ARCHIVESHISTORIQUES
DELACOMMISSION
COLLECTION RELIEEDES
DOCUMENTS "COM"
COM(77)88
Vol.1977/0034

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COMMISSION OFTHEEUROPEANCOMMUNITIES
COM(77)88final.
Brussels,18March1977.
Propoaal
foraCouncilDecisionmodifyingCouncilDecision
no.76/402/EEContheleverofinterestrat.subsidy
providedbyDirective72/159/EEConthemodernisation
offarmstobeappliedinItaly
(submittedtotheCouncilbytheCommission)
CQM(77)88final.

EXPLANATORY ME.MORANIUM
OntheproposaloftheCommissionbasedontherequestoftheItalian
Government,theCouncilauthorizedbyhisdecisionofthe6thApril
1976(l)theItalianRepublictoraisethelevelofinterestratesubsidy,
providedforinthefirstsubparagraph ofArticle8paragraph2of
Directive72/l59/EEC(2)to11%fortheMezzogiornoandtheless-favoured
regionsofNorthernandCentralItaly,inoludingtheirmountainareas,
andto9i°f°r"theotherregions.
TheItalianGovernmenthasmadeanewrequestthistimetoraisethe
levelofinterestratesubsidyto12%inthemountainareasaslaid
.downbyDirective75/268/ESCofthe28thApril1975(3)explainingthat
becauseofthepresentlevelofinterestrate,asubsidyof11$leaves
aninterestratepayablebythebeneficiary ofaminimumof4?15
Suchahighrateofchargeonthebeneficiary corresponding todouble
theminimumlaiddownbytheDirectivewillresultinaverylarge
reductionofthepotentialforthemodernization offarmsinthese
particularly less-favoured regions.
(1)OJno.L108of24.4.1976,p.39
(2)OJno.L96of23.4.1972,p.1
(3)OJno.L128of19.5.1975,P.1

THECOUNCILOPTHEEUROPEANCOMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
Community,
«
HaviagregardtoCouncilDirective72/l5^/EEG©f17April1973ontJtt
Modernization offarms(l),andinparticularthesecondeabparagrapk
ofArticle8paragraph 2thereof,
Havingregardt^theproposalfromtheCommission,
Whereasthesecondsubparagraph ofArticle8paragraph2ofDirective
72/l55f/EECprovidesthatMemberStatesmaybeauthorized gsrwA
interestratasubsidiesexceeding5i°yifsuchactioniswaS-FSJatedlfy
.thesituationofthecapitalmarketintheMemberStates,a»dtaregno*
t*2theminimumratepayablebybeneficiaries laoerfcainragloaet
WhereastheItalianGovernmenthasrequestedauthori»atio»t®rai««tlx
leveloftheinterestratesubsidyto12$inthetaoust&iaArealaid
down*yI>ireotive75/273/EECof28April1975(2)|
Whereastheanticipatedinterestratesubsidyof12%laavwsaninterest
ratepayablebythebeneficiaryhigherthantheminimumchargeprescribed
VDirective72/159/EEC5
Whereastherequestedincreaseininterestsubsidyisoad«especially
necessarybythefactthathavingregardtoth«presentlevelpiinterest
rates,thissubsidyleavesarateofinterestpayablefythetaawfieiary
whichismorethantwicetheminimumrateforeseeninthe£>ire«rtiv»f
whichhaveverynegativeconsequences OBtheeffort®aadoforsederni~
zatieneffarmsintheseparticularly 1ess-favouredregions^
HASADOPTEDTHEFOLLOWING DECISION 1
(1)OJno.L96of23.4.1972,p.1
(2)OJno.L128of19.5.1975 »P.72

