CELEX: 51978PC0104
Language: en
Date: 1978-03-13
Title: PROPOSAL FOR A COUNCIL REGULATION ( EEC ) ON THE APPLICATION OF THE PROVISIONS OF THE FINANCIAL PROTOCOLS CONCLUDED WITH GREECE, TURKEY AND PORTUGAL

13.4.78                            Official Journal of the European Communities                            No C 90/11
               Proposal for a Council Regulation on the application of the provisions of the Financial
                                Protocols concluded with Greece, Turkey and Portugal
                          (Submitted by the Commission to the Council on 17 March 1978)
 THE COUNCIL OF THE EUROPEAN                                    Association Councils and the Joint Committee
 COMMUNITIES,                                                   respectively in accordance with Article 10 of the
                                                                Financial Protocol with Greece, Article 13 of the
Having regard to the Treaty establishing the                   Financial Protocol with Turkey and Article 9 of the
 European Economic Community, and in particular                Financial Protocol with Portugal.
 Article 209 thereof,
                                                                                       Article 2
Having regard to the proposal from the Commission,
                                                                1.   The appropriations for the financing of aid not
Having regard to the opinion of the European                   covered from the Bank's own resources shall be
Parliament,                                                     administered by the Commission, in accordance with
Whereas the Financial Protocols, which constitute              the Financial Regulation of 21 December 1977
 integral parts of the Agreements with Greece, Turkey           applicable to the general budget of the European
 and Portugal, and are hereinafter referred to as the          Communities.
'Protocols', have fixed the aggregate amount of                2.    The Commission shall itself administer the
 Community aid to those countries at 280, 310 and              grants provided for in Article 2 (6) of the Protocol
 230 million units of account respectively, comprising         with Greece for the purpose of technical assistance
230 million units of account in the form of loans on           schemes or projects.
 special terms, 75 million units of account in the form        3.    A general mandate shall be given to the Bank
 of grants and 515 million units of account in the form         by the Commission in the name of the Community to
 of loans granted by the European Investment Bank               administer the interest rate subsidies for loans from
 from its own resources;                                      its own resources in Greece and Portugal, and to
"Whereas the unit of account applicable for purposes           administer special loans in Greece and Turkey.
 of the Protocols was defined in a declaration annexed        4.     Operations covered by the mandate established
 to the said Protocols;                                        pursuant to paragraph 3 shall be undertaken by the
Whereas the detailed rules for the administration of          Bank on behalf and at the risk of the Community.
the aid not covered by the Bank's own resources                The Bank shall act in accordance with the procedures
 must be laid down;                                            laid down by its Statute, subject to Articles 8 and 9 of
                                                               this Regulation.
Whereas provision should be made to lay down the               The special conditions of the mandate — in
rules for the management of financial and technical            particular the provisions concerning movements of
cooperation, the procedure for examining and
                                                               funds and the remuneration for executing the
approving aid and the detailed rules for supervising
                                                               mandate — shall be the subject of an agreement
the use of that aid;
                                                               between the Commission and the Bank.
Whereas a Committee of representatives of the
Member States should be set up under the auspices of                                  Article 3
the Commission for operations directly administered           The unit of account used for the purpose of this
by the Commission;                                             Regulation shall be that defined in the Declaration by
Whereas it should be stipulated that applications for         the European Economic Community relating to
the financing of operations not covered from the              Article 2 of the Protocols.
Bank's own resources should be submitted for opinion
to a Committee of representatives of the                                              Article 4
Governments of the Member States and to the                   Periodic exchanges of views shall be held on the
Commission,                                                   implementation of financial cooperation with Greece,
                                                               Turkey and Portugal in the Committee provided for
                                                              in Article 8. These exchanges of views shall relate
HAS ADOPTED THIS REGULATION:
                                                               inter alia to the information obtained by the Bank
                        Article 1                             from the countries concerned regarding the financing
                                                              sought and to operations which the Bank intends to
The results of financial cooperation with Greece,              submit for an opinion in accordance with Articles 8
Turkey and Portugal may be examined within the                and 9,
 ---pagebreak--- No C 90/12                         Official Journal of the European Communities                              13. 4. 78
 Periodic exchanges of views shall be held on the              In that event, the Commission shall defer by not more
technical cooperation projects referred to in Article 2        than two months from the date of such
 (6) of the Financial Protocol with Greece in the             communication the application of the decisions
 Committee provided for in Article 5. These exchanges         which it has taken.
of views shall relate inter alia to the information
obtained by the Commission from Greece regarding              The Council, acting by a qualified majority, may take
the financing sought and to operations which the              a different decision within two months.
Commission intends to submit for an opinion in
 accordance with Article 7.
                                                                                     Article 8
                        Article 5
                                                              1.    There is hereby established under the auspices of
1.     There is hereby established under the auspices         the Bank a committee consisting of a representative
of the Commission a Committee (hereinafter called             of each Member State and with the participation of a
'the    Article   5     Committee')     consisting   of       Commission representative (hereinafter called the
representatives of the Member States.                         'Article 8 Committee'). It shall be chaired by the
                                                              representative of the Member State currently chairing
The Article 5 Committee shall be chaired by a                 the board of the Governors of the Bank. Its secretariat
representative of the Commission; its secretariat shall       shall be provided by the Bank.
be provided by the Commission.
