The Council, acting by a qualified majority of the said Member States, on a proposal from the Commission and after consulting the ECB, shall take the other measures necessary for the rapid introduction of the ECU as the single currency of those Member States.

financing proposals for projects or programmes with a value greater than ECU 2 million, according to a written procedure or a standard procedure, the detailed arrangements for which shall be determined in the rules of procedure referred to in Article 21(2);

In so doing, Member States shall take account of the experience acquired in cooperation within the framework of the European Monetary System (EMS) and in developing the ECU, and shall respect existing powers in this field.

The reports of the Commission and the EMI shall also take account of the development of the ECU, the results of the integration of markets, the situation and development of the balances of payments on current account and an examination of the development of unit labour costs and other price indices.

The rate of progressive increase for quotas referred to in Annex III and for quotas 1 to 5 and 10 to 14 referred to in Annex IV shall be 25 % at the beginning of each year for quotas expressed in ECU, and 20 % at the beginning of each year for quotas expressed in terms of volume.

ECU 13 million from the adjustment of the aggregate total of grants unallocated under the fourth EDF, broken down in accordance with the scale fixed in Article 1(2) of the internal agreement on the financing and administration of the fourth EDF.

ECU 26 million from the adjustment of the aggregate total of grants unallocated under the sixth EDF, broken down in accordance with the scale fixed in Article 1(2) of the internal agreement on the financing and administration of the sixth EDF,

The Conference agrees that the existing monetary relations between Italy and San Marino and the Vatican City and between France and Monaco remain unaffected by the Treaty establishing the European Community until the introduction of the ECU as the single currency of the Community.

The rate of interest shall be that applied by the European Monetary Institute for its transactions in ecu, as published in the "C" series of the Official Journal of the European Communities and in force on the date of the wrong payment, plus three percentage points.

Where the additional commitment referred to in (a) exceeds ECU 4 million but is under 20 % of the initial commitment, the EDF Committee's opinion shall be sought under simplified, expedited procedures to be laid down, on the basis of Commission proposals, when the Rules of Procedure of the EDF Committee are adopted.

The Council may, acting by a qualified majority on a recommendation from the ECB or from the Commission, and after consulting the ECB in an endeavour to reach a consensus consistent with the objective of price stability, adopt, adjust or abandon the central rates of the ECU within the exchange-rate system.

The Council may, acting by a qualified majority on a recommendation from the ECB or from the Commission, and after consulting the ECB in an endeavour to reach a consensus consistent with the objective of price stability, adopt, adjust or abandon the central rates of the ECU within the exchange rate system.

ECU 142 million from the adjustment of the aggregate total of seventh EDF grants which must be considered as unusable for the purposes of programmable aid, broken down in accordance with the scale fixed in Article 1(2) of the internal agreement on the financing and administration of the seventh EDF,

Where the level reached by Portuguese prices for the 1985/86 marketing year, expressed in ECU by means of the conversion rate which was valid at the start of the marketing year of the product concerned, is higher than the level of the common prices, the level of the Portuguese prices may not be increased in relation to its previous level.

Whereas the fourth ACP-EC Convention, signed in Lomé on 15 December 1989 (hereinafter referred to as 'the Convention`), as amended by the Agreement amending the fourth ACP-EC Convention of Lomé, signed in Mauritius on 4 November 1995, set the aggregate amount of Community aid to the ACP States for a five-year period beginning on 1 March 1995 at ECU 14 625 million, comprising ECU 12 967 million from the European Development Fund and ECU 1 658 million the European Investment Bank (hereinafter referred to as 'the Bank`);

ECU 111 million from the adjustment of the aggregate total of seventh EDF grants, decided by the Contracting Parties on the basis of Article 232 of the Convention, broken down in accordance with the scale fixed in Article 1(2) of the internal agreement on the financing and administration of the seventh EDF,

For the purposes of applying the price discipline defined in this paragraph (a), the level of Portuguese prices to be taken into account in the first marketing year following accession shall be the level of Portuguese prices fixed for the 1985/86 marketing year, converted into ECU at the rate valid at the start of that marketing year for the products in question.

Whereas the representatives of the Governments of the Member States meeting within the Council, agreed to set at ECU 165 million the amount of aid from the European Development Fund for the overseas countries and territories to which part four of the Treaty applies (hereinafter referred to as 'the OCT`);

At the starting date of the third stage, the Council shall, acting with the unanimity of the Member States without a derogation, on a proposal from the Commission and after consulting the ECB, adopt the conversion rates at which their currencies shall be irrevocably fixed and at which irrevocably fixed rate the ECU shall be substituted for these currencies, and the ECU will become a currency in its own right.

Whereas the ecu used for the application of this Agreement is defined in Council Regulation (EEC) No 3180/78 of 18 December 1978 changing the value of the unit of account used by the European Monetary Cooperation Fund (1) or, where appropriate, in any subsequent Council Regulation defining the composition of the ecu;

The sum to be transferred shall be determined by multiplying the ECU value at current exchange rates of the foreign reserve assets which have already been transferred to the ECB in accordance with Article 30.1, by the ratio between the number of shares subscribed by the national central bank concerned and the number of shares already paid up by the other national central banks.

Where, in accordance with Article 260 (2), the second stage is of seven years' duration, the prices to be applied in Portugal shall be, until the first of the moves towards alignment referred to in paragraph 2 of this Article, the prices, expressed in ECU, fixed in accordance with the rules provided for under the common organization of the markets in the sector concerned, at the level reached on 31 December 1988 in accordance with the rules for prices discipline set out in point 1 of Article 265.