Article1
Article1oftheCouncilDecisionof6April"1976(l)onthelevelof
interestratesubsidyprovidedbyDirective72/159/EEConthemoderni­
zationoffarmstobeappliedinItalyismodifiedwitheffectfrom
7December1976asfollows:
"TheItalianRepublicisherebyauthorizedtoincreasetheinterest
ratesubsidyprovidedforinthefirstsubparagraph ofArticle8
paragraph2ofDirective72/159/EEC"to12%forthemountainareas
aslaiddownintheCouncil*sDirective75/268/EECof28April1975»
to11%fortheMezzogiornoandtheless-favoured regionsofNorthern
andCentralItalyandto9%fortheotherregions."
Article2
ThisDecisionisaddressedtotheItalianRepublio.
Doneat FortheCouncil
(1)OJno.108of26.4.1976.p.39

FINANCIAL S;ÏATEWÎSNT frcGSW&awsjwiaw
pato,1.3.1977
1.BUxi."'co:icjn.vs3I8100
2.ACTIf
76/£
tivt:Proposition forCouncilDecision,tomodifytheCouncil'sDecision
'EEC,relatingtothelevelofinterestratesubsidieslaiddowninDirec-
-7159/EEC,concerningthemodernisation offarms,tobeappliedinItaly.
1.iv;
to..,Article6ofCouncilRegulation 729/^0/EECor28April1970,relating
•financingofthecommonagricultural policy.
4.CT.CZ:.'■TS»DuetotherelativelyhighinterestratesofItalianloans,theGovern­
mentofItalywishtoencourageanincreasedinvestmentintheframeworkofthe
modernisationoffarmsbygrantinghigherinte-estratesubsidiestothosefarmer;
situatedinthelessfavouredareasassetoutinDirective 75/273/EEC.Neverthe­
lesstheminimumchargesaslaiddownintheDirectivetobebornebythebenefi-£TA**V-^g|fliPJJllfi/iltfhM■I II–lll-fl-TIIIII I1" ''""i r,1rTv.-^rprpsnprfp
5.FI.NASCUL CC:.-SECVaJC3
5.0
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(mv:;;s/i•jr-sr^T;c.s).■
-CHAflSi'aTOKATICS'ALAOTWISTO.
-CllABSraTO07HH1NATIONAL CROUPS
5.1PET7IPTS
-ívjjojcimciscftüees
(LLVIES/C'JUTO.'SIlL'TIGi)
-KATI0:!ALFORKARKLTIKC 7£AIicuimsrrFINANCIAL TEAS
29,2FCJ.LCHXHCmiAXClkl TEAS
(78)
5,5
29,2
YEAH
5.0.1PUJBIA.WJALfattlhnofexpenditure 5,5Mua
5.1.1PLURIJLWUM .FATTSR1I0FKECEirTCyi;ar39.Z9,..,.6.
7,3MuaYEAH
7,3Mua
Τ5.2UTTiiODOFCALCULATION
1.,TheproposedItalianlawhasnotchangedtheceilingsofexpenditurefixedfor
thosedirectives.Astheseceilingshavealreadybeentakenintoconsideration
inthecalculation oftheglobalestimatesforthedirective,thisproposedchan­
gecannotincreasethecoststoFE0GAasthesearealreadyestimatedatthemaxi­
mum.
2.Themainbudgetaryeffectofthispropositionwillbetoinsurethatthecosts
estimatedbytheItalianGovernmentServices ;areachieved.
* 1 1 1IHHI'WI II» I■"!–»
6.0FINANCINGF0T.SIBLEKITHCREDITSINSCRIBEDIl»HELEVA/.'TCHAPTEROFCURJO'TBUDGET?jrwsoJ
6.1fi:;a;;ci.n3fcssislj3*izkhshbzr.-:zs:iCrUPfStscfE'JXi."? XIDf'NO
6.2^X1^2:7*F0SASUFFLEJS.'TAHY BUDGET? , «ISSANO
τατοββληιτγ-ιι:;τοκιτ.'ωβι'^-ή?ΝοηβShfc/i;o
co:CB.TS 1