Commission Regulation (EEC) No 331/87 of 2 February 1987 amending Regulation (EEC) No 467/77 on the method and rate of interest to be used for calculating the costs of financing intervention measures comprising buying in, storage and disposal

COMMISSION  REGULATION (EEC) No 331/87
of 2 February 1987
amending Regulation (EEC) No 467/77 on the method and rate of interest to be used for calculating the costs of financing intervention measures comprising buying in, storage and disposal
THE COMMISSION OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Economic Community,
Having regard to Council Regulation (RRC) No 1883/78 of 2 August 1978 laying down general rules for the financing of interventions by the European Agricultural Guidance and Guarantee Fund, Guarantee Section (1), as last amended by Regulation (EEC) No 1334/86 (2), and in particular the second paragraph of Article 5 thereof;
Whereas the second paragraph of Article 5 of Regulation (EEC) No 1883/78 empowered the Commission to fix the uniform interest rate at a lower level in the case of Member States which have interest costs below those which result from the application of the uniform interest rate for calculating financial costs;
Whereas the uniform interest rate was fixed at 7 % from 1 December 1985; whereas in comparison with the situation in 1985 the interest rates paid by two Member States fell below the uniform interest rate during 1986;
Whereas the specific interest rate to be applied in those Member States with effect from 1 December 1986 should be fixed and Commission Regulation (EEC) No 467/77 (3), as last amended by Regulation (EEC) No 1730/86 (4) should be amended accordingly;
Whereas the EAGGF Committee has not delivered an opinion within the time limit set by its Chairman,