A representative of the Bank shall take part in its           2.    The Council, acting unanimously, shall adopt
proceedings.                                                  the rules of procedure of the Article 8 Committee.
2.    The Council, acting unanimously on a proposal
from the Commission, shall adopt the rules of                 Within the Article 8 Committee, the votes of the
                                                              Member States shall be weighted in accordance with
procedure of the Article 5 Committee.
                                                              Article 148 of the Treaty. The Article 8 Committee
3.     Within the Article 5 Committee, the votes of the       shall act by a majority of 41 votes.
Member States shall be weighted in accordance with
Article 148 (2) of the Treaty.                                3.    Applications for loans with an interest rate
The Article 5 Committee shall act by a majority of 41         subsidy or special loans submitted by the Greek,
votes.                                                        Turkish or Portuguese Government, or on which such
                                                              Government has expressed a favourable opinion,
                                                              shall be transmitted by the Bank to the Members of
                                                              the    Committee      and     to    the   Commission,
                        Article 6                             accompanied by any relevant comments.
 1.    The Article 5 Committee shall give its opinion        An application for a loan shall be considered
 on draft decisions submitted to it by the Commission         acceptable if the Bank does not receive — within two
 to finance technical assistance projects or schemes in       months from the date of transmission of the
Greece.                                                       application — any request for consultation of the
                                                              Committee or from one of its members or from the
2.     The Committee's assessment shall relate to the
                                                              Commission.
conformity of the projects with the objectives of
technical cooperation laid down in the Protocol with
Greece.                                                       If such a request is received, the Committee shall
                                                              examine whether the loan application is acceptable.
                        Article 7
                                                                                     Article 9
The draft financing proposals referred to in Article 6,
together with the opinion of the Article 5 Committee,         1.    The assessment by the Member States and the
shall be submitted to the Commission for its decision.        Commission shall relate to the conformity of the
 The Commission shall take decisions and they shall           projects with the objectives of financial cooperation
be immediately applicable. However, should the                as laid down in the Protocols.
 Committee not deliver a favourable opinion, the
 Commission shall communicate its decisions to the            2.    Where, in the case of an application for a loan
 Council forthwith,                                           with an interest rate subsidy, or for financing by
 ---pagebreak---  13. 4. 78                          Official Journal of the European Communities                           No C 90/13
 special loan, the procedure provided for in Article 8        If, however, the Council decides in favour of the
 results in a tacit agreement or in a favourable opinion      application, the Bank shall implement the procedures
from the Committee and from the Commission, the               provided for in its statute.
 application shall be submitted for a decision to the
 Board of Directors of the Bank, which shall act in
 accordance with the provisions of the Bank's statute.                                 Article 10
In the absence of favourable opinion from the Article
 8 Committee or in the event of an unfavourable               1.     The Commission shall ascertain from the Bank
 opinion from the Commission, the Bank shall either           that the mandate laid down in Article 2 is being
not take any action on the application or request that        carried out.
the Member State taking the chair of the Article 8
Committee bring the matter before the Council as              2.    It shall also ascertain how grants, which it
soon as possible.                                             administers directly, are used by the recipients.
3.     Where, in the absence of a favourable opinion          3.    The Commission shall inform the Council and
 from the Article 8 Committee or in the event of an           the European Parliament at least once a year, and in
 unfavourable opinion from the Commission, the                addition whenever they so request, as regards the
matter is brought before the Council in accordance            implementation of paragraphs 1 and 2.
with paragraph 2, the application shall be submitted
to the Council together with the reasoned opinions
 of the Article 8 Committee and the Commission.
                                                                                       Article 11
The Council shall act by a qualified majority.
However, in the event of an unfavourable opinion of           This Regulation shall be applicable for the same
the Commission, it shall act unanimously.                     period as the Protocols.
If the Council decides to confirm the position taken
by the Article 8 Committee or by the Commission,              This Regulation shall be binding in its entirety and
the Bank shall not take any action on the application.        directly applicable in all Member States.
               Proposal for a Council Regulation amending the Annex to Regulation (EEC) No 804/68
                         on the common organization of the market in milk and milk products
                           (Submitted by the Commission to the Council on 20 March 1978)
 THE COUNCIL OF THE EUROPEAN                                  products (1), as last amended by Regulation (EEC)
 COMMUNITIES,                                                  No 2560/77 (2), provides that refunds may be granted
                                                              to the extent necessary to enable such products to be
Having regard to the Treaty establishing the European         exported either in unprocessed form, or in the form
Economic Community, and in particular Article 43               of goods listed in the Annex;
thereof,
                                                              Whereas, in view of milk product prices in
Having regard to the proposal from the Commission,            international trade, provision should be made for the
                                                              granting of refunds to milk products incorporated in
                                                              goods falling within heading No 22.09 of the
 Having regard to the opinion of the European                 Common Customs Tariff, so as to enable industries
Parliament,                                                    exporting such goods to use milk products of
 Whereas Article 17 (1) of Council Regulation (EEC)
 No 804/68 of 27 June 1968 on the common                      (*) OJ N o L 148, 28. 6. 1968, p. 13.
 organization of the markets in milk and milk                  (*) OJ N o L 303, 28. 11. 1977, p. 1.