13.12.2005

EN

Official Journal of the European Union

C 316/1

---

Euro exchange rates (1)

12 December 2005

(2005/C 316/01)

1 euro=

	Currency	Exchange rate
USD	US dollar	1,1925
JPY	Japanese yen	143,46
DKK	Danish krone	7,4487
GBP	Pound sterling	0,67430
SEK	Swedish krona	9,4405
CHF	Swiss franc	1,5413
ISK	Iceland króna	75,32
NOK	Norwegian krone	7,9775
BGN	Bulgarian lev	1,9558
CYP	Cyprus pound	0,5733
CZK	Czech koruna	29,090
EEK	Estonian kroon	15,6466
HUF	Hungarian forint	254,45
LTL	Lithuanian litas	3,4528
LVL	Latvian lats	0,6970
MTL	Maltese lira	0,4293
PLN	Polish zloty	3,8387
RON	Romanian leu	3,6438
SIT	Slovenian tolar	239,51
SKK	Slovak koruna	38,020
TRY	Turkish lira	1,6118
AUD	Australian dollar	1,5831
CAD	Canadian dollar	1,3747
HKD	Hong Kong dollar	9,2469
NZD	New Zealand dollar	1,6836
SGD	Singapore dollar	2,0053
KRW	South Korean won	1 232,03
ZAR	South African rand	7,5615
CNY	Chinese yuan renminbi	9,6318
HRK	Croatian kuna	7,3933
IDR	Indonesian rupiah	11 631,65
MYR	Malaysian ringgit	4,503
PHP	Philippine peso	63,936
RUB	Russian rouble	34,2870
THB	Thai baht	49,177

---

(1)  

Source: reference exchange rate published by the ECB.

---

13.12.2005

EN

Official Journal of the European Union

C 316/2

---

Authorisation for State aid pursuant to Articles 87 and 88 of the EC Treaty

Cases where the Commission raises no objections

(2005/C 316/02)

(Text with EEA relevance)

Date of adoption:

Member State: Denmark

Aid No: N 269/05

Title in original language: High Technology Foundation

Objective: Research and development — All sectors

Legal basis: Lov nr. 1459 af 22. December 2004

Maximum aid intensity: 100 %, 75 %, 50 %

Duration: 2005-2010

The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:

http://europa.eu.int/comm/secretariat_general/sgb/state_aids/

Date of adoption:

Member State: Italy (Marche)

Aid No: N 299/2004

Title: Cooperative equity financing

Objective: The scheme intends to address the lack of equity funding for cooperative SMEs in the region Marche

Legal basis: Progetto di Deliberazione della Giunta regionale per l'adozione del «Quadro attuativo dell'articolo 3 della LR N. 5/2003»

Budget: EUR 10 million

Duration:

The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:

http://europa.eu.int/comm/secretariat_general/sgb/state_aids/

Date of adoption:

Member State: Germany (Land Schleswig-Holstein)

Aid No: N 307/2005

Title in original language: Nord Power Innovationspark Lübeck

Objective: Research and development — Regional development — Environmental protection (Limited to electricity, gas and water supply)

Legal basis: Jährliches Haushaltsgesetz des Landes Schleswig-Holstein: Einzelplan 0602, TG 62 (MWV)

Budget: EUR 541 170

Maximum aid intensity: 30 %

Duration: 2005-2006

The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:

http://europa.eu.int/comm/secretariat_general/sgb/state_aids/

Date of adoption of the decision:

Member State: United Kingdom (Scotland)

Aid No: N 680/2001

Title: Property Support Scheme

Objective: Supporting the development of premises and buildings for commercial purposes by the private sector. (Firms operating in the property development sector and, as far as the end-users of the subsidised premises are concerned, firms operating in any sector.)

Legal basis: Enterprise and New Towns (Scotland) Act 1990, as amended on 1 April 2001 by Scottish Statutory Instrument 2001 No 126. Local Government Act 1973. Section 171 of Local Government Act etc (Scotland) Act 1994

Budget: GBP 20-23 million annually

Aid intensity or amount: Maximum intensity in conformity with regional aid map and Regulation (EC) No 70/2001

Duration: Until 31.12.2006

Other information: Annual implementation report

The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:

http://europa.eu.int/comm/secretariat_general/sgb/state_aids/

Date of adoption of the decision:

Member State: Belgium

Aid No: NN 136/03

Title: Belgian Sectoral Funds

Objective: Participation by undertakings in achieving social objectives according to the needs of their area of activity

Legal basis: Wet van 7 januari 1958 betreffende de fondsen voor bestaanszekerheid

Loi du 7 janvier 1958 concernant les Fonds de sécurité d'existence

Duration: Variable, according to the collective bargaining and joint trade agreements applicable to the different areas of activity

Other information: The State is not involved in the setting-up and working of the funds or in their financing and administration.

Form of the aid: Not applicable. The undertakings in a given area of activity will contribute to training costs, according to need, through the voluntary setting-up by both sides of industry in that area of a sectoral fund and through a contribution to that fund

The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:

http://europa.eu.int/comm/secretariat_general/sgb/state_aids/

---

13.12.2005

EN

Official Journal of the European Union

C 316/4

---

Information communicated by Member States regarding State aid granted under Commission Regulation (EC) No 70/2001 of 12 January 2001, as amended by Commission Regulation (EC) No 364/2004 of 25 February 2004, on the application of Articles 87 and 88 of the EC Treaty to State aid to small and medium-sized enterprises

(2005/C 316/03)

(Text with EEA relevance)

