Council Regulation (EC) No 2800/98 of 15 December 1998 on transitional measures to be applied under the common agricultural policy with a view to the introduction of the euro

24.12.1998 EN Official Journal of the European Communities L 349/8
COUNCIL REGULATION (EC) No 2800/98
of 15 December 1998
on transitional measures to be applied under the common agricultural policy with a view to the introduction of the euro
THE COUNCIL OF THE EUROPEAN UNION
,
Having regard to the Treaty establishing the European Community, and in particular Articles 42 and 43 thereof,
Having regard to the proposal from the Commission (1),
Having regard to the opinion of the European Parliament (2),
Having regard to the opinion of the Economic and Social Committee (3),
Having regard to the opinion of the Monetary Committee (4),
Whereas Council Regulation (EC) No 2799/98 of 15 December 1998 establishing agrimonetary arrangements for the euro (5) eliminates the possibility of fixing specific agricultural conversion rates that are different from the actual conversion rates for the currencies;
Whereas the agricultural conversion rates in force at 31 December 1998 pursuant to Council Regulation (EEC) No 3813/92 of 28 December 1992 on the unit of account and the conversion rates to be applied for the purposes of the common agricultural policy (6) could be different from the conversion rates fixed irrevocably by the Council for the currencies of the participating Member States in accordance with the first sentence of Article 1091(4) of the Treaty and from the actual exchange rates applying on 1 January 1999 for non-participating Member States;
Whereas the disappearance of the agricultural conversion rates on 1 January 1999 may have the same effects as an appreciable revaluation; whereas it may accordingly result in a reduction in agricultural income; whereas, as a consequence, provision could justifiably be made for temporary, digressive aid to be granted to keep pace with the development of agricultural prices in a way that is compatible with the rules of the general economy;
Whereas it must be made possible to offset the effect of the disappearance of the agricultural conversion rates on the level of certain types of direct aid in terms of national currency in accordance with specific rules adapted to such aid;
Whereas, provision should be made for a procedure introducing close cooperation between the Member States and the Commission to facilitate the implementation of this Regulation,