ARCHIVESHISTORIQUES
DELACOMMISSION
COLLECTION RELIEEDES
DOCUMENTS "COM"
COM(81)740
Vol.1981/0212

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COMMISSION OFTHEEUROPEAN COMMUNITIES
COM(81)740 final
Brussels,24thNovember 1981
Ï'
PROPOSAL FORACOUNCILREGULATION (EEC)
amending/asregardstheItalianlira,Regulation (EEC)No
878/77ontheexchangeratestobeappliedinagriculture
(:■i ■.:JΙ- :■ ■^
(presented bytheCommission totheCouncil)
V.•v,>:
•iVT.,
lV
COM(81)740final

EXPLANATORY Iffl^RAJtroTJM
1.Witheffect0115October198l»centralrateswerealteredwithin
theEuropean Monetary System.
TheItalianlirawasdevaluedby3%againstcurrencies whichremained
stable. i
I
2.Thisproposal envisages a2.5%alteration intherepresentative rate
fortheItalianliraattheItaliangovernment 'srequest.
Thisdevaluation istotakeeffectatonceinthemilkandmilkproducts ,
beefandveal,pigmeatandwinesectors.
In«rdertoavoidfragmentation ofgreenrates,whichwouldmean-that
theagricultural ruleswerefurtherfromtheactualmonetary situation
ratherthancloser,.provision shouldbemadeforthenewratetoapply
intheothersectorsalso,butatthebeginning ofthemarketing years.
3.Theeffectsofthisdevaluation areshowninthefollowing tables
Representative rate DevaluationSEffect
Old New onpricesin
national
currencyonmonetary
compensatory
amounts
100lira° 100lira=
0.0814996 Ecu O.O794913 Ecu2.464%+2.526%-2.6
1Ecu■1227.00lira 1Ecu-I258.OO
V

Froposal fora
COUNCIL REGULATION (EEC )No
amending ,asregards theItalian lira ,Regulation (EEC )No878/77onthe
exchange rates tobeapplied inagriculture .
THE COUNCIL OFTHE EUROPEAN COMMUNITIES ,
Having regard totheTreaty establishing theEuropean Economic Community ,
Having regard toCouncil Regulation No129 onthe value ofthe unit ofaccount
and theexchange rates tobeapplied for thepurposes ofthecommon
agricultural policy (l),aslast amended byRegulation (EEC )No2543 /73 (2),
and inparticular Article 3thereof ,
Having regard totheproposal from theCommission ,
Whereas Council Regulation (EEC )No878/77of26April 1977 ontheexchange
rates tobeapplied inagriculture (3),aslast amended byRegulation (EEC)No
2923 /81 (4),fixed representative rates for ,among others ,theItalian lira ;
whereas itappears advisable tofixinrespect ofthat currency anew
representative rate more closely reflecting present economic reality ;
\
Whereas itisnecessary toprovide fortheimmediate entry into effect ofthis
new representative rate ,while atthe same t.-'?3taking account ofthespecial
needs insome sectors ;
Whereas theMonetary Committee will beconst' ted ;whereas inview ofthe
urgency involved ,themeasures envisaged should beadopted inaccordance with
theconditions laid down inArticle 3(2 )oflegula'tion No129 ,
\
(1)OJNo 106 ,20.10.1962 ,p.2553 /62
(2)OJNoL263 ,19-9-1973 ,P-1
(3)OJNoL106 ,29.41977 ,p.27
(4)OJNoL291 ,12.10,1981 ,p.l

HAS ADOPTED THIS REGULATION ;-2-
Article 1
Annex VIItoRegulation (EEC)No878/77ishereby replaced bytheAnnex to
this Regulation .
Article 2
This Regulation shall enter into force ontheday ofitspublication inthe
Official Journal oftheEuropean Communities .
This Regulation shall bebinding initsentirety anddirectly applicable in
all Member States .
Done atBrussels . For the Council
The President

ANNEX VII
ITALY
1.IECU =1,258.00 Italian lire .
This rate shall apply with effect from :
-30November 1981 ,forthemilk andmilk products ,beef andveal ,pigmeat
andwine sectors ;however for thewine sector ,other dates may befixed
fordistillation operations and for the aid referred toinArticles 14
and14aofRegulation (EEC )No337/79-
1January 1982 for theFishery products sector
-Thebeginning ofthe1982 /83marketing year fortheother products for
which there exists amarketing year .
30November 1981 inallother cases .
2.Until the dates given inpoint 1,the following rate shall apply :
1ECU =1,157*79 Italian lire for the fishery products sector
1ECU =1,227.00 Italian lire inall other cases .

FINANCIAL STATEMENT
Date19.11.1981
1.BUDGET HEADING :I982–Titles 1and .2andchapter 100APPROPRIATIONS : 3MECU
2.TITLE :Council Regulation amending asregards theItalian lira ,Regulation (EEC)no070/77ontheexchange rates tobeapplied inagriculture .
h
3.LEGAL BASIS :Council Reg.129,aslast amended byReg.(EEC)no2543/73
4,AIMSOFPROJECT :2.6point reduction inmcas applicable totheItalian lira bydeva­luing therepresentative rate fortheItalian lira from 30.11 .1981 inthemilk an1
milk product ^beef andveal ,pigmeat andwine sectors ,andfrom thebeginning ofthe1982/83marketing year fortheother sectors .
5..FINANCIAL IMPLICATIONS ■
5.0 EXPENDITURE
-CHARGED TOTHE ECBUDGET
(REFUNDS /INTERVENTIONS )
-NATIONAL ADMINISTRATION
-OTHER
S.I RECEIPTS •
-OWN RESOURCES -OF'THE EC
(LEVIES /CUSTOMS DUTIES )
-NATIONALPERIOD OF12MONTHS
-53
+35
1983vmMCURRENT FINANCIAL YEAR
1
token entry
token -entryFOLLOWING FINANCIAL YEAR
(A? )
-64
+4
5.0.1 ESTIMATED EXPENDITURE
5.1.1 ESTIMATED RECEIPTS-53
+35
5.2METHOD OFCALCULATION Expenditure (inECU)
.Effect onmcaexpenditure
•Variation inrefunds asreduction
«inMcas reduce refunds
.Effect ofdual conversion rate - .
Total effect onexpenditures
Receipts
•Effect ofdual conversion rate onsugar levies
•Increase inlevies following reduction inmcas
Total effect onreceipts1232 .
-83
+2
.+ .17
-64
+1.5
+2.5
+4U)12months
104
4
£7
-53
+
+12
23
35
6.0 CANTHEPROJECT BEFINANCED FROM APPROPRIATIONS ENTERED INTHERELEVANT CHAPTER OFTHECURRENT BUDGET
YES/W^.
6.1
6.2
6.3 WILL FUTURE BUDGET APPROPRIATIONS BENECESSARY ?
YES/NO
OBSERVATIONS :(l)Itshould benoted thatthiseffect isassessed bycomparison with
thedraft 1982budget .Theeffect ofthemeasure proper onreceipts amounts tos
.Effect ofdual conversion rate (mECU) 1982 12months
onsugar levies - ' _ ' .-.
'T • . "*"5 +Id
•Increase inlevies following reduction
inmcas „
Total effect onreceipts 4.1/1. " +^+14 +35