Aid No	XS 8/04
Member State	Austria
Region	Municipality of Kapfenberg, NUTS III region eastern Upper Styria
Title of aid scheme or name of company receiving individual aid	Inner-city support of the municipality of Kapfenberg
Legal basis	Innenstadtförderungsrichtlinie gemäß Beilage (Innenstadtförderung der Stadt Kapfenberg) Beihilfenrelevant nach KMU-Freistellung sind die Punkte: 3.3. Maßnahmen zur Verbesserung und Attraktivierung von Geschäftslokalen und Außenanlagen 3.6. Planungs- und Beratungsleistungen
Annual expenditure planned or overall amount of individual aid granted to the company	Aid scheme	Annual overall amount	EUR 0,8 million
		Loans guaranteed
	Individual aid	Overall aid amount
		Loans guaranteed
Maximum aid intensity	In conformity with Articles 4(2)-(6) and 5 of the Regulation		Yes
Date of implementation	1.8.2004 for points 3.3 and 3.6 of the aid scheme
Duration of scheme or individual aid award	Until 31.12.2006
Objective of aid	Aid to SMEs		Yes
Economic sectors concerned	All sectors eligible for aid to SMEs		Yes
Name and address of the granting authority	Name: Stadtgemeinde Kapfenberg
	Address: Koloman-Wallisch-Platz 1 A-8605 Kapfenberg
Large individual aid grants	In conformity with Article 6 of the Regulation		Yes

Aid No	XS 84/04
Member State	United Kingdom
Region	West Wales and the Valleys Objective 1 Area
Title of aid scheme or name of company receiving individual aid	Amgen Cymru (Cynon Valley Waste Disposal Co. Ltd) — Bryn Pica Recycling Center
Legal basis	The Industrial Development Act 1982
Annual expenditure planned under the scheme or overall amount of individual aid granted to the company	Aid scheme	Annual overall amount
		Loans guaranteed
	Individual aid	Overall aid amount	GBP 510 000
		Loans guaranteed
Maximum aid intensity	In conformity with Articles 4(2)-(6) and 5 of the Regulation		Yes
Date of implementation	From 26.8.2004
Duration of scheme or individual aid award	Until 31.8.2006
Objective of aid	Aid to SMEs		Yes
Economic sectors concerned	Limited to specific sectors		Yes
	Other services (recycling)		Yes
Name and address of the granting authority	Name: Welsh European Funding Office
	Address: Cwm Cynon Business Park Mountain Ash, CF45 4ER
Large individual aid grants	In conformity with Article 6 of the Regulation		Yes

Aid No	XS 88/04
Member State	Germany
Region	Brandenburg
Title of aid scheme or name of company receiving individual aid	Guidelines of the Brandenburg Ministry for Economic Affairs of 31 March 2004 to encourage the efficient use of energy and to foster the utilization of renewable sources of energy
Legal basis	§§ 44, 23 der Landeshaushaltsordnung (LHO) sowie die hierzu ergangenen Verwaltungsvorschriften in der jeweils gültigen Fassung
Annual expenditure planned or overall amount of individual aid granted to the company	Aid scheme	Annual overall amount	approx. EUR 2 million
		Loans guaranteed
	Individual aid	Overall aid amount
		Loans guaranteed
Maximum aid intensity	In conformity with Articles 4(2)-(6) and 5 of the Regulation		Yes
Date of implementation	Entry into force of the guidelines on 6 May 2004
Duration of scheme or individual aid award	Until 31 December 2006 (final date for the granting of aid)
Objective of aid	Aid to SMEs		Yes
Economic sectors concerned	All sectors eligible for aid to SMEs		Yes
Name and address of the granting authority	Name: Investitionsbank des Landes Brandenburg (ILB)
	Address: Steinstraße 104 — 106 D-14480 Potsdam
Large individual aid grants	In conformity with Article 6 of the Regulation		Yes

Aid No	XS 91/04
Member State	United Kingdom
Region	West Wales and the Valleys Objective 1 Area
Title of aid scheme or name of company receiving individual aid	Court Vale Developments Ltd.
Legal basis	Industrial Development Act 1982
Annual expenditure planned under the scheme or overall amount of individual aid granted to the company	Aid scheme	Annual overall amount
		Loans guaranteed
	Individual aid	Overall aid amount	GBP 198 050
		Loans guaranteed
Maximum aid intensity	In conformity with Articles 4(2)-(6) and 5 of the Regulation		Yes
Date of implementation	From 1.1.2005
Duration of scheme or individual aid award	Until 31.12.2006
Objective of aid	Aid to SMEs		Yes
Economic sectors concerned	All sectors eligible for aid to SMEs		Yes
Name and address of the granting authority	Name: Welsh European Funding Office
	Address: Cwm Cynon Business Park Mountain Ash CF45 4ER
Large individual aid grants	In conformity with Article 6 of the Regulation		Yes

Aid No	XS 95/04
Member State	Germany
Region	n.a
Title of aid scheme or name of company receiving individual aid	Support for innovation in SMEs through better access to current data in the areas of science, technology and the economy
Legal basis	§ 44 Bundeshaushaltsordnung (BHO)
Annual expenditure planned or overall amount of individual aid granted to the company	Aid scheme	Annual overall amount	EUR 0,6—1 million
		Loans guaranteed
	Individual aid	Overall aid amount
		Loans guaranteed
Maximum aid intensity	In conformity with Articles 4(2)-(6) and 5 of the Regulation		Yes
Date of implementation	1.3.2005
Duration of scheme or individual aid award	Until 31.12.2006
Objective of aid	Aid to SMEs		Yes
Economic sectors concerned	All sectors eligible for aid to SMEs		Yes
Name and address of the granting authority	Name: Ministry for Economic Affairs and Labour Referat VI B 4
	Address: Scharnhorststraße 34 — 37 D-10115 Berlin
Large individual aid grants	In conformity with Article 6 of the Regulation		Yes

