CELEX: 51981PC0740
Language: en
Date: 1981-11-24
Title: PROPOSAL FOR A COUNCIL REGULATION (EEC) amending, as regards the Italian lira, Regulation (EEC) No 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 (81) 740
Vol. 1981/0212
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 ---pagebreak--- COMMISSION OF THE EUROPEAN COMMUNITIES
                                                      COM(81)740 final
                                                      Brussels , 24th November 1981
              Ï'
                    PROPOSAL FOR A COUNCIL REGULATION ( EEC )
          amending / as regards the Italian lira , Regulation ( EEC ) No
          878/ 77 on the exchange rates to be applied in agriculture
                                      (:■ i               ■         .   :J
                                      Ι-                        : ■   ■   ^
                  (presented by the Commission to the Council )
                                      V. • v ,>:
                                            •i VT . ,
                                                      l V
COM ( 81 ) 740 final
 ---pagebreak---                                       EXPLANATORY Iffl^RAJtroTJM
           1 . With effect 011 5 October 198l » central rates were altered within
               the European Monetary System .
               The Italian lira was devalued by 3% against currencies which remained
               stable .           i
                                I
           2 . This proposal envisages a 2.5% alteration in the representative rate
               for the Italian lira at the Italian government 's request .
               This devaluation is to take effect at once in the milk and milk products ,
               beef and veal , pigmeat and wine sectors .
               In «rder to avoid fragmentation of green rates , which would mean- that
               the agricultural rules were further from the actual monetary situation
               rather than closer , . provision should be made for the new rate to apply
               in the other sectors also , but at the beginning of the marketing years .
           3 . The effects of this devaluation are shown in the following table s
                                                                  S
               Representative rate                  Devaluation                Effect
    Old                             New                          on prices in on monetary
                                                                 national     compensatory
                                                                 currency     amounts
100 lira °                  100 lira =
    0.0814996 Ecu               O.O794913 Ecu           2.464 %   + 2.526 %     - 2.6
1 Ecu ■ 1227.00 lira        1 Ecu - I258.OO
                                                                                      V
 ---pagebreak---                                      Froposal for a
                               COUNCIL REGULATION ( EEC ) No
    amending , as regards the Italian lira , Regulation ( EEC ) No 878/77 on the
                     exchange 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 Regulation No 129 on the value of the unit of account
and the exchange rates to be applied for the purposes of the common
agricultural policy ( l ), as last amended by Regulation ( EEC ) No 2543/73 ( 2 ),
and in particular Article 3 thereof ,
Having regard to the proposal from the Commission ,
Whereas Council Regulation ( EEC ) No 878/77 of 26 April 1977 on the exchange
rates to be applied in agriculture ( 3 ), as last amended by Regulation ( EEC ) No
2923/81 ( 4 ), fixed representative rates for , among others , the Italian lira ;
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 this
new representative rate , while at the same t.-' ? 3 taking account of the special
needs in some sectors ;
Whereas the Monetary Committee will be const' ted ;       whereas in view of the
urgency involved , the measures envisaged should be adopted in accordance with
the conditions laid down in Article 3(2 ) of legula'tion No 129 ,
                                                                         \
(1) OJ No 106 ,     20.10.1962 ,   p. 2553/ 62
(2) OJ No L 263 ,   19 - 9-1973 ,  P- 1
(3) OJ No L 106 ,   29 . 4 1 977 , p. 27
(4) OJ No L 291 ,   12.10,1981 ,   p.l
 ---pagebreak---                                         - 2 -
HAS ADOPTED THIS REGULATION ;
                                      Article 1
Annex VII to Regulation ( EEC ) No 878/77 is hereby replaced by the Annex to
this Regulation .
                                      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 .                                 For the Council
                                                   The President
 ---pagebreak---                                        ANNEX VII
                                         ITALY
1 . I ECU = 1,258.00 Italian lire .
