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DOCUMENTS "COM"
COM (79)729
Vol.1979/0245

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COMMISSION OFTHE EUROPEAN COMMUNITIES
COM(79)729 final
\
Brussels /3rd December 1979
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PROPOSAL FOR ACOUNCIL REGULATION (EEC)
AMENDING ,WITH RESPECT TOTHE DANISH KRONE /
REGULATION (EEC)No878/77 ONTHE EXCHANGE
RATES TOBEAPPLIED INAGRICULTURE
(presented bythe Commission tothe Council )
C0M(79 >729final

EXPLANATORY MEMORANDUM
1.On30November 1979thecentralrateoftheDanishkronehasdevalued;
thedevaluation percentage is: '
5%Inrelation toothercurrencies
4.628XinrelationtotheEcu.
2.Theconsequence withregardtoagriculture would,intheory,be
theintroduction ofMCA'sforDenmarkbasedonamonetary gapof4.9
(3.4ifaccountistakenofthemarginoftolerance).
Inordertoavoidsuchaconsequence ,therepresentative rateofthe
kronemustbedevalued accordingly .
Theeffectsofsuchadevaluation aresetoutinthefollowing table:
Représenta
Previous Itiverates
NewDevaluation Effect
onpricesin
national currency:s
IonMCA's
1DKR=0,135760Ecu
1Ecu=7,36594 DKR1DKR=0,129477Ecu
1Ecu=7,72336 DKR4.628%
»*4.852* 0

COUNCIL REGULATION (EEC)
amending ,with respect tothe Danish krone ,Regulation (EEC)
No878/77onthe exchange rates tobeapplied inagriculture
THE COUNCIL OFTHE EUROPEAN COMMUNITIES ,
Having regard totheTreaty establishing the European Economic Community ,'
Having regard toCouncil Regulation No129 onthe value oftheunit ofaccount
andthe exchange rates to "beapplied forthe purposes ofthe common
agricultural policy (1),aslast amended byRegulation (EEC)No2543/73(2),
andinparticular Article 3thereof ,
Having regard totheproposal from the Commission , "
*. • /
Whereas the representative rates currently applicable we'refixed byCouncil
Regulation (EEC)No878/77of26April 1977 onthe exchange rates tobeapplied
inagriculture (3),aslast amended byRegulation (EEC)No2139/79(4);
Whereas with effect from 30November 1979 achange inthecentral rate ofthe
Danish krone has occurred within the European monetary system ;whereas this
change theoretically involvesthe introduction ofmonetary compensatory amounts
inDenmark ;whereas itispossible toavoid this effect bymaking acorresponding
change intherepresentative rate ofthe Danish krone ;
f
Whereas this rate must beadopted immediately inorder toavoid themtroduction -
ofmonetary compensatory amountsjin Denmark ;
Whereas theMonetary Committee wi11beconsulted and whereas ,inview ofthe
urgency ,itisnecessary toadopt the measures envisaged under theconditions
provided forinArticle 3(2)ofRegulation No129,'
' . tt-à*
(1)OJNo 106,30,10»1962 ,p.2553/62
(2)OJNoL263,19,9,1973 ,p* 1
(3)OJNoL106,29»4„1977 >p„ 27
(4)OJNoL246,29,9,1979 ,p* 76
f

HAS ADOPTED THIS REGULATION
Article 1
Thefollowing subparagraph isadded toparagraph 8ofArticle 2aof
Regulation (EEC)No878/77:
"This representative rate isreplaced bythat of
1Danish krone =0.129477 Ecu
■with effect from
-1January 1980 1nthefisheries sector
-5December 1979 inallother cases ".
Article 2
This Regulation shall enter Into force on5December 1979.
This Regulation shall bebinding initsentirety anddirectly applicable
inall Member States . ~ -
Done atBrussels / •
* '
For the Council

BIraliLρSra
•21
.~3fa\G'
Λ DATE »30.11.1979
1.LIGUE IIUOGETAIRE -Titres 6et7 entons «10.956.636 MuceJ
t.iiiiiiuit oci*MESURE !Règlement (CEE)n° /79duConseil <iû 1979
modifiant ,en.ee quiconcerne lacouronne danoise ,lerèglement (CEE)n°878/77 ,relatif auxtaux dechange àappliquer dans lesecteur agricole
Ï.B«SE JUBUIOUE :art.3du R/129/62
t.OBJECTIFS DEl*MESURE s
Modification dutaux représentatif delacouronne danoise afin d'éviter l'instau­
ration demontants compensatoires monétaires .suite àlamodification dutaux pivo
delacouronne danoise .
s.ÎMICEUUS FINANCIERES --
s.o »muses «u CM**«
*OUÛUCGE T0£S C€ • «
(«esTriuTi:\s /if.Te«vtrjTîOfis )
*Trrwr .
5*1«CCTT6S
•»ESSOo#CES P*C*9ÎS DCS CC
<P«EUvE!lî%TS /C'CIT$ OC OOUANC )
•«sua ie Hwcgn .pteictE oc12ko!s excRcicc €NCOURS (79)rxÉACice SUIVANT «n y
♦8,3 Muce
Pallié(1)
I
••
(1)♦8-3 Muce
·· 0
5.0.1 revisions ocs ooewses *
5.Î.1 '«CVlSIC'iS oes «ECCÎTCSΓ 1980 1981 1982
♦8,3
p.m.♦8,3
p.m.♦8,3
Ρ·η·
5.2 ROSE »ECM.CUL !
L'impact sur lesdépenses est dûàl'incidence dudouble taux deconversion .
Dépenses danoises pour lebudget 1980 :626,6 Muce
Coefficient dudouble taux deconversion avant dévaluation :0,9964
Coefficient dudouble taux deversion après dévaluation :1,0095
6.0 FINAMCElcNT POSSIBLE PAR CREDITS INSCRITS AUCHAPITRE CONCERNE DUBUDGET ENCOURS t'EXECUTlOM JtXlX'MH
».1 FINANCEMENT P0SSI81E -PAR VIREMENT ENTRE CHAPITRES BU0U0GET ENCOURS D'EXECUTION 0UI/X.XX
5.?KECESSIT6 0*U& BUOGCT SUPPU*EMTM « «X/NON
6.3CREDITS 4INSCRIBE OANSUSBUDGETS fUTuftS ^' V Our&tfX
TesERvJnofis i
(1)Compte tenu desdélais depaiement IMneldence financier decette mesure
surl'exercice 1979 estnégligeable .