OF THE REDUCTION OF DEBT PROVIDED FOR IN THE DECISION OF 25 JULY 1975 ARE TO BE MADE AT THE SAME RATE AS THAT USED FOR THE GRANT OF THE LOAN ITSELF , NAMELY LIT 100 = BFR 8 . IN SUCH CASES , THOSE TRANSACTIONS DO NOT FALL WITHIN THE HEADING OF PARTIAL TRANSFERS OF REMUNERATION . ' '
21 THE APPLICANT ALSO REFERS TO THE COMMISSION ' S REPLY GIVEN ON 29 JUNE 1972 TO A QUESTION RAISED BY MR BERMANI , A MEMBER OF THE EUROPEAN PARLIAMENT , AS FOLLOWS :
' ' THE PROBLEM RAISED BY THE HONOURABLE MEMBER HAS BEEN CONSIDERED BY THE COMMISSION .
THE CORRECT APPLICATION OF ARTICLE 9 OF THE IMPLEMENTING PROVISIONS FOR THE GRANT OF BUILDING LOANS TO OFFICIALS OF THE EUROPEAN COMMUNITIES REQUIRES FIXED OFFICIAL PARITIES . MOREOVER , THE DETERMINATION OF NEW OFFICIAL PARITIES , WHICH MUST BE EXPECTED SOON , WOULD BRING TO AN END THE DIFFICULTIES REFERRED TO BY THE HONOURABLE MEMBER .
FOR REPAYMENT OF THE LOANS , THE OPPORTUNITY TO CHOOSE THE CURRENCY ENSURES THAT THE BORROWER IS PROTECTED AGAINST POSSIBLE FLUCTUATIONS OF EXCHANGE RATES FROM TIME TO TIME .
THE COMMISSION IS , HOWEVER , CONSIDERING THE SPECIAL PROBLEMS WHICH HAVE ARISEN DURING THE TRANSITIONAL PERIOD THROUGH WHICH INTERNATIONAL MONETARY RELATIONS ARE AT PRESENT PASSING . ' '
22 IT APPEARS FROM THE FILE ON THE CASE THAT THE EXCHANGE RATE USED FOR THE CONVERSION OF THE AMOUNT OF THE LOAN INTO ITALIAN LIRE WAS THE PARITY NOTIFIED TO THE INTERNATIONAL MONETARY FUND IN 1965 WHICH , AT THE TIME OF THE LOAN , WAS THE REFERENCE PARITY DETERMINED IN ARTICLE 63 OF THE STAFF REGULATIONS . IN ESSENCE THE APPLICANT ' S VIEW IS THAT THAT SAME RATE MUST BE USED THROUGHOUT THE DURATION OF THE AGREEMENT FOR THE CONVERSION INTO BELGIAN FRANCS OF THE FUNDS TRANSFERRED TO THE COMMISSION TO REPAY THE LOAN BY MEANS OF THE MONTHLY INSTALMENTS PROVIDED FOR IN THE AGREEMENT .
23 THE COMMISSION CONTENDS ON THE OTHER HAND THAT THE EXCHANGE RATE TO BE USED FOR THAT CONVERSION MUST BE THE ONE FIXED AS A REFERENCE PARITY IN ARTICLE 63 OF THE STAFF REGULATIONS AND THAT THE MONTHLY TRANSFERS MAY BE MADE PURSUANT TO THE PROVISIONS OF ARTICLE 17 OF ANNEX VII TO THE STAFF REGULATIONS , WHICH ENABLES OFFICIALS REGULARLY TO TRANSFER PART OF THEIR EMOLUMENTS THROUGH THE INSTITUTION BY WHICH THEY ARE EMPLOYED IN THE CURRENCY OF CERTAIN OTHER MEMBER STATES .
24 IN PURSUANCE OF THAT INTERPRETATION OF THE AGREEMENT , THE COMMISSION CONVERTED THE AMOUNTS IN LIRE TRANSFERRED TO REPAY THE LOAN IN QUESTION INTO BELGIAN FRANCS ACCORDING TO THE PARITY REFERRED TO IN ARTICLE 63 OF THE STAFF REGULATIONS UNTIL THE ENTRY INTO FORCE OF REGULATIONS NOS 3085/78 AND 3086/78 . AS FROM 1 APRIL 1979 IT ALSO BASED ITS CALCULATIONS FOR CONVERSION OF THE MONTHLY PAYMENTS ON THE RATES LAID DOWN IN THE STAFF REGULATIONS , AS AMENDED BY REGULATIONS NOS