CELEX: 51974PC1747
Language: en
Date: 1974-10-18
Title: PROPOSAL FOR A REGULATION (EEC) OF THE COUNCIL amending Regulation (EEC) No 2958/73 on the exchange rate applied in apiculture for the Italian lira (subritted to the Courcil by the Commission)

ARCHIVES HISTORIQUES
DE LA COMMISSION
COLLECTION RELIEE DES
DOCUMENTS "COM"
COM (74) 1747
Vol. 1974/0278
 ---pagebreak--- Disclaimer
Conformément au règlement (CEE, Euratom) n° 354/83 du Conseil du 1er février 1983
concernant l'ouverture au public des archives historiques de la Communauté économique
européenne et de la Communauté européenne de l'énergie atomique (JO L 43 du 15.2.1983,
p. 1), tel que modifié par le règlement (CE, Euratom) n° 1700/2003 du 22 septembre 2003
(JO L 243 du 27.9.2003, p. 1), ce dossier est ouvert au public. Le cas échéant, les documents
classifiés présents dans ce dossier ont été déclassifiés conformément à l'article 5 dudit
règlement.
In accordance with Council Regulation (EEC, Euratom) No 354/83 of 1 February 1983
concerning the opening to the public of the historical archives of the European Economic
Community and the European Atomic Energy Community (OJ L 43, 15.2.1983, p. 1), as
amended by Regulation (EC, Euratom) No 1700/2003 of 22 September 2003 (OJ L 243,
27.9.2003, p. 1), this file is open to the public. Where necessary, classified documents in this
file have been declassified in conformity with Article 5 of the aforementioned regulation.
In Übereinstimmung mit der Verordnung (EWG, Euratom) Nr. 354/83 des Rates vom 1.
Februar 1983 über die Freigabe der historischen Archive der Europäischen
Wirtschaftsgemeinschaft und der Europäischen Atomgemeinschaft (ABI. L 43 vom 15.2.1983,
S. 1), geändert durch die Verordnung (EG, Euratom) Nr. 1700/2003 vom 22. September 2003
(ABI. L 243 vom 27.9.2003, S. 1), ist diese Datei der Öffentlichkeit zugänglich. Soweit
erforderlich, wurden die Verschlusssachen in dieser Datei in Übereinstimmung mit Artikel 5
der genannten Verordnung freigegeben.
 ---pagebreak--- COMMI5SEON OF THE BUROE3AN COMMDMUES
                                                            COM ( 74) 1747 final
                                                            Brussels , 18 October 1974
                                   PROPOSAL FOR A
                          REGULATION ( EEC ) OF THE COUNCIL
            amending: Regulation ( EEC ) No 295 V73 on the exchange rate
                    applied in apiculture for the Italian lira
                   ( subritted to the C our oil by the Commission)
   C0MC74 ) 1747 final
 ---pagebreak---                           Explanatory Note
As a result of developments in the situation of the Italian Lira on the
foreign Exchange Market it appears desirable to fix a new representative
rate for this currency from 28 October 1974 which will avoid the
reintroduction of monetary compensatory amounts in trade with this Member
States
The rate in question is equivalent to a devaluation of the "green lira" of
approximately 4% which will thus correspond more closely with economic reality .
The monetary committee will be consulted .
Time-table . Decision of the Council 21 October .
 ---pagebreak---                         PROPOSAL FOR A
                  REGULATION ( EEC)OF THE yCOUîTCIL
         amending Regulation (EEC ) No 2958/73 on the exchange rate
                     applied in agriculture for the Italian lira
THE COUNCIL OF THE EUROPEAN CŒMJNITIES ,
Having regard to the Treaty establishing the European Economic Gorouiiity. »
Having regard to Council Regulation No 129 ( l).°n "the value of the unit
of account and the exchange rates to he applied for the purposes of the
common agricultural policy , ae last amended by Regulation ( EEC )
No 2543/73 ( 2), and in particular Article 3 thereof ;
Having regard to the proposal from ther Commission ; ,
Whereas Article 1 of Council Regulation (EEC ) NO 2958/73 (3 ) of 31 October
1973 on the exchange rates applied in agriculture for the Italian lira ,
as last amended by Regulation (EEC ) No 1847/74 (4-)» provided for the
application of a representative rates for the Italian lira ,
Whereas the economic situation in Italy necessitates taking another step
towards uniformity of agricultural prices in the Community by fixing another
more realistic representative rate ;
                                                               • »  • •
( 1) OJ No 106 , 30.10.1962 , p. 2553/62.