Aid No	XS 96/04
Member State	Germany
Region	n.a
Title of aid scheme or name of company receiving individual aid	Support for medium-sized application projects as part of the Ministry for Economic Affairs and Labour initiative: FIT for knowledge-based competition
Legal basis	§ 44 Bundeshaushaltsordnung (BHO)
Annual expenditure planned or overall amount of individual aid granted to the company	Aid scheme	Annual overall amount	EUR 0,75—1,25 million
		Loans guaranteed
	Individual aid	Overall aid amount
		Loans guaranteed
Maximum aid intensity	In conformity with Articles (2)-(6) and 5 of the Regulation		Yes
Date of implementation	1.3.2005
Duration of scheme or individual aid award	Until 31.12.2006
Objective of aid	Aid to SMEs		Yes
Economic sectors concerned	All sectors eligible for aid to SMEs		Yes
Name and address of the granting authority	Name: Ministry for Economic Affairs and Labour Referat VI B 4
	Address: Scharnhorststraße 34 — 37 D-10115 Berlin
Large individual aid grants	In conformity with Article 6 of the Regulation		Yes

Aid No	XS 98/04
Member State	United Kingdom
Region	West Wales & The Valleys Objective 1 Region
Title of aid scheme or name of company receiving individual aid	Welsh Application Service Provider (WASP): Phase 11
Legal basis	Industrial Development Act 1982
Annual expenditure planned under the scheme or overall amount of individual aid granted to the company	Aid scheme	Annual overall amount	GBP 544 407
		Loans guaranteed
	Individual aid	Overall aid amount
		Loans guaranteed
Maximum aid intensity	In conformity with Articles 4(2)-(6) and 5 of the Regulation		Yes
Date of implementation	From 1.8.2004
Duration of scheme or individual aid award	Until 31.12.2006 NB: As noted above, the Grant was committed prior to 31 December 2006. Payments against this commitment will, potentially (in line with N+2), continue until 31 July 2007
Objective of aid	Aid to SMEs		Yes
Economic sectors concerned	All sectors eligible for aid to SMEs		Yes
Name and address of the granting authority	Name: Welsh European Funding Office
	Address: Cwm Cynon Business Park Mountain Ash CF45 4ER
Large individual aid grants	In conformity with Article 6 of the Regulation		Yes

Aid No	XS 101/04
Member State	United Kingdom
Region	England
Title of aid scheme or name of company receiving individual aid	Business Development Credits
Legal basis	Appropriation Act 2004
Annual expenditure planned under the scheme or overall amount of individual aid granted to the company	Aid scheme	Annual overall amount	GBP 2 million
		Loans guaranteed
	Individual aid	Overall aid amount	GBP 3 000 per SME
		Loans guaranteed
Maximum aid intensity	In conformity with Articles 4(2)-(6) and 5 of the Regulation		Yes
Date of implementation	From October 2004
Duration of scheme or individual aid award	Until 30.6.2007
Objective of aid	Aid to SMEs		Yes
Economic sectors concerned	All sectors eligible for aid to SMEs		Yes
Name and address of the granting authority	Name: United Kingdom Trade & Investment
	Address: Antonia Yeolanda Lopes International Trade Development Group, Regional Directorate/TDU 7th Floor, Kingsgate House 66-74 Victoria Street London SW1E 6SW
Large individual aid grants	In conformity with Article 6 of the Regulation		Yes

Aid No	XS 129/04
Member State	Poland
Region	All 16 provinces
Title of aid scheme or name of company receiving individual aid	Non-repayable financial aid granted by the regional funding body for consultancy services designed to bring companies into line with Polish standards or EU legislation in the occupational health and safety field
Legal basis	Art. 6 ustawy z dnia 9 listopada 2000 r. o utworzeniu Polskiej Agencji Rozwoju Przedsiębiorczości. § 24 ustęp 3 punkt 4 Rozporządzenia Ministra Gospodarki i Pracy z dnia 17 sierpnia 2004 r. w sprawie udzielania przez Polską Agencję Rozwoju Przedsiębiorczości pomocy finansowej niezwiązanej z programami operacyjnymi
Annual expenditure planned or overall amount of individual aid granted to the company	Aid scheme	Annual overall amount	EUR 1,55 million
		Loans guaranteed
	Individual aid	Overall aid amount
		Loans guaranteed
Maximum aid intensity	In conformity with Articles 4(2)-(6) and 5 of the Regulation		Yes
Date of implementation	28.8.2004 — the day on which the Decree entered into force
Duration of scheme or individual aid award	Until 31.7.2005
Objective of aid	Aid to SMEs		Yes
Economic sectors concerned	All sectors eligible for aid to SMEs		Yes
Name and address of the granting authority	Name: Regional funding bodies (1)
Large individual aid grants	In conformity with Article 6 of the Regulation		Yes

Aid No	XS 131/04
Member State	Poland
Region	13 provinces (Dolnośląskie, Kujawsko-Pomorskie, Lubelskie, Lubuskie, Łódzkie, Małopolskie, Opolskie, Podkarpackie, Podlaskie, Pomorskie, Świętokrzyskie, Warmińsko-Mazurskie, Zachodniopomorskie)
Title of aid scheme or name of company receiving individual aid	Non-repayable financial aid awarded by the regional funding body for the purchase of consultancy services
Legal basis	Art. 6 ustawy z dnia 9 listopada 2000 r. o utworzeniu Polskiej Agencji Rozwoju Przedsiębiorczości. § 24 ustęp 3 punkt 1, 2, 3 Rozporządzenia Ministra Gospodarki i Pracy z dnia 17 sierpnia 2004 r. w sprawie udzielania przez Polską Agencję Rozwoju Przedsiębiorczości pomocy finansowej niezwiązanej z programami operacyjnymi
Annual expenditure planned or overall amount of individual aid granted to the company	Aid scheme	Annual overall amount	EUR 9,57 million
		Loans guaranteed
	Individual aid	Overall aid amount
		Loans guaranteed
Maximum aid intensity	In conformity with Articles 4(2)-(6) and 5 of the Regulation		Yes
Date of implementation	28.8.2004 — the day on which the Decree entered into force
Duration of scheme or individual aid award	Until 30.11.2005
Objective of aid	Aid to SMEs		Yes
Economic sectors concerned	All sectors eligible for aid to SMEs		Yes
Name and address of the granting authority	Name: Regionalne Instytucje Finansujące (2)
Large individual aid grants	In conformity with Article 6 of the Regulation		Yes

