CELEX: 51980PC0249
Language: en
Date: 1980-05-06
Title: PROPOSAL FOR A COUNCIL REGULATION (EEC) AMENDING, WITH RESPECT TO THE FRENCH FRANC, REGULATION (EEC) N° 878/77 ON THE EXCHANGE RATES TO BE APPLIED IN AGRICULTURE (presented by the Commission to the Council)

ARCHIVES HISTORIQUES
DE LA COMMISSION
COLLECTION RELIEE DES
DOCUMENTS "COM"
COM (80) 249
Vol. 1980/0077
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 ---pagebreak--- COMMISSION OF THE EUROPEAN COMMUNITIES
                                               COM(80)249 final
                                               Brussels , 6th May 1980
                 PROPOSAL FOR A COUNCIL REGULATION ( EEC )
                AMENDING , WITH RESPECT TO THE FRENCH FRANC ,
                REGULATION ( EEC ) N° 878 / 77 ON THE EXCHANGE
                   RATES TO BE APPLIED IN AGRICULTURE
              (presented by the Commission to the Council )
                                                   ta
                           Wi <■             '     1*1
  C0M(80 ) 249 final
 ---pagebreak---                  EXPLANATORY MEI-DRANHUI«I
The French arid Italian Governments have asked for their representative
rates to be devalued .
                    X.
Since devaluation of a representative rate may not talce it below the
central rate , the Commission proposes" fixing the representative rates
at the same level as the central rates .
The change will talce effect from 12 May for the railk and beef and veal
sectors and for pi^eat and at the beginning of the 19C0-S1 marketing years
for the other sectors .
The financial implications are shown in the annexed tables .
 ---pagebreak---             I
                         ».corenentative ratc3                          l
                                                                                  x/ffect3
            I
                                                            Devaluation i
  Currency             présent             future                         on . .CAz      on pricjo
            I
                                                              ( Vi)       reduction      incrcr.cc
            I                                                           I
                                                                        I
                                                                        I ( pointe )         (Λ
J                ï 100 - 0,0          LIT 100 - 0,0003714               I
                                                                                       I
                                ■ ECU                 ECU
     LIT
                 1 ECU m LIT            1 ECU - LIT          3,523           - 2.6     1  + 1,052
                           1.117,00             1.157,79
                 1 F?   - 0,173343      1 F? -"'0,171023                                           t
                                                                                                   I
                                  ECU                 ECU
     vp
           !
                 1 ECU .- 5,7^C9l       1 ECU - 5,047OO      1,336           nil          + 1,354 I
                                  FF                  FF
!    LIT     ■ LIT 100 = 0,0942746    LIT 100 = 0,0863714 !
  pi Treat   |                    ECU                 ECU
                                                             8,393           " 8,1         + 9,150
             {   1 ECU = LIT            1 ECU = LIT
             I             1 ,060,73            1,157,79
 ---pagebreak---                                            PROPOSAL
                           COUNCIL REGULATION ( EEC )           .
  amending , with respect to the french franc -, Regulation ( EEC ) N° " 78 / 77 on
  the excharge rates -to be applied in agriculture                      .
  THE- COUNCIL OF THE EUROPEAN COMMUNITIES ,
  Having regard to the Treaty establishing the European Economic Community/
  Having regard to Council Regulations N° 129 on the value of the unit of
 account and the exchange rates to be applied for the purpose of the common
  agriculture policy ( 1 ), as cost amended by Regulation ( EEC ) N° 2543 / 73 ( 2 ),
 stnd in particular Article 3 thereof ,                                       .
