CELEX: 51980PC0251
Language: en
Date: 1980-05-06
Title: PROPOSAL FOR A COUNCIL REGULATION (EEC) AMENDING, AS REGARDS THE ITALIAN LIRA, 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) 251
Vol. 1980/0098
 ---pagebreak--- Disclaimer
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 ---pagebreak--- COMMISSION OF THE EUROPEAN COMMUNITIES
                                                     COM ( 80 ) 251 final
                                                     Brussels , 6th May 1980
                             A         K                    .*\
                                       ••             .      ^
                    PR0P0SAL|£0R A COUNCIL REGULATION (EEC )
                     AMENDING^AS REGARDS JHE^ITALIAN LIRA/
                   REGULATION (EEC) N^ 878/77 ON THE EXCHANGE
                      RATES TO BE APPLIED IN AGRICULTURE
                                 W !..    . . I I . . » . -     ■ ■ .
                  (presented by the Commission to the Council )
 COM ( 80 ) 251 final
 ---pagebreak---                   EXPLAlTATOKx tELDRANIUM
                     1   ι
The French and Italian Governments have asked for their representative
rates to he devalued *
Since , devaluation of a representative rate may not take it "below the
central rate f the Commission proposes fixing the representative rates
at the same level as the central rates •
The change will take effect from 12 May for the milk and "beef and veal
sectors and for pigmeat and at the beginning of the 1900-81 marketing years
for the other sectors .
The financial implications are shown in the annexed tables .
 ---pagebreak---               !
              i
              i
                                                                          r        –              :     r
                      Hcproscntative ratc3                                            Effects
                                                            Dévaluation
  Currency         precont                 future                         J or. . L'As     1 on prit/c
                                                               tø)
                                                                          j réduction !      incrcr.co
        \
                                                                            ( pointe ) !        . tø)
           LIT 100   - 0,0w9 >?55     LIT 100 -  O.OC637K                           Λ
                              ECU                       ECU
                                                              3,523            » 2j6
j LIT
!
             1 ECU - LIT
                       1.117,00
                                        1 ECU - LIT
                                                 1.157.79
                                                                                              .+ 3,652
             1 F?    - 0,173343      :  1 ff  »' 0,171020               I
                               ECU                      ECU
   ' F?
             1 ECU . - 5.76C91          1 ECU -  5,047OO      1,336     |
                                                                        !
                                                                               nil        ;
                                                                                          1
                                                                                               + 1,354
                               FF                       FF              *                 I
                                                                  .
                                                                        I
                                                                        1               < j
                                   I
     LIT   LIT 100   - 0,0942746     LIT 100 = 0,0863714
  pi qmest                    ECU                       ECU
                                                              8,393            - 8,1            + 9,150
             1 ECU = LIT      '         1 ECU = LIT   ,
                       1 ,060,73                 1,157,79
      t
 ---pagebreak---                                       PROPOSAL
               "  COUNCIL REGULATION ( EEC )
      amending / es regards the - Italian lira , Regulation ( EEC ) N° 878 / 77
                 on the exchange rates -to be -applied in agriculture
                                                                                         I
THE COUNCIL OF THE EUROPEAN COMMUNITIES ,
                                                                             »
Having regard to the Treaty establishing the European Economic Community ,
Having regard to Council Regulation n° 129 on the value of the unit of account
and the exchange rates to be applied for the purposes of the common agricultural
policyO ), as last amended by Regulation ( EEC ) n° 2543/ 73 ( 2 ), and in particular
Article 3 thereof,
Having regard to the proposals from the Commission ,                              '
Whereas Council Regulation ( EEC ) n° 878 / 77 of 26 April 1977 on the exchange -
rates to be applied in agriculture ( 3 ), as last amended by Regulation ( EEC )        '
n°      / 80 ( 4 ), fixed representative rates for , among others , the Italian lira ;
                                                                       c
whereas it appears appropriate to fix for that currency a new representative
rate closer to present economic reality ;
                                                    \ • I ,
Whereas immediate entry into effect of the aforesaid new representative rate
should be provided for , with account being taken , however , of the special needs
existing in some sectors ;                        -
Whereas the Monetary Committee will be consulted and 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 Regulation n° 129 ,
(1)  OJ N0     106 , 30.10.1962 , p . 2553 / 62 ,
( 2) 0J N° L 263 , .19.9.1973 , p.1
( 3) 0J N° L 106 , 29.4.1977 , p. 27
( 4) 0J N° L       ,            ,
 ---pagebreak---  HAS ADOPTED THIS REGULATION :
                                     Article 1
Article 2a(4Xc)of Regulation ( EEC ) n° 878 /77 is replaced by the following :
                                                                     «
"c ) By way of derogation from paragraph 2 , as regards the Italian lira , the
     representative rate of, 100 Italian lira = 0,0863714         ECU shall apply
     with effect from
     - 12 May 1980 for the milk and milk products , beef and veal and pigmeat sect
                                                                          »
     - 1 July 1980 for the sugar and isoglucose sectors
     ~ 1 August 1980 for the cereals , eggs , poultry, ovalbumin and lactabulmin
        sectors       '            '
    ^-*16 December 1980 for the wii^e sector; however, other dates may be fixed
  f     for_.distillation .operations             ,                 ~
    Lr_JL .Janua.ry 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 not mentioned above and , in particular ,
        for the additional aid referred to in Article 1 ( 2 ) of Regulation ( EEC )
        n« 251 1 / 69
                                  Article 2
This Regulation shall neter into force on 12 May      1980 .
This Regulation shall be binding in its entirety and directly appEicable in
all Member States .
Done at Brussels ,                                        For the Council
 ---pagebreak---                                                                                                                                            5
                     FINANCIAL                  STATEMENT                                       .               –                          *
                                                                                            I                                              t
                                                                                            I »•«• «       30 April 19S0
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                                                                                              o ? nc.r prononcé ïh:3net
  /. urn « Council Reflation amending, as regards tho Italian lira, Peculation
      ( EEC ) No €73/77 on tho exchanc© rates to be applied in agriculture
  j . iì cai e*sjs 1        Artide 3 of Council Rerulation 129
  *. * i«s or MOjtcTi Devaluation of Italian lira to "bring representative rate to
      level of central rate .                                         . '
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     Effect of double conversion rate                                                         +   12 m SUA              +. 30 El EUA
     Reduction in I-ICAs by comparison with                                                                     t   '■
         Budget estimates                                                                         31 m EUA                 -r
                                                                                                                           )\j _  TT"T *
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                                                                      .   ;
     Total effect on expenditure •                                                                10 m EUA '            –   6m 7~JA
     Effect of double conversion rate                                                         +     5 m EUA             + 16 m EUA
     Increase in levies                                                                            P. m SUA             + 9 n ITJA
     Total effect on oT.:n resources                                                          +     7 a EUA             + 25 m EUA
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