CELEX: 31998R0621
Language: en
Date: 1998-03-18 00:00:00
Title: Commission Regulation (EC) No 621/98 of 18 March 1998 fixing the agricultural conversion rate for the Greek drachma

19. 3. 98             EN               Official Journal of the European Communities                                 L 82/41
                                    COMMISSION REGULATION (EC) No 621/98
                                                     of 18 March 1998
                            fixing the agricultural conversion rate for the Greek drachma
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                       of the operative event applicable for the amount
Having regard to the Treaty establishing the European             concerned exceeds four points; whereas, in that event, the
Community,                                                        agricultural conversion rates fixed in advance are to be
                                                                  brought more closely into line with the rates in force up
Having regard to Council Regulation (EEC) No 3813/92              to the level of a gap of four points with those rates;
of 28 December 1992 on the unit of account and the                whereas the rates which are to replace the agricultural
conversion rates to be applied for the purposes of the            conversion rates fixed in advance should be specified;
common agricultural policy (1), as last amended by Regu-
lation (EC) No 150/95 (2), and in particular Article 3(2)         Whereas the measures provided for in this Regulation are
thereof,                                                          in accordance with the opinions of the Management
                                                                  Committees concerned,
Whereas the agricultural conversion rates were fixed in
Commission Regulation (EC) No 600/98 (3);
                                                                  HAS ADOPTED THIS REGULATION:
Whereas the central rates for the Greek drachma and the
Irish pound were adjusted on 14 March 1998; whereas the
rates for 16 to 18 March 1998 show there is a significant                                 Article 1
monetary gap affecting the Greek drachma; whereas, with           Without prejudice to Article 4 and in particular the
a view to preventing risks of market distortion, an agricul-      second subparagraph of paragraph 1 of Regulation (EEC)
tural conversion rate which is closer to the economic facts       No 3813/92, the agricultural conversion rate for the
should accordingly be fixed for the Greek drachma;                Greek drachma is hereby fixed at 343,057.
Whereas Article 15(2) of Commission Regulation (EEC)              The agricultural conversion rate for the Greek drachma
No 1068/93 of 30 April 1993 on detailed rules for deter-          fixed in advance during the period 16 to 18 March 1998 is
mining and applying the agricultural conversion rates (4),        hereby replaced by 343,057.
as last amended by Regulation (EC) No 1482/96 (5),
provides that agricultural conversion rates fixed in                                      Article 2
advance are to be adjusted if the gap between those rates
and the agricultural conversion rates in force at the time        This Regulation shall enter into force on 19 March 1998.
                  This Regulation shall be binding in its entirety and directly applicable in all Member
                  States.
                  Done at Brussels, 18 March 1998.
                                                                             For the Commission
                                                                               Franz FISCHLER
                                                                         Member of the Commission
(1) OJ L  387, 31. 12. 1992, p. 1.
(2) OJ L  22, 31. 1. 1995, p. 1.
(3) OJ L  79, 17. 3. 1998, p. 19.
(4) OJ L  108, 1. 5. 1993, p. 106.
(5) OJ L  188, 27. 7. 1996, p. 22.