 Having regard to the proposals from the Commission ,
 Whereas Council Regulation ( EEC ) N° 878 /7?        on the exchange rates to be
 applied in agriculture ( 3 ), as last amended by Regulation                    '
  ( EEC ) N° 779 / 80 ( 4 ), fixed representative rates inter alia for the French
  franc ; whereas it appears advisable to fix in respect of that currency a
  new representative rate , more closely reflecting present economic reality ;
 Whereas it is necessary to provide for the immediate entry into effect of
  that new representative rate , while at the same time taking account of the
  special needs in some sectors ;
 VJheras the Monetary Committee will be consulted and wheras in view of the
  urgency involved , the measures envisaged should be adopted in accordance /
  with the conditions laid down .in Article 3(2 ) of Regulation N° 129 ,
. (1 )  OJ N 0 106 , 30.10.1962 ,     p. 2553 /62
   (2)  OJ N° L263 , 19 . 9.1°73 ,    p.    1
   (3)  OJ No L106 , 29 . 4.1977 ,    p.   27
   (4)  OJ N 0 L 85 , 29 . 3 . 1980 , p.   45 ..
 ---pagebreak---                                         - 2 -
          i
HAS ADOPTED THIS REGULATION       :
                                      Article 1
Article 2a(3)(c ) of Regulation ( EEC ) N° 878 /77 is replaced by the following :
" c ) the representative rate of the 1 French franc = 0.171028        ECU shall
        apply with effect from
        - 12 May 1980 for the milk and milk products , beef and veal arid pinjneat
            sectors
   ; - 1 July 1980 for the sugar and isoglucose sectors
        -•1 Auqust 1980 for the cereals , eaas , poultry , ovalbumin and '
    .       lacta Ibumin sectors
        - 15 December 1980 in the wine sector ; however , other dates may be
            fixed for distillation operators
      «
        - 1 January 1981 for the fishery products sector
        - the beginning of the 1980 / 81 marketing year for the other , products
            for which there exists a marketing year
        - 12 May 1980 in all other cases ."
                                      Article 2
This Regulation shall enter into force on 12 May 1980 .
This Regulation shall be binding in its entirety and directly applicable in
all member States .
                                                                               *
Date at Brussels ,
                                                                 For the Council
 ---pagebreak---                   .  FINANCIAL                STATEMENT
                                                                                             « . 30.4.19C0 .
                            s   Titles 6 and 7                                          a^pocjiatii'.S : 10*400 n -iJA
                                                                                       of nc.r ironorcd But1 '-et
        tuli :       Cour.cil Reflation amending, as regards the Fronoli franc , Regulation
         ( EiXJ ) V.o C.7P/77 on the exchange rates to be applied in Agriculture
        ucal è*;:s :• Article 3 of Council Régulation 129
  t . *:«s o> hojui > Devaluation of French franc to "bring representative rate to
         level of ftentral rate
  4.                  i»»i.ic*ticns ( for new             of u « ost»S   CbAfcCNT flNASCUL YCAft   fOl-lCWINS fISANCIAL T£A «
                                                                                                         . (        1 '
                                                                                   T"    _L
          - c-»':{9 *0 w cc ouoctr
             ( tH.NJS / SMMAMSCrS )                      + 40                         13                      + 40
          - zr>: ix  -
  s.i » ca:m
          - C .N P £S3„«CfS (?» T m£ tC
             UCrfltS / CwSW       ? IIS )                + 3.5                     +   2                      +   3.5
          - jixvio*x
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  4.1.1 c;»:-au6 » tct:<>Ts
  4.2 *1 T»09 Of CALCULATION
     »                                                 '
                                                                                         19u0 Budget         12 month period
                                                                                                      $
        Effect of double conversion rate on
        expenditure                                                                        ' + 13                  + 40
        iSffect of double conversion 'rate on own
        resources                                                                            +   2                 +    3.5
  t.Z CAN Tm£ P«0J£CT 8£ #2NASCeO              APP»031ATI0*S ENT£*£J> IN TH£ REUVANT C«APT£fl Of TH£ CURRCNT BuOGci
                                                                               '                                         YES'NO
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                i
   : i;i«vATpss 1
J Devaluation of the Italian lira /will £ive a saving of tho sciic order of magnitude
| ar.d the two devaluations tocother have no effect on .the 19C0 Budget .
I They will have to be taken into account when the 1981 Bud-ot is prepared