Aid No	XS 132/04
Member State	Poland
Region	All 16 provinces
Title of aid scheme or name of company receiving individual aid	Financial assistance awarded to businesses in the form of non-repayable financial aid for investment purposes
Legal basis	Art. 6 ustawy z dnia 9 listopada 2000 r. o utworzeniu Polskiej Agencji Rozwoju Przedsiębiorczości. § 5 punkt 2 Rozporządzenia Ministra Gospodarki i Pracy z dnia 17 sierpnia 2004 r. w sprawie udzielania przez Polską Agencję Rozwoju Przedsiębiorczości pomocy finansowej niezwiązanej z programami operacyjnymi
Annual expenditure planned or overall amount of individual aid granted to the company	Aid scheme	Annual overall amount	EUR 10,67 million
		Loans guaranteed
	Individual aid	Overall aid amount
		Loans guaranteed
Maximum aid intensity	In conformity with Articles 4(2)-(6) and 5 of the Regulation		Yes
Date of implementation	28.8.2004 — the day on which the Decree entered into force
Duration of scheme or individual aid award	Until 30.11.2005
Objective of aid	Aid to SMEs		Yes
Economic sectors concerned	All sectors eligible for aid to SMEs		Yes
Name and address of the granting authority	Name: Polish Agency for Enterprise Development
	Address: Ul. Pańska 81/83 00-834 Warsaw
Large individual aid grants	In conformity with Article 6 of the Regulation		Yes

---

(1)  Regional funding bodies granting aid:

(2)  Regional funding Bodies

---

13.12.2005

EN

Official Journal of the European Union

C 316/12

---

Information communicated by Member States regarding State aid granted under Commission Regulation (EC) No 68/2001 of 12 January 2001 on the application of Articles 87 and 88 of the EC Treaty to training aid

(2005/C 316/04)

(Text with EEA relevance)

Aid No: XT 10/03

Member State: United Kingdom and Republic of Ireland

Region: 32 Counties of the island of Ireland — Northern Ireland and Republic of Ireland

Title of aid scheme or name of company receiving an individual aid: FOCUS

Legal basis: British/Irish Agreement Act 1999, Section 2.3 Part 7 of Annex 2 of the Act empowers InterTradeIreland to invest, lend or grant aid for the purposes of its function

Annual expenditure planned under the scheme or overall amount of individual aid granted to the company: Maximum cost per company

2002: GBP 25 400

2003: GBP 25 400

Maximum total funded element

2002: GBP 254 000

2003: GBP 254 000

Notes:

20 projects will be established and implemented during 2002-2004. Cost per project is GBP 25 400 over 12-month duration. The GBP 25 400 per project is paid in quarterly instalments over the 12-month period. Annual expenditure for the overall FOCUS scheme of 20 projects is calculated on the basis that the projects will commence mid-2002 and be completed mid-2003. Therefore, spend is apportioned across the two years

Total funding element for 20 projects over 2 years = GBP 508 000. This represents 65 % of the total project cost with the remaining 35 % attributed by the participating enterprises

Maximum aid intensity: Up to a maximum of GBP 25 400 assistance per project per annum representing 65 % aid intensity

Date of implementation, duration: Proposed scheme to run for 2 years from date of approval.

Individual companies will be eligible for assistance for a maximum of 12 months

Objective of aid: The objective of the aid is to train high-calibre graduates in sales and marketing with a view to preparing them for senior management. The training is general as it is generic to all participating graduates and provides skills which are transferable across industry.

It is intended that the FOCUS programme will provide participating graduates with part or full accreditation towards membership of relevant professional bodies, such as the Chartered Institute of Marketing and/ or the Marketing Institute of Ireland

Economic sector(s) concerned: All sectors

Name and address of the granting authority:

InterTradeIreland

The Old Gasworks Business Park

Kilmorey Street

Newry

Co Down

Northern Ireland

BT34 2DE

---

13.12.2005

EN

Official Journal of the European Union

C 316/13

---

Information communicated by Member States regarding State aid granted under Commission Regulation (EC) No 2204/2002 of 12 December 2002 on the application of Articles 87 and 88 of the EC Treaty to State aid for employment

(2005/C 316/05)

(Text with EEA relevance)

Aid No	XE 17/04
Member State	Italy
Region	Valle d'Aosta
Title of aid scheme or name of company receiving individual aid	Three-year plan for labour policy and professional training 2004-06
Legal basis	D.C.R. n. 666/XII del 9.6.2004 D.G.R. n. 2712 del 9.8.2004
Annual expenditure planned or overall amount of individual aid granted to the company	Annual overall amount	EUR 4,2 million
	Loans guaranteed
Maximum aid intensity	In conformity with Articles 4(2)-(5), 5 and 6 of the Regulation	Yes
Date of implementation	9.8.2004
Duration of scheme or individual aid award	Until 31.12.2006
Objective of aid	Art. 4: Creation of employment	No
	Art. 5: Recruitment of disadvantaged and disabled workers	Yes
	Art. 6: Employment of disabled workers	Yes
Economic sectors concerned	— All Community sectors (1) eligible for employment aid	Yes
	— All manufacturing (1)	Yes
	— All services (1)	Yes
	— Other	Yes
Name and address of the granting authority	Name: Autonomous region of Valle d'Aosta Assessorato Attività Produttive e Politiche del Lavoro Dipartimento delle politiche del lavoro Direzione Agenzia regionale del Lavoro
	Address: Via Garin, 1 — I-11100 Aosta
Other information	The aid scheme is co-financed under Regional Operational — Programme Obj. 3 ESF 2000-06 Decision C (2000) 2067 of 21 September 2000 Decision C (2004) 2915 of 20 July 2004
Aid subject to prior notification to the Commission	In conformity with Article 9 of the Regulation	Yes

---

(1)  With the exception of the shipbuilding sector and of other sectors subject to special rules in regulations and directives governing all State aid within the sector.