( 2) OJ No L 263 , 19.9.1973 , p. 1-
( 3) OJ No L 303 , 1.11.1973 , P. 1 .
(4 ) OJ No L 195 , 18.7.1974 , P. 1 .
 ---pagebreak---                                           2   -
Whereas the Monetary Committee will ibe consulted and whereas , in view of
the urgency of the natter , the measures envisaged should be adopted under
the conditions laid down in Article 3 ( 2 ) of Regulation No 129 ;
Whereas the fixing of such a representative rate would lead to an adjust­
ment in the level of prices for agricultural products in Italy ; whereas
this result is consistent with the "basic principle of uniformity of prices
in the Community ; whereas it was on the "basis of this principle and its
consequences that specific provisions were laid down , in particular in
Council Regulation (EEC ) No 1134/68 ( 5 ) of 30 July 1968 lading down rules
for the implementation of Regulation ( EEC ) No 653/68 on conditions for
alterations to the value of the unit of account used for the oommon
agricultural policy ; whereas these provisions cover only the case of a
change in the parity of a currency ; whereas they should also be applied
in this case ; xvhereas the new representative rate should therefore be
included £n Regulation (EEC ) No 2958/73 » the other provisions of which
remain unchanged ;                            ,
HAS ADOPTED THIS REGULATION :
                                 ;     Article 1
The following is added to Article 1 ( 2) of Regulation (EEC ) No 2958/73 i
                  "(©J) with effect from 28 October 1974 100 Italian
                        lira =s GO20CEJL8> unit of account 11 ....
                                       Article 2
This Regulation shall enter into force on the day of its publication in
the Official Journal of the European Communities .
 This Regulation shall be binding in its entirety and directly applicable
 in all Member States .
 Done at Brussels ,                           4            • For the Council
                                                              The Président
 ( 5 ) OJ Nç L 188 , 1.8.1968 , p. 1 .
 ---pagebreak---                                 Financial implications
1.     The object ,of altering the representative rate of the lira is
       to avoid reintroduction of monetary compensatory amounts from
       21 October 1974 .     The movement of the lira exchange rate is such
       that MCA on the basis of 4»0> would have to be applied from that
       date .   To work out the financial implications of this proposal t
       it is therefore necessary to compare the financial impact of
       ( a)    reintroduction of MCA on the basis of 4.6$ from 21 October
               1974 ( status quo as concerns Regulations );- .
       (b )    alteration of the representative rate from the same date
               (proposed alteration of Regulations ).
2.     Reintroduction of MCA on the basis of 4.6$ would have the following
       financial implications :
                                              ( '000,000 u.a .. 12 months )
                                         –!
           . ■  I. Outgoings
 MCA in intra trade
       ( granted-colleot ed)                        + 63 ( intervention outgoings )
 1ICA in extra trade
   (a) granted on importation               |       + 23 (refund outgoings)
   (b ) collected on exportation                    - 5 ( refund outgoings )
         ( deducted from, refunds ) .
                       " ' 1     - -I –
 Total variation in EAGGF outgoings                 + 81
               II . Incomings
 MCA granted on importation
       ( deducted from levies )            j        - 17
 MCA collected on exportation                       +  3
 Total variation in incomings              1
    ( ovin resources )                              - 14
 ---pagebreak---   Financially ohanging the representative rate by 4% will mean widening
  the gap between the unit of account conversion rate for agricultural
  instruments and for the Budget .  The financial implications of this
  may be estimated at :
                                       (* 000,000 u.a.,12 months )
  Interventions                                    + 20
  Refunds                                            +3
  Increase in EAGGP Guarantee outgoings            -f 23
  Incomings in levies                                +8
  Comparison between the financial implications of reintroducing MCA
  and of altering the representative rate indicates that as regards
  outgoings in particular the latter course would be very much less
  costly .
'-In- the oase of the financial year 1974 » given application for .a
  period of 2.l/2 months allowing for the term of payment , the
  additional outgoings could be covered from the overall EAGGP
  Guarantee appropriations .
  In the case of the financial year 1975 » having regard to the data
  adopted in drawing up the 1975 Draft Budget , the comparatively
. limited increase in outgoings should not be such as to call for
  revision of the overall EAGGP Guarantee appropriations planned for .
  financial 1975 •