
5.1RECFIPTS
-OWNSOURC rS01THREC
(UEVIFCS/CUSTOMSDUTIES)
-NATIONAL
5.0.1ESTIMATED EXPENDITURE
5.1.1ESTIMATED RECEIPTSPERIODOF12MONTHS
19819.2MEUJLCURRENTW£JJ£IALYEAR
9,2
26,24
1982
9.2 MEUAFOLLOWING JISANCIAL YEARrîr^ANC
9,2
26,24
1983
9.2MEUA
5*2METHODOPCALCULATION 6
1.TheItalian implementing legislation hasnotchanged theceilings ofexpen– I
ditures fixed bytheDirectives . • jj
2.Asuraption :40c/oofexpenditures shall beincurred intheMezsogiorno andthuKj
according toCouncil Decision 80/666/EECshall.be reimbursed at-arate of
50°/°t'fck®remainder being reimbursed at25%•
3.Themain effect ,tobeachieved inrelation tothis proposal ,inrelation to
thebudget ,shall betoensure thetotal useofthefunds allocated tothis
measure bytheItalian Government .
I : ; 5
6.0CANTHEPROJECT BEFINANCED FROMAPPROBATIONS ENTEREDINTHERELEVANT CHAPTER OFTHECURRENÏ BUDGET ?
XX&NO
QCANTHEPROJFCCITTTUNANCtD BYTRANSFER BETWEEN CHAPTERS OFTHECURRENT BUDGET?
■MCX/NOj
rISASUPPLEMENTARY bUOGf.TBENECESSARY ?/JUC/NO
LwiiLii/LUHIUUÜUT rAL'HKUUIA ;lONiULNLi-t-jiARV?XU /N0
OBSERVATIONS