---

13.12.2005

EN

Official Journal of the European Union

C 316/14

---

Information communicated by Member States regarding State aid granted under Commission Regulation (EC) No 70/2001 of 12 January 2001 on the application of Articles 87 and 88 of the EC Treaty to State aid to small and medium-sized enterprises

(2005/C 316/06)

(Text with EEA relevance)

Aid No	XS 67/03
Member State	Greece
Region	All regions (13)
Title of aid scheme or name of company receiving individual aid	Schemes of assistance under the Community support framework 2000-2006 towards integrated rural development programmes
Legal basis	Κοινή υπουργική απόφαση 505/2002 αριθ. πρωτοκόλου 305875/8404 (ΦΕΚ 1488/28.11.2002 Τεύχος Β')
Annual expenditure planned or overall amount of individual aid granted to the company	Aid is to be granted for the first time in July 2003, and a fresh call is to be made within the period of application of the 2000-2006 programmes. The estimated public spending for all calls and all programmes together will amount to EUR 485 000 000
Maximum aid intensity	Schemes of assistance towards integrated rural development programmes
	(the rates are in line with the relevant regional aid map and with Regulation (EC) No 70/2001 on SMEs, expressed in nge, with the addition of the 15 percentage points in aid allowed by Article 4(3)(b) of Regulation (EC) No 70/2001, which applies in all Greek regions in accordance with Article 87(3)(a) of the EC Treaty)	Rates of assistance
	North Aegean, South Aegean, the Region of Attica, the Eparchy of Trizinia, the islands of Kithira and Antikithira, Epirus, East Macedonia, the Ionian Islands, the Peloponnese, and all the Greek islands with the exception of Crete	60 %
	Central Macedonia, Thessaly, Continental Greece, Northern Greece and Crete	55 %
	Central Macedonia, Attica	50 %
	Note The aid is granted for the establishment and modernisation of microenterprises, within the meaning of Annex 1 to Regulation (EC) No 70/2001, in manufacturing, craft industry, cottage industry and agri-tourism, with a view to the diversification of the local economy and the reduction of its dependence on the primary sector and agricultural activities
Date of implementation	The aid will be granted from July 2003
Duration of scheme or individual aid award	Aid may be paid under the scheme until 31 December 2008, subject to renewal of the authorisation of expenditure by the EU
Objective of aid	The objective pursued is the retention, attraction, and invigoration of economic activity in mountain, hill and less-favoured districts in the areas covered by integrated rural development aid programmes
Economic sectors concerned	141 Quarrying of stone for construction 153.3 Manufacture of sugar confectionery products from fruit and vegetables 155.2 Manufacture of ice cream 158.1 Manufacture of bread; manufacture of fresh pastry goods and cakes 158.5 Manufacture of macaroni, noodles, couscous and similar farinaceous products 158.6 Processing of tea and coffee 158.7 Production of condiments and seasonings 159.1 Manufacture of distilled potable alcoholic beverages 159.2 Production of ethyl alcohol from fermented materials 159.6 Manufacture of beer 159.7 Manufacture of malt 159.8 Production of mineral waters and soft drinks 17 Manufacture of textiles and textile materials 18 Manufacture of wearing apparel; dressing and dyeing of fur 19 Tanning and dressing of leather; manufacture of luggage, handbags, saddlery, harness and footwear 20 Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials 212.1 Manufacture of corrugated paper and paperboard and of containers of paper and paperboard 212.3 Manufacture of paper stationery 221.9 Other publishing 222.9 Other activities related to printing 241.2 Manufacture of dyes and pigments 245.1 Manufacture of soaps and detergents, cleaning and polishing preparations 245.2 Manufacture of perfumes and toilet preparations 246.3 Manufacture of essential oils 263 Manufacture of ceramic tiles and flags 266.2 Manufacture of plaster products for construction purposes 267 Cutting, shaping and finishing of stone 285 Treatment and coating of metals; general mechanical engineering undertaken on a fee or contract basis 286 Manufacture of cutlery, tools and general hardware 287 Manufacture of other fabricated metal products 29 Manufacture of machinery and equipment not elsewhere classified 36 Manufacture of furniture; manufacturing not elsewhere classified 55 Hotels and restaurants 633 Activities of travel agencies and tour operators; tourist assistance activities 748.2 Packaging activities 923 Other entertainment activities 925 Libraries, archives, museums and other cultural activities 926 Sporting activities 927.2 Other recreational activities not elsewhere classified 930.2 Hairdressing and other beauty treatment
Name and address of the granting authority	Name: Ministry of Agriculture
	Address: Αcharon 2, Athens GR-10176
Other information	It is estimated that the amount of aid will not exceed EUR 264 000 in any one case, and that the average amount will not be greater than EUR 130 000.

---

13.12.2005

EN

Official Journal of the European Union

C 316/16

---

Publication of an application for registration pursuant to the second subparagraph of Article 8(1) of Council Regulation (EEC) No 2082/92 on certificates of specific character

(2005/C 316/07)

This publication confers the right to object to the application pursuant to Articles 8 and 9 of the abovementioned Regulation. Any objection to the application must be submitted to the competent authority in the Member State concerned within a time limit of five months from the date of this publication. Supporting arguments for publication are set out below, in particular under points 4.2, 4.3 and 4.4, and are considered to justify the application within the meaning of Regulation (EEC) No 2082/92.

