CELEX: 51989PC0313
Language: en
Date: 1989-06-16
Title: PROPOSAL FOR A COUNCIL REGULATION ( EEC ) AMENDING ARTICLE 1 OF COUNCIL REGULATION ( EEC ) NO 3180/78 RELATING TO THE VALUE OF THE UNIT OF ACCOUNT USED BY THE EUROPEAN MONETARY COOPERATION FUND, AS AMENDED BY REGULATION ( EEC ) NO 2626/84 OF 15 SEPTEMBER 1984

3. 8. 89                               Official Journal of the European Communities                          No C 198/11
              Proposal for a Council Regulation (EEC) amending Article 1 of Council Regulation (EEC) No
              3180/78 relating to the value of the unit of account used by the European Monetary
                             Cooperation Fund, as amended by Regulation (EEC) No 2626/84
                                                      COM(89) 313 final
                                       (Submitted by the Commission on 16 June 1989)
                                                         (89/C 198/10)
 THE COUNCIL OF THE EUROPEAN COMMUNITIES,                         the functions and uses of the ecu and that either of these
                                                                  decisions could be made at the request of the new
                                                                  Member State concerned, after consultation with the
 Having regard to the Treaty establishing the European
                                                                  Monetary Committee, on the occasion of the first
 Economic Community,
                                                                  five-year review of the weighting of the currencies within
                                                                  the ecu;
 Having regard to Article 2 of Council Regulation (EEC)
 No 3180/78 C1)                                                   Whereas the Spanish and Portuguese authorities have
                                                                  requested that their respective currencies be included in
                                                                  the ecu;
 Having regard to the proposal from the Commission,
                                                                  Whereas the inclusion of the Spanish peseta and the
 Having regard      to  the   opinion    of   the  Monetary       Portuguese escudo, in particular following the steps
 Committee,                                                       taken "by the issuing authorities for these currencies, is
                                                                  compatible with the need to ensure a stable development
                                                                  of the functions and uses of the ecu;
Having regard to the opinion of the Board of Governors
of the European Monetary Cooperation Fund,
                                                                  Whereas it is desirable that an interval of time should
                                                                  elapse between the decision on the new weights of the
Whereas Article 1 of Council Regulation (EEC) No                  currencies in the ecu and the date on which this decision
3180/78 defines the ecu as a sum of amounts of                    takes effect,
currencies of the Member States:
                                                                  HAS ADOPTED THIS REGULATION:
Whereas Article 2 (3) of the resolution of the European
Council of 5 December 1978 on the establishment of the
European Monetary System stipulates that the weights of                                    Article 1
the currencies in the ecu shall be re-examined and if             With effect from 21 September 1989, the composition of
necessary revised within six months of the entry into             the ecu as laid down in Article 1 of Council Regulation
force of the system and thereafter every five years or, on        (EEC) No 3180/78 will be determined by:
request, if the weight of any currency has changed by
25 % ;                                                            — firstly, the following weights:
                                                                                                                         (%)
Whereas a re-examination has been carried out and the                 —   German mark                                 30,1,
results indicate that a revision is appropriate;                      —   Pound sterling                              13,0,
                                                                      —   French franc                                19,0,
Whereas in accordance with Article 2 (3) of the                       —   Italian lire                                10,15,
resolution of the European Council of 5 December 1978,                —   Dutch guilder                                9,4,
the revision should be made in line with underlying                   —   Belgian franc                                7,6,
economic criteria and will not, by itself, modify the                 —   Luxembourg franc                             0,3,
external value of the ecu;
                                                                      —   Danish krone                                 2,45,
                                                                      —   Irish pound                                  1,1,
Whereas the Joint Declaration on the inclusion of the                 —   Greek drachma                                0,8,
Spanish peseta and the Portuguese escudo in ecu,
                                                                     —    Spanish peseta                               5,3,
annexed to the Treaty of Accession of Spain and
Portugal (2) states that the decisions to include the                —    Portuguese escudo                            0,8,
Spanish peseta and the Portuguese escudo must take into           — secondly, the rates for the ecu derived by the
account the necessity of ensuring a stable development of             Commission from the rates of the dollar recorded
                                                                      by the central banks of the Member States on
(') OJ No L 379, 30. 12. 1978, p. 1.                                  their respective exchange market, on Wednesday
(2) OJ No L 302, 15. 11. 1985, p. 484.                                20 September 1989 at 14.15.
 ---pagebreak--- No C 198/12                             Official Journal of the European Communities                                3. 8. 89
The Commission shall be responsible for carrying out,                                         Article 2
on 20 September 1989, the calculations required to                  _. . _     . .     . „              r     „_ _      tnnn
 i .     • *1              . - 1                    ..              This Regulation shall enter into lorce on 20 June 1989.
                                                                             b                                   J
determine the new national currency amounts corre-
sponding to the weights set out in the present regulation;
                                                                    Tnis
it shall ensure that the new composition is communicated                  Regulation shall be binding in its entirety and
to the monetary authorities and published in the Official           directly applicable in all Member States.
Journal of the European Communities.
              Amendments to the proposal for a Council Decision adopting a specific research and techno-
              logical development programme in the field of biotechnology (1990 to 1994) — Biotechnology
                           research for innovation, development and growth in Europe (Bridge) (')
              (Submitted by the Commission pursuant to the third paragraph of Article 149 of the EEC Treaty on
                                                          1 June 1989)
                                                         (89/C 198/11)
              The Commission proposal is hereby modified as follows:
              In the title
              Replace '1990 to 1994' by '1990 to 1993'
                                            Preamble and recitals unchanged
                                                            Article 1
              A specific research and technological development programme for the European Economic
              Community in the field of biotechnology, as defined in the Annex, is hereby adopted for a
              period of four years, from 1 January 1990.
                                                            Article 2
              The amount deemed necessary for the execution of the programme is ECU 100 million,
              including expenditure on a staff of 30.
              The indicative allocation of these funds is set out in the technical annex.
                                            Article 3 to Article 6 u n c h a n g e d
                                                            Article 7
              The Commission is hereby authorized to negotiate, in accordance with Article 130 N of the
              Treaty, agreements with European non-Member States and international organizations, in
              particular with those countries participating in European Cooperation in the field of Scientific
              and Technological Research (Cost), and those having concluded framework agreements in
              scientific and technical cooperation with the Community with a view to associating them
              wholly or partly in concerted actions within this programme.
              O OJ No C 70, 20. 3. 1989, p. 1.