TO MEASURES WHICH , WHILE LIKELY TO ACHIEVE THE DESIRED RESULT , WILL NEVERTHELESS DISTURB THE OPERATION OF THE COMMON MARKET AS LITTLE AS POSSIBLE ; WHEREAS THE APPLICATION OF SUCH MEASURES SHOULD BE STRICTLY LIMITED IN SCOPE AND IN DURATION ;
WHEREAS ITALY SHOULD THEREFORE BE AUTHORIZED TEMPORARILY TO REQUIRE AN INTEREST-FREE BANK DEPOSIT TO BE LODGED WHEN CERTAIN GOODS ARE IMPORTED ;
WHEREAS IT IS NECESSARY TO ENSURE THAT THESE MEASURES WILL BE APPLIED FLEXIBLY AND SPEEDILY SO AS TO RESTRICT COMMUNITY TRADE AS LITTLE AS POSSIBLE ; WHEREAS ITALY AND THE COMMISSION SHOULD THEREFORE WORK TOGETHER AND FIND APPROPRIATE SOLUTIONS TO ANY DIFFICULTIES WHICH MAY ARISE IN THE APPLICATION OF THESE MEASURES ;
WHEREAS IN VIEW OF THE NEED TO REDRESS THE EXTERNAL FINANCIAL SITUATION , ITALY SHOULD BE AUTHORIZED TO CONTINUE , TEMPORARILY , THE MEASURES TAKEN IN JULY 1973 BY WAY OF DEROGATION FROM COMMUNITY OBLIGATIONS IN RESPECT OF THE FREE MOVEMENT OF CAPITAL ;
WHEREAS THE DEVELOPMENT OF THE ECONOMIC SITUATION IN ITALY SHOULD BE KEPT UNDER CLOSE REVIEW SO THAT THE MEASURES AUTHORIZED MAY BE AMENDED OR REPEALED SHOULD THE CIRCUMSTANCES UNDERLYING THEM NO LONGER OBTAIN WITH RESPECT EITHER TO THE PRODUCTS COVERED BY THEM OR TO THE AMOUNT OR DURATION OF THE DEPOSIT ;
WHEREAS THE OVERALL SITUATION AND THE PRACTICAL EFFECTS OF THE ITALIAN MEASURES SHOULD BE REVIEWED PERIODICALLY ;
WHEREAS , FOR AGRICULTURAL PRODUCTS SUBJECT TO A COMMON ORGANIZATION OF THE MARKET INVOLVING STRICT PRICE SUPPORT MECHANISMS AND FOR PRODUCTS PROCESSED THEREFROM , THE MEASURES AUTHORIZED RUN COUNTER TO THE VERY PRINCIPLES OF THE COMMON ORGANIZATION ; WHEREAS AN EXPIRY DATE FOR THESE MEASURES SHOULD THEREFORE BE FIXED WITHOUT DELAY ;
WHEREAS IN THE MEANTIME ALTERNATIVE SOLUTIONS WILL BE SOUGHT WITH ITALY AND THE OTHER MEMBER STATES , IT BEING UNDERSTOOD THAT THIS JOINT SEARCH CANNOT BE ALLOWED TO PREJUDICE THE COMMISSION'S RIGHT TO TAKE THE DECISIONS WHICH ARE ITS RESPONSIBILITY AT THE APPROPRIATE TIME ,
HAS ADOPTED THIS DECISION :
ARTICLE 1
THE ITALIAN REPUBLIC IS AUTHORIZED TO REQUIRE , UPON IMPORTATION OF GOODS LISTED IN THE ANNEX HERETO , A CERTIFICATE FROM A COMPETENT FINANCIAL INSTITUTION ATTESTING THAT AN INTEREST-FREE SIX-MONTH DEPOSIT HAS BEEN LODGED IN CASH WITH THE BANK OF ITALY ; THE AMOUNT OF THE DEPOSIT SHALL NOT EXCEED 50 % OF THE CIF VALUE OF THE GOODS .
THE ITALIAN REPUBLIC SHALL PUBLISH A LIST OF THE FINANCIAL INSTITUTIONS EMPOWERED TO ISSUE SUCH CERTIFICATES .
ARTICLE 2
THE ITALIAN REPUBLIC SHALL ENSURE THAT THE BANK DEPOSIT CERTIFICATES PROVIDED FOR IN ARTICLE 1 ARE ISSUED AUTOMATICALLY AND WITHOUT DELAY .
ARTICLE 3
THE ITALIAN REPUBLIC SHALL ENSURE THAT THE BANK OF ITALY RELEASES THE DEPOSIT WITHOUT FORMALITY AS SOON AS :
( A ) THE SIX-MONTH PERIOD EXPIRES ;
( B ) THE GOODS IN RESPECT OF WHICH THE DEPOSIT WAS LODGED ARE RE-EXPORTED AS THEY ARE OR AFTER REPROCESSING .
ARTICLE 4
SHOULD ANY DIFFICULTIES ARISE IN IMPLEMENTING THE MEASURES HEREBY AUTHORIZED , THE ITALIAN