APPLICATION FOR THE REGISTRATION OF A CERTIFICATE OF SPECIFIC CHARACTER

COUNCIL REGULATION (EEC) No 2082/92

‘BOERENKAAS’

EC number: NL/00023/25.06.2003

1.   Competent authority:

Name:	Hoofdproductschap Akkerbouw (HPA)
Address:	Postbus 29739 2502 LS Den Haag Nederland
Tel.:	070-370 85 02
Fax:	070-370 84 44

2.   Applicant group:

2.1.   Name: Bond van Boerderijzuivelbereiders

2.2.   Address:

Postbus 29773

2502 LT Den Haag

Nederland

Tel.: (070) 338 29 60

Fax: (070) 338 28 12

2.3   Composition: manufacturers/processors (X) other ( )

The Bond van Boerderijzuivelbereiders represents the general interests of its members, i.e. dairy farmers and manufacturers of farm dairy products.

The members of the Bond van Boerderijzuivelbereiders (BBZ) are manufacturers of farm dairy products using milk from their own herd (cattle, goats or sheep) to make cheese and other dairy products. The BBZ has 420 members, of whom more than 350 make Boerenkaas.

3.   Type of product:

semi-hard or hard cheese made from raw milk

4.   Specification:

(summary of requirements under Article 6(2))

4.1.   Name: ‘Boerenkaas’ (only in Dutch)

4.2.   Special production or manufacturing method: Boerenkaas is a cheese made on the farm from raw milk from cattle, goats, sheep or buffalo. At least half of the milk must come from the farm's own herd. Milk may be bought in from no more than two other dairy farms, but the total quantity bought in may not be greater than the farmer's own production.

The raw material used may be:

The milk used must not have undergone heat treatment above 40 °C; the phosphatase activity must be compatible with that of the raw milk used.

The milk must be processed into cheese within 40 hours of milking.

Auxiliary materials and additives

Manufacturing process

The raw milk is curdled at a temperature of approximately 30 °C within 40 hours of milking.

A mixed strain culture of lactic acid bacteria brings about acidification.

After cutting, stirring and draining off part of the whey, the whey and curd mixture is washed once or twice with hot water, raising the temperature of the mixture to no more than 37 °C.

After processing, the curd is placed in cheese moulds.

Before or during pressing a casein mark is put on the cheese bearing the name Boerenkaas, possibly supplemented by the name of the type of milk.

After pressing and acidification over a number of hours, the cheese is soaked in a brine solution of 18 to 22 % common salt (sodium chloride).

The minimum ripening period on the farm is 13 days after the day on which processing began at a temperature of at least 12 °C.

To obtain its fully characteristic flavour, Boerenkaas is left to ripen further in the ripening room on the farm or on the cheese merchant's premises. The length of the ripening process varies from a few weeks to over a year.

4.3.   Traditional character: The name ‘Boerenkaas’ is specifically linked to a product traditionally made on the farm from raw milk obtained mainly from the farm's own herd.

Up to 1874 all milk was processed on the farm. After that, milk gradually began to be industrially processed. Milk used in cheese-making began to be pasteurised in the first few years of the twentieth century. Pasteurisation meant that the character of dairy-made cheese was lost. On the farm, the traditional method of processing raw milk continued.

As a result of enzymes naturally present in milk, i.e. milk lipase, and the presence of a bacteria flora that enters the milk during and after milking, the cheese made from this raw milk has more taste, described as fuller, stronger and tangier. For many consumers, this is what distinguishes the taste of Boerenkaas from ‘industrially-made’ cheese. The taste becomes stronger as ripening progresses.

In 1982 new rules were laid down by the Decree and Order on Cheese Products based on the Agricultural Quality Act, relating to cheese quality, the origin of the milk and the method of production. The special quality label guarantees that Boerenkaas is a farm product, is made from raw milk, is kept for only a short period and comes mainly from the farm's own herd.

This legislation also introduces the possibility of using milk from goats, sheep and buffalo in addition to cow's milk and making cheese from raw milk with a lower fat content.

The aforementioned illustrates the specific character of the raw materials used and of the method of production.

4.4.   Product description: Boerenkaas is a (semi-) hard cheese made from raw milk from cattle, goats, sheep or buffalo. The fat content of Boerenkaas varies depending on the fat content of the milk used.

The cheese may contain cumin or other seeds, herbs and/or spices.

The older the cheese becomes and the longer it ripens, the firmer and drier it becomes, thus producing hard cheese.

Examples of names of products are Goudse Boerenkaas, Goudse Boerenkaas met kruiden, Edammer Boerenkaas, Leidse Boerenkaas, Boerenkaas van geitenmelk and Boerenkaas van schapenmelk.

Summary of characteristic properties and composition of Boerenkaas

4.5.   Minimum requirements and inspection procedures to which specific character is subject: At present the rules on Boerenkaas are laid down in the Decree and Order on Cheese Products based on the Agricultural Quality Act relating to cheese quality, the origin of the milk and the method of production. The special quality label guarantees that Boerenkaas is a farm product, and is made from raw milk which is kept for only a short time and comes mainly from the farm's own herd.

The requirements of this dossier, as described in section 4.2 (special production or manufacturing method) and in the table in section 4.4 (characteristic properties and composition), apply to Boerenkaas with a certificate of specific character under Council Regulation (EEC) No 2082/92. These are laid down in the Agricultural Quality Order for dairy products and the Agricultural Quality Order for cheese.