    This rate shall apply with effect from :
    - 30 November 1981 , for the milk and milk products , beef and veal , pigmeat
       and wine sectors ; however for the wine sector , other dates may be fixed
       for distillation operations and for the aid referred to in Articles 14
       and 14a of Regulation ( EEC ) No 337/79-
       1 January 1982 for the Fishery products sector
    - The beginning of the 1982 /83 marketing year for the other products for
       which there exists a marketing year .
       30 November 1981 in all other cases .
2 . Until the dates given in point 1 , the following rate shall apply :
       1 ECU = 1,157*79 Italian lire for the fishery products sector
       1 ECU = 1,227.00 Italian lire in all other cases .
 ---pagebreak---                       FINANCIAL                 STATEMENT
                                                                                        Date
                                                                                                  19.11.1981
    1. BUDGET HEADING : I982 – Titles 1 and. 2 and chapter 100 APPROPRIATIONS :                                       3 M ECU
   2. TITLE : Council Regulation amending as regards the Italian lira, Regulation (EEC)
                   no 070/ 77 on the exchange rates to be applied in agriculture .
h
   3. LEGAL BASIS : Council Reg. 129 , as last amended by Reg. (EEC) no 2543/73
   4, AIMS OF PROJECT : 2.6 point reduction in mcas applicable to the Italian lira by deva­
        luing the representative rate for the Italian lira from 30.11 . 1981 in the milk an 1
        milk product^ beef and veal , pigmeat and wine sectors , and from the beginning of
        the 1982/83 marketing year for the other sectors .
   5 .. FINANCIAL IMPLICATIONS         ■           PERIOD OF 12 MONTHS CURRENT FINANCIAL YEAR        FOLLOWING FINANCIAL YEAR
                                                                             vmM          1                 (   A? )
   5.0 EXPENDITURE
         - CHARGED TO THE EC BUDGET
            ( REFUNDS / INTERVENTIONS )                 - 53              token entry                         - 64
         - NATIONAL ADMINISTRATION
         - OTHER
  S.I RECEIPTS                     •
         - OWN RESOURCES -OF' THE EC
            ( LEVIES / CUSTOMS DUTIES )                 + 35              token -entry                        +   4
         - NATIONAL
                                                        1983
  5.0.1 ESTIMATED EXPENDITURE                           - 53
  5.1.1 ESTIMATED RECEIPTS                              + 35
  5.2 METHOD OF CALCULATION               Expenditure         ( in ECU)                          1232.              12 months
          . Effect on mca expenditure                                                            - 83                   104
          • Variation in refunds as reduction                                                    +     2                   4
         « in Mcas reduce refunds
         . Effect of dual conversion rate -                             .                      .+ .17                    £7
                        Total effect on expenditures                                             - 64                -   53
                                         Receipts
         • Effect of dual conversion rate on sugar levies                                        +     1.5           +   12
         • Increase in levies following reduction in mcas                                        +     2.5           +   23
                        Total effect on receipts                                                 + 4 U)                  35
  6.0 CAN THE PROJECT BE FINANCED FROM APPROPRIATIONS ENTERED IN THE RELEVANT CHAPTER OF THE CURRENT BUDGET
                                                                                                                         YES/W^.
  6.1
  6.2
  6.3 WILL FUTURE BUDGET APPROPRIATIONS BE NECESSARY ?
                                                                                                                         YES / NO
  OBSERVATIONS : ( l) It should be noted that this effect is assessed by comparison with
 the draft 1982 budget . The effect of the measure proper on receipts amounts to s
  . Effect of dual conversion rate (m ECU)                                            1982                         12 months
       on sugar levies               -                                           '          _      '               . -.
     'T                 •       .                                                    "*"5                          + Id
  • Increase in levies following reduction
       in mcas                                                                     „
                                   Total effect on receipts                          4+. 114/1 .          "       ++ 35
                                                                                                                      ^