Furthermore, if the Portuguese prices, expressed in ECU, fixed under the previous national arrangements for the 1985/86 marketing year, lead to the variation existing for the 1984/85 marketing year between the Portuguese prices and the common prices being exceeded, the Portuguese Republic shall fix its prices for subsequent marketing years in such a way that this variation is totally absorbed during the first seven marketing years following accession.

In order to ensure the convergence of economic and monetary policies which is necessary for the further development of the Community, Member States shall co-operate in accordance with the objectives of Article 104. In so doing, they shall take account of the experience acquired in co-operation within the framework of the European Monetary System (EMS) and in developing the ECU, and shall respect existing powers in this field.

However, should application of the foregoing subparagraph lead to Portuguese prices being fixed at a level higher that of the common prices, the level to be adopted for fixing Portuguese prices shall be that corresponding to the prices fixed in Portugal, under the previous national arrangements, for the 1985/86 marketing year, converted by means of the conversion rate into ECU which obtained at the beginning of the marketing year of the product concerned.

If it is decided, according to the procedure set out in Article 122(2), to abrogate a derogation, the Council shall, acting with the unanimity of the Member States without a derogation and the Member State concerned, on a proposal from the Commission and after consulting the ECB, adopt the rate at which the ECU shall be substituted for the currency of the Member State concerned, and take the other measures necessary for the introduction of the ECU as the single currency in the Member State concerned.

If it is decided, according to the procedure set out in Article 109k(2), to abrogate a derogation, the Council shall, acting with the unanimity of the Member States without a derogation and the Member State concerned, on a proposal from the Commission and after consulting the ECB, adopt the rate at which the ECU shall be substituted for the currency of the Member State concerned, and take the other measures necessary for the introduction of the ECU as the single currency in the Member State concerned.

Whereas such reorganisation should take into account the experience gained in applying existing instruments and thus be based on those instruments, which are those implemented under the current priority objectives promoting rural development by speeding up the adjustment of agricultural structures in the framework of the reform of the common agricultural policy and facilitating the development and structural adjustment of rural areas (Objectives 5a and 5b), as laid down in Council Regulation (EEC) No 2052/88 of 24 June 1988 on the tasks of the Structural Funds and their effectiveness and on coordination of their activities between themselves and with the operations of the European Investment Bank and the other existing financial instruments(7) and Council Regulation (EEC) No 4256/88 of 19 December 1988 laying down provisions for implementing Regulation (EEC) No 2052/88 as regards the European Agricultural Guidance and Guarantee Fund (EAGGF) Guidance Section(8), and those introduced as accompanying measures to the 1992 common agricultural policy reform by Council Regulation (EEC) No 2078/92 of 30 June 1992 on agricultural production methods compatible with the requirements of the protection of the environment and the maintenance of the countryside(9), Council Regulation (EEC) No 2079/92 of 30 June 1992 instituting a Community aid scheme for early retirement from farming(10) and Council Regulation (EEC) No 2080/92 of 30 June 1992 instituting a Community aid scheme for forestry measures in agriculture(11);

Moreover, if the Spanish prices, expressed in ECU, fixed under the previous national arrangements for the 1985/86 marketing year have led to an overrun in the variation existing for the 1984/85 marketing year between the Spanish prices and the common prices, the price in Spain resulting from the application of the two preceding subparagraphs shall be reduced by an amount to be determined, equivalent to part of the overrun, so that the overrun is totally absorbed over the first seven marketing years following accession.

Furthermore, if the Portuguese prices, expressed in ECU, fixed under the previous national arrangements for the 1985/86 marketing year, lead to the variation existing for the 1984/85 marketing year between the Portuguese prices and the common prices being exceeded, the price in Portugal resulting from the application of the two preceding subparagraphs shall be reduced by an amount to be determined which is equivalent to a part of the excess, in such a way that the excess is absorbed in full at the latest at the beginning of the fifth marketing year following accession.

Concurrently with the foregoing, and as provided in this Treaty and in accordance with the timetable and the procedures set out therein, these activities shall include the irrevocable fixing of exchange rates leading to the introduction of a single currency, the ECU, and the definition and conduct of a single monetary policy and exchange-rate policy the primary objective of both of which shall be to maintain price stability and, without prejudice to this objective, to support the general economic policies in the Community, in accordance with the principle of an open market economy with free competition.

Concurrently with the foregoing, and as provided in this Treaty and in accordance with the timetable and the procedures set out therein, these activities shall include the irrevocable fixing of exchange rates leading to the introduction of a single currency, the ECU, and the definition and conduct of a single monetary policy and exchange rate policy the primary objective of both of which shall be to maintain price stability and, without prejudice to this objective, to support the general economic policies in the Community, in accordance with the principle of an open market economy with free competition.

ECU 1 000

EAGGF budget heading

ECU 1 500;

EAGGF budget code

Reimbursement requested from EAGGF

ECU 800

(in ecus)

(in thousand ecus)

ECU 300;

ECU 100.

Amount payable by the EAGGF (C Ă- 40) 65

Amount payable by the EAGGF (C × 40) 65

B(l) EAGGF Budget Article or Item No

The date determining the month of declaration to the EAGGF.

the volume of his operations within the EAGGF field,

EAGGF rate of aid (in EUR) per unit of measurement

B(7) Total expenditure by EAGGF budget heading during the EAGGF financial year

Use of the ecu