Every six to eight weeks each farm is inspected to ensure that fresh raw milk (not more than 40 hours old) is used in cheese-making and check use of the casein mark. Once per year administrative checks are performed to verify from which farms the milk used comes. Checks for compliance with the composition requirements cover the fat content in dry matter, moisture content and salt content in dry matter. These parameters are checked six to eight times per year.

In addition to this, the inspection procedure is designed to check for compliance with the other characteristic properties of the various types of Boerenkaas given in the table in section 4.4. These checks on the characteristic properties are carried out visually once every six to eight weeks.

Inspection body: COKZ

5.   Application for reservation under Article 13(2):

The Bond van Boerderijzuivelbereiders is applying for protection of the name ‘Boerenkaas’ in accordance with Article 13(2)(a). Protection is applied for solely for ‘Boerenkaas’ written in Dutch.

---

13.12.2005

EN

Official Journal of the European Union

C 316/20

---

Publication of decisions by Member States to grant or revoke operating licenses pursuant to Article 13(4) of Council Regulation (EEC) No 2407/92 on licensing of air carriers (1)  (2)

(2005/C 316/08)

(Text with EEA relevance)

GERMANY

Operating licences revoked

Category B:   Operating licences including the restriction of Article 5(7)(a) of Regulation (EEC) No 2407/92

Name of air carrier	Address of air carrier	Permitted to carry	Decision effective since
Business air charter GmbH	Ronneburger Straße 74 D-07546 Gera	passengers, mail, cargo	13.11.2004

---

(1)  OJ L 240, 24.8.1992, p. 1.

(2)  Communicated to the European Commission before 31.8.2005.

---

13.12.2005

EN

Official Journal of the European Union

C 316/21

---

Information on islands and isolated settlements excluded by Member States under Article 3(4) of the Landfill Directive

(2005/C 316/09)

Pursuant to Article 3(4) of the Landfill Directive Member States may declare, at their own option, parts or all of Article 6(d), Article 7(i), Article 8(a)(iv), Article 10, Article 11(1)(a), (b) and (c), Article 12(a) and (c), Annex I, points 3 and 4, Annex II except point 3, level 3, and point 4) and Annex III, points 3 to 5 to this Directive not applicable to:

A.

landfill sites for non-hazardous or inert wastes with a total capacity not exceeding 15 000 tonnes or with an annual intake not exceeding 1 000 tonnes serving islands, where this is the only landfill on the island and where this is exclusively destined for the disposal of waste generated on that island. Once the total capacity of that landfill has been used, any new landfill established on the island shall comply with the requirements of this Directive;

B.	landfill sites for non-hazardous waste or inert waste in isolated settlements if the landfill is destined for the disposal of waste generated only by that isolated settlement.

By 16 July 2003 Member States had to notify the Commission of the list of islands and isolated settlements that are exempted. The Commission shall publish the list of islands and isolated settlements.

To date the Commission has received such lists from Spain and Greece. The lists of exempted islands and isolated settlements can be found at:

http://europa.eu.int/comm/environment/waste/landfill_index.htm

---

13.12.2005

EN

Official Journal of the European Union

C 316/22

---

Authorisation for State aid pursuant to Articles 87 and 88 of the EC Treaty

Cases where the Commission raises no objections

(2005/C 316/10)

Date of adoption of the decision:

Member State: United Kingdom (England)

Aid No: N 233/2004

Title: The Woodland Grant Scheme (England) (1988) — Restocking and Regeneration Grant

Objective: To enable woodland owners and lessees to undertake woodland restocking through investing in the replacement of woodland (i.e. replanting or regeneration)

Legal basis: The Forestry Act 1979

Budget: GBP 1,5 million per year

Aid intensity or amount: Activities will be supported at a maximum rate of 80 % of eligible costs

Duration: 1 year, starting from July 2004

The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:

http://europa.eu.int/comm/secretariat_general/sgb/state_aids/

Date of adoption of the decision:

Member State: Germany

Aid No: N 243/2004

Title: Promoting the use of biodegradable lubricants

Objective: The existing aid programme N 651/2002 would be prolonged by two years. The aid promotes the initial equipment with biogenic lubricants and hydraulic fluids and the corresponding conversion of machinery and plant, so as to give companies an incentive to use these environmentally friendly materials. Increasing the market share of these products is intended to improve economic efficiency and promote product development

Legal basis: Richtlinien zur Förderung von Projekten zum Schwerpunkt Einsatz von biologisch schnell abbaubaren Schmierstoffen und Hydraulikflüssigkeiten auf Basis nachwachsender Rohstoffe

Budget: The annual budget for the aid scheme is EUR 7 million in 2005 and 5 million in 2006

Aid intensity or amount: 60 % of the eligible costs

Duration: Until 31.12.2006

The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:

http://europa.eu.int/comm/secretariat_general/sgb/state_aids/

Date of adoption of the decision:

Member State: Italy (Abruzzi)

Aid No: N 261/2004

Title: Subsidised farm credit

Legal basis: Legge regionale 14 settembre 1994, n. 62 e Legge regionale 9 marzo 2004, n. 11

Objective: Regional Law No 11 of 9 March 2004 amends Regional Law No 62 of 14 September 1994 on subsidised farm credit

Budget: The regional authorities are allocating total funding of EUR 900 000 for 2004

Aid intensity or amount: Investment aid for the first purchase of livestock, materials and equipment: 50 % in less-favoured areas and 40 % in other areas.

