Whereas, while the single currency, the euro, will affect the macroeconomic situation of the Community, it will not remove the need for eligibility of the beneficiary countries to be based on gross national product;

whereas the European Council furthermore considered that the name of the single currency must be the same in all the official languages of the European Union, taking into account the existence of different alphabets;

Whereas the third sentence of Article 109l (4) of the Treaty, which allows the Council, acting with the unanimity of participating Member States, to take other measures necessary for the rapid introduction of the single currency is available as a legal basis only when it has been confirmed, in accordance with Article 109j (4) of the Treaty, which Member States fulfil the necessary conditions for the adoption of a single currency;

The variables transmitted at the 3-digit and 4-digit levels of NACE Rev.1 are used to produce aggregated indicators at these levels for the Community as a whole and for the group of Member States participating in the single currency.

In adopting Decision of 2003/861/EC concerning analysis and cooperation with regard to counterfeit euro coins the Council provided that it is to have effect in those Member States which have adopted the euro as their single currency.

Council Decision of 8 December 2003 extending the effects of Decision 2003/861/EC concerning analysis and cooperation with regard to counterfeit euro coins to those Member States which have not adopted the euro as their single currency

Type of measure Single cost per hectare Area (*) Amount (national currency) 1.

The introduction of the single currency will have a major impact on the structure of the financial services industry and the cross-border flows of capital, which stresses the importance of information on competitiveness, the internal market and internationalisation.

Whereas the Member States adopting the single currency, hereafter referred to as 'participating Member States`, will, in accordance with Article 109j, have achieved a high degree of sustainable convergence and in particular a sustainable government financial position;

Whereas whenever under Article 109k(2) of the Treaty a Member State becomes a participating Member State, the Council shall according to Article 109l(5) of the Treaty take the other measures necessary for the rapid introduction of the euro as the single currency of this Member State;

To implement that provision, Article 38 of Commission Regulation (EC) No 2771/1999(3), as last amended by Regulation (EC) No 1614/2001(4), provides that, subject to certain conditions, the aid is to be increased or reduced if the maximum buying-in price fixed by invitation to tender expressed in euro or, for the countries not participating in the single currency, in national currency is not the same on the last day of the contract period as on the first.

Council Decision of 17 December 2001 extending the effects of the Decision establishing an exchange, assistance and training programme for the protection of the euro against counterfeiting ("Pericles" programme) to the Member States which have not adopted the euro as the single currency

On the same day the Council also adopted Regulation (EC) No 1339/2001 extending the effects of Regulation (EC) No 1338/2001 laying down measures necessary for the protection of the euro against counterfeiting to those Member States which have not adopted the euro as their single currency(6).

Whereas it is necessary, in the course of the operation of the common market and for the changeover to the single currency, to provide legal certainty for citizens and firms in all Member States on certain provisions relating to the introduction of the euro well before the entry into the third stage;

Pursuant to Council Decision 2000/427/EC of 19 June 2000 in accordance with Article 122(2) of the Treaty on the adoption by Greece of the single currency on 1 January 2001(6) Greece now fulfils the necessary conditions and the derogation in favour of Greece is to be abrogated with effect from 1 January 2001.

Council Regulation (EC) No 974/98 of 3 May 1998 on the introduction of the euro(4) provides for the substitution of the euro for the currencies of the Member States which fulfilled the necessary conditions for the adoption of the single currency at the time when the Community entered the third stage of economic and monetary union.

Where the maximum buying-in price fixed by invitation to tender in accordance with Article 13(2), expressed in euro or, for the countries not participating in the single currency, in national currency, and applying on the day of commencement of contractual storage, is higher than that applying on the last day of contractual storage, the aid determined in accordance with Article 34(2) shall be increased by an amount equal to any reduction in the maximum buying-in price in excess of 2 % of the price applying on the day of commencement of contractual storage.

Since the new Member States have not adopted the single currency, special provisions should be laid down on, among other things, the exchange rate to be used for declarations of expenditure, in derogation from Commission Regulation (EC) No 2808/98 of 22 December 1998 laying down detailed rules for the application of the agrimonetary system for the euro in agriculture(6).

whereas, to this end, the Commission should, in its report on the application of this Directive to be presented no later than three years after the date referred to in Article 11(1), take particular account of the experience gleaned in the application of the Directive by small retail businesses, inter alia, regarding technological developments and the introduction of the single currency;

Whereas according to Article 109f of the Treaty establishing the European Community and Article 2 of the Protocol on the Statute of the European Monetary Institute (EMI), the EMI shall contribute to the realization of the conditions necessary for the transition to the third stage of economic and monetary union by strengthening the coordination of monetary policies with a view to ensuring price stability, making the preparations required for the establishment of the European System of Central Banks (ESCB), for the conduct of a single monetary policy and for the creation of a single currency in the third stage, and overseeing the development of the ECU;

The operative event for the conversion of the amount to be granted under the single area payment scheme into the national currencies of the new Member States shall be 1 July 2004.

It is appropriate to establish specific provisions for the conversion into the national currencies of the new Member States of the amount to be granted in respect of the year 2004 under the single area payment scheme.

In practice, an enterprise often achieves this by applying a single weighted average discount rate that reflects the estimated timing and amount of benefit payments and the currency in which the benefits are to be paid.

whereas the rate applicable on the date of the operative event should be amended to ensure in principle that such aids, premiums and amounts do not undergo any sharp fluctuations on conversion into national currency due to the exchange rate on a single date;

When the customs authorities of a Member State authorize a declarant to furnish or supply at a later date certain details concerning the declaration for free circulation of the goods in the form of a periodic declaration, this authorization may, at the declarant's request, provide that a single rate be used for conversion into that Member State's currency of elements forming part of the customs value as expressed in a particular currency.

However, for the purposes of attaining the goals of the sheep and goat common market organisation, the rate applicable on the date of the operative event should be fixed in such a way as to ensure in principle that such aids, premiums and amounts do not undergo any sharp fluctuations on conversion into national currency due to the exchange rate on a single date.