Council Regulation (EEC) No 878/77 of 26 April 1977 on the exchange rates to be applied in agriculture
Official Journal L 106 , 29/04/1977 P. 0027 - 0029
Greek special edition: Chapter 03 Volume 18 P. 0027
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COUNCIL REGULATION ( EEC ) NO 878/77
OF 26 APRIL 1977
ON THE EXCHANGE RATES TO BE APPLIED IN AGRICULTURE
THE COUNCIL OF THE EUROPEAN COMMUNITIES ,
HAVING REGARD TO THE TREATY ESTABLISHING THE EUROPEAN ECONOMIC COMMUNITY , AND IN PARTICULAR ARTICLES 28 , 43 AND 235 THEREOF ,
HAVING REGARD TO COUNCIL REGULATION NO 129 ON THE VALUE OF THE UNIT OF ACCOUNT AND THE EXCHANGE RATES TO BE APPLIED FOR THE PURPOSES OF THE COMMON AGRICULTURAL POLICY ( 1 ) , AS LAST AMENDED BY REGULATION ( EEC ) NO 2543/73 ( 2 ) , AND IN PARTICULAR ARTICLE 3 THEREOF ,
HAVING REGARD TO THE PROPOSAL FROM THE COMMISSION ,
HAVING REGARD TO THE OPINION OF THE EUROPEAN PARLIAMENT ( 3 ) ,
HAVING REGARD TO THE OPINION OF THE ECONOMIC AND SOCIAL COMMITTEE ( 4 ) ,
WHEREAS THE SITUATION REFERRED TO IN ARTICLE 3 ( 1 ) OF REGULATION NO 129 , IN RESPECT OF WHICH DEROGATIONS MAY BE MADE FROM THE PRINCIPLE OF USING PARITIES FOR CONVERTING ONE CURRENCY INTO ANOTHER , NOW OBTAINS IN VARIOUS MEMBER STATES ;
WHEREAS IT HAS BEEN POSSIBLE TO SOLVE THE PROBLEMS POSED BY SUCH A SITUATION BY APPLYING MONETARY COMPENSATORY AMOUNTS AND REPRESENTATIVE CONVERSION RATES FOR THE PURPOSES OF THE COMMON AGRICULTURAL POLICY ; WHEREAS THIS ARRANGEMENT LEADS TO DIVERGENT PRICE LEVELS IN THE MEMBER STATES CONCERNED ; WHEREAS , HOWEVER , IN ORDER TO PREVENT THE MAINTENANCE OF UNCHANGED RATES FOR THE COMMON AGRICULTURAL POLICY FROM LEADING TO AN INCREASE IN THE DIFFERENCE BETWEEN PRICE LEVELS EXPRESSED IN NATIONAL CURRENCIES WHEN PRICES ARE INCREASED AND IN VIEW OF THE FACT THAT CERTAIN ADJUSTMENTS MAY BE MADE TO THE RATES TO ADAPT THEM TO THE REAL ECONOMIC SITUATION IN THE MEMBER STATES , REPRESENTATIVE RATES FOR THE CURRENCIES OF THE MEMBER STATES CONCERNED SHOULD BE FIXED AT LEVELS MORE CLOSELY RELATED TO THE ACTUAL ECONOMIC SITUATION ; WHEREAS , AT THE SAME TIME , ALL THE REPRESENTATIVE RATES SHOULD BE REPUBLISHED IN A NEW TEXT ;
WHEREAS , HOWEVER , THE IMPACT OF THIS MEASURE ON THE ECONOMIES OF THE MEMBER STATES CONCERNED SHOULD BE MODERATED AS FAR AS POSSIBLE ; WHEREAS , FOR THIS REASON , THE NEW RATES SHOULD BE APPLIED WITHIN A REASONABLE PERIOD , COINCIDING IF POSSIBLE WITH THE BEGINNING OF THE MARKETING YEAR OR WITH A CHANGE IN PRICES ;
WHEREAS FIXING A REPRESENTATIVE RATE LEADS TO AN ADJUSTMENT OF AGRICULTURAL PRICES ; WHEREAS THE PROBLEMS RAISED BY THE MODIFICATION OF EXCHANGE RATES ARE THE SUBJECT OF COMMUNITY PROVISIONS , IN PARTICULAR COUNCIL REGULATION ( EEC ) NO 1134/68 OF 30 JULY 1968 LAYING DOWN RULES FOR THE IMPLEMENTATION OF REGULATION ( EEC ) NO 653/68 ON CONDITIONS FOR ALTERATIONS TO THE VALUE OF