commiss regul ec adjust compensatori agrimonetari aid grant unit kingdom commiss european commun regard treati establish european commun regard council regul ec decemb establish agrimonetari arrang euro articl thereof maximum amount compensatori aid result exchang rate pound sterl applic decemb januari fix commiss regul ec maximum amount compensatori aid appreci revalu pound sterl fix commiss regul ec compensatori aid result exchang rate applic direct aid structur environment measur articl regul ec lai amount paid tranch aid reduc vi vi level previou tranch amount paid tranch articl regul lai maximum amount compensatori aid reduc cancel function effect incom develop exchang rate record dai tranch examin exchang rate pound sterl fix commiss regul ec march fix exchang rate applic direct aid structur environment measur depreci currenc unit kingdom tranch compensatori aid oper event fall decemb januari cancel compensatori aid appreci revalu nation currenc articl regul ec lai amount paid tranch reduc vi vi level previou tranch amount paid tranch amount paid tranch reduc cancel function effect incom develop exchang rate record begin month preced month relev tranch take account market situat observ period examin averag exchang rate fix pound sterl march januari depreci currenc period payment tranch compensatori aid unit kingdom appreci evalu pound sterl cancel measur provid regul accord opinion manag committe concern adopt regul articl maximum amount tranch compensatori aid unit kingdom provid regul ec relat aid oper event fall decemb januari cancel articl maximum amount tranch compensatori aid unit kingdom provid articl regul ec appreci evalu pound sterl cancel articl regul enter forc seventh dai public offici journal european union regul bind entireti directli applic member state brussel commiss franz fischler member commiss oj oj oj oj