COMMISSION REGULATION (EC) No 52/2000
of 10 January 2000
on the 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 Community,
Having regard to Council Regulation (EEC) No 1883/78 of 2 August 1978 laying down general rules for the financing of interventions by the European Agricultural Guidance and Guarantee Fund (EAGGF), Guarantee Section(1), as last amended by Regulation (EC) No 1259/96(2), and in particular Article 5 thereof,
Whereas:
(1) Article 3 of Commission Regulation (EEC) No 411/88 of 12 February 1988 on the method and the rate of interest to be used for calculating the costs of financing intervention measures comprising buying-in, storage and disposal(3), as last amended by Regulation (EEC) No 2623/1999(4), lays down that the uniform interest rate used for calculating the costs of financing intervention measures is to correspond to the three months' and twelve months' forward Euribor rates with a weighting of one third and two thirds respectively;
(2) the Commission fixes this rate before the beginning of each EAGGF Guarantee Section accounting year on the basis of the rates recorded in the six months preceding fixing;
(3) Article 4(1) of Regulation (EEC) No 411/88 lays down that if the rate of interest costs borne by a Member State is lower for at least six months than the uniform interest rate fixed for the Community a specific interest rate is to be fixed for that Member State; the Member State notified these costs to the Commission before the end of the accounting year; where no costs are notified by a Member State, the rate to be applied is determined on the basis of the reference interest rates set out in the Annex to the said Regulation;
(4) the interest rates for the 2000 accounting year must be set, in line with those provisions;
(5) the measures provided for in this Regulation are in accordance with the opinion of the EAGGF Committee,
HAS ADOPTED THIS REGULATION:
Article 1
For expenditure incurred during the 2000 EAGGF Guarantee Section accounting year:
1. the interest rate referred to in Article 3 of Regulation (EEC) No 411/88 shall be 2,9 %;
2. the specific interest rate referred to in Article 4 of Regulation (EEC) No 411/88 shall be 2,6 % for Ireland, and 2,7 % for Austria.
Article 2
This Regulation shall enter into force on the day of its publication in the Official Journal of the European Communities.
It shall apply from 1 October 1999.
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 10 January 2000.