TREATY AS ITS BASIS .
9 THE CIRCUMSTANCES OUTLINED ABOVE AND THEIR CONTINUING DEVELOPMENT MUST BE BORNE IN MIND IN CONSIDERING THE INTERVENTION MADE BY THE COUNCIL AND THE COMMISSION .
I - QUESTION ONE
10 THE FIRST QUESTION ASKS WHETHER REGULATION NO 974/71 IS VALID INSOFAR AS IT PROVIDES FOR THE COMPUTATION AND CHARGING OF COMPENSATORY AMOUNTS ON IMPORTS OF MILK PRODUCTS FROM BULGARIA .
( A ) THE LEGAL BASIS OF REGULATION ( EEC ) NO 974/71
11 THIS QUESTION CONCERNS, FIRST, WHETHER THE VALIDITY OF THE ABOVE REGULATION COULD BE AFFECTED BY THE FACT THAT IT IS BASED ON ARTICLE 103 OF THE TREATY, WHICH DOES NOT TOUCH ON THE COMMON AGRICULTURAL POLICY, THE LATTER BEING GOVERNED BY THE SPECIFIC PROVISIONS OF ARTICLES 38 TO 47 OF THE TREATY, AND THAT IN ANY CASE, THE SAID ARTICLE 103 AUTHORIZES ONLY THE ADOPTION OF CONJUNCTURAL MEASURES, WHICH THE DISPUTED MEASURES ARE NOT .
12 ARTICLE 40 OF THE TREATY STATES THAT MEMBER STATES SHALL BRING THE COMMON AGRICULTURAL POLICY INTO FORCE BY THE END OF THE TRANSITIONAL PERIOD AT THE LATEST AND THAT, IN ORDER TO ATTAIN THE OBJECTIVES SET OUT IN ARTICLE 39, A COMMON ORGANIZATION OF AGRICULTURAL MARKETS IS TO BE ESTABLISHED .
THE SAME ARTICLE PROVIDES THAT THIS COMMON ORGANIZATION MAY INCLUDE ANY MEASURES REQUIRED AND IN PARTICULAR REGULATION OF PRICES, AIDS FOR PRODUCTION AND MARKETING, STORAGE AND CARRY-OVER ARRANGEMENTS AND COMMON MACHINERY FOR STABILIZING IMPORTS AND EXPORTS .
BY VIRTUE OF THE THIRD PARAGRAPH OF ARTICLE 43 ( 2 ), THE COUNCIL SHALL ( ON A PROPOSAL FROM THE COMMISSION AND AFTER CONSULTING THE ASSEMBLY, ACTING, AFTER THE END OF THE SECOND STAGE OF THE TRANSITIONAL PERIOD, BY A QUALIFIED MAJORITY ) MAKE REGULATIONS, ISSUE DIRECTIVES, OR TAKE DECISIONS IN THIS SPHERE .
IT IS EVIDENT FROM THESE PROVISIONS THAT THE POWERS CONFERRED FOR IMPLEMENTING THE COMMON AGRICULTURAL POLICY DO NOT RELATE MERELY TO POSSIBLE STRUCTURAL MEASURES BUT EXTEND EQUALLY TO ANY IMMEDIATE SHORT-TERM ECONOMIC INTERVENTION REQUIRED IN THIS AREA OF PRODUCTION, AND THAT THE COUNCIL IS EMPOWERED TO RESORT TO THEM IN ACCORDANCE WITH THE DECISION-MAKING PROCEDURES THERE SET OUT .
13 ON THE OTHER HAND, ARTICLE 103 REFERS TO MEMBER STATES' CONJUNCTURAL POLICIES, WHICH THEY MUST REGARD AS A MATTER OF COMMON CONCERN .
CONSEQUENTLY IT DOES NOT RELATE TO THOSE AREAS ALREADY SUBJECT TO COMMON RULES, AS IS THE ORGANIZATION OF AGRICULTURAL MARKETS .
THE REAL OBJECT ENVISAGED BY ARTICLE 103 IS THE COORDINATION OF MEMBER STATES' CONJUNCTURAL POLICIES, AND, ACCORDING TO THE TERMS OF PARAGRAPH 2 OF THAT ARTICLE, THE ADOPTION OF COMMON MEASURES APPROPRIATE TO THE SITUATION .
14 THE FLOATING OF THE EXCHANGE RATES FOR THE GERMAN AND DUTCH CURRENCIES, DEEMED ESSENTIAL IF THE WAVE OF SPECULATIVE CAPITAL INTO THE FEDERAL REPUBLIC AND THE NETHERLANDS WAS TO BE CHECKED, IMPERILLED THE UNITY OF THE COMMON MARKET AND MADE MEASURES DESIGNED TO SAFEGUARD THE MACHINERY AND OBJECTIVES OF THE COMMON AGRICULTURAL POLICY IMPERATIVE .
THE INTRODUCTION OF COMPENSATORY AMOUNTS