1,10 % of the applicable interest rate

Duration: Five years, until 31 December 2009

The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:

http://europa.eu.int/comm/secretariat_general/sgb/state_aids/

Date of adoption of the decision:

Member State: United Kingdom

Aid No: N 295/2003

Title: Bio-Energy Infrastructure Scheme

Objective: The objective is to support the use of renewable sources for generating electricity and heat

Legal basis: The scheme has been initiated by the UK Government as a voluntary proposal and will be established under section 153(4) of the Environmental Protection Act 1990

Budget: A total budget of GBP 3,5 million (EUR 5,1 million) is available

Aid intensity or amount: Up to 100 %

Duration: Five years, with grant aid for the first three years only

The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:

http://europa.eu.int/comm/secretariat_general/sgb/state_aids/

Date of adoption of the decision:

Member State: United Kingdom

Aid No: N 498/03

Title: Industry Forum Adaptation Scheme: Cereals Scheme

Objective: As part of the approval of N 470/99 (the Industry Forum Adaptation Scheme — hereinafter IFAS), the UK authorities undertook to apply the relevant Community Guidelines for the agricultural sector, and to notify the Commission of individual aids made in the agricultural sector. The aim of the IFAS is to promote a permanent improvement in business competitiveness by the transfer of best practice within sectors. The aim of this scheme is improved competitiveness in the cereals sector

By transferring best practice to the cereals supply chain and by improving skills of businesses active in the cereals supply chain it is the intention to improve supply chain integration and efficiency. The means to achieve this is through a targeted programme that will identify and address weaknesses in the supply chain

Legal basis: L Sections 7 and 8 of the Industrial Development Act 1982

Budget: The amount of grant payment that the Home Grown Cereals Authority (HGCA) will administer is as follows:

2003/04: GBP 200 000 (approx. EUR 297 000)

2004/05: GBP 458 000 (approx. EUR 680 000)

2005/06: GBP 549 000 (approx. EUR 815 000)

2006/07: GBP 203 000 (approx. EUR 301 000)

Aid intensity or amount: 50 %, with private funding making up the balance. HGCA will administer the entire project costs. No single beneficiary will receive more than EUR 100 000 over 3 years

Duration: 3 years from the date of approval

The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:

http://europa.eu.int/comm/secretariat_general/sgb/state_aids/

Date of adoption of the decision:

Member State: Austria

Aid No: N 499/03

Title: BSE-related aid measures in 2003

Objective: Financing measures related to BSE and disposal of animal waste and of fallen stock Aid would be paid for the costs incurred in 2003 of statutory rapid BSE- and TSE-tests on slaughter animals (bovine animals and small ruminants), transport and disposal of fallen stock within the meaning of the TSE-Guidelines or, alternatively, towards the costs of insurance premiums covering such costs and the destruction of specified risk material pursuant to the TSE-Guidelines as well as of meat and bone meal having no further commercial use

Legal basis: Sonderrichtlinie des Bundesministers für Land- und Forstwirtschaft, Umwelt und Wasserwirtschaft (BMLFUW) und der Bundesministerin für Gesundheit und Frauen (BMGF) zur Finanzierung von Maßnahmen im Zusammenhang mit der TSE- und BSE-Vorsorge, Falltieren und Schlachtabfällen

Budget: National funding of EUR 6,8 million for BSE/TSE–tests and EUR 10,9 million for other measures

Aid intensity or amount: Variable according to submeasure

Duration: One-off measure

The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:

http://europa.eu.int/comm/secretariat_general/sgb/state_aids/

Date of adoption of the decision:

Member State: Italy (Autonomous Province of Trento)

Aid No: N 531/03

Title: Aid to compensate farmers for losses incurred as a result of unfavourable weather conditions (decision No 2724 of 17 October 2003)

Objective: To compensate farmers whose hay production was damaged as a result of unfavourable weather conditions

Legal basis: Deliberazione della Giunta Regionale n. 2724 del 17 ottobre 2003: «Aiuti destinati ad indennizzare gli agricoltori delle perdite causate da avverse condizioni atmosferiche; criteri e modalità per l'attuazione degli interventi per la siccità dell'annata 2003»

Budget: EUR 10 000 000

Aid intensity or amount: Maximum of 80 % of the damage

Duration: Limited to the duration of examination of applications

The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:

http://europa.eu.int/comm/secretariat_general/sgb/state_aids/

Date of adoption of the decision:

Member State: Italy

Aid No: N 536/2003

Title: Regional intervention for the development of Confidi in the agricultural sector

Objective: Providing subsidiary guarantees to farmers or cooperatives and providing consultancy services to all the farmers operating in the Region, through the Confidi

Legal basis: Legge Regionale n. 13 del 25.7.2003«Interventi per lo sviluppo dei Confidi nel settore agricolo»

Budget: EUR 1 032 913,80 for guarantees and EUR 516 456,90 for technical assistance for the first year

Aid intensity or amount: The cash grant equivalent of the aid for subsidiary guarantees is calculated as the difference between market loan rates and the actual loan stipulated with the bank, following the existence of the guarantee, deduced the amount paid by the beneficiary (premium and costs related to the granting of the guarantee). For technical assistance aid is limited to EUR 100 000 per beneficiary any three year period. The aid intensity is maximum 70 % of eligible expenses

Duration: 5 years

The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:

http://europa.eu.int/comm/secretariat_general/sgb/state_aids/

Date of adoption of the decision:

Member State: Italy (Calabria)

Aid No: N 559/03

Title: Determining the criteria and arrangements for compensation in the fruit sector following the frost in certain municipalities of Calabria between 7 and 9 April 2003

Objective: To compensate growers whose production of stone and citrus fruit was damaged as a result of unfavourable weather

Legal basis: Deliberazione della Giunta regionale del 28 ottobre 2003, n. 824: «Determinazione dei criteri e delle modalità di erogazione d'indennizzi in favore del settore frutticolo a seguito delle gelate verificatesi in alcuni comuni della Calabria dal 7 al 9 aprile 2003»

Budget: EUR 1 600 000

Aid intensity or amount: Varying depending on the damage (determined on the basis of a formula)

Duration: 1 year.

The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:

http://europa.eu.int/comm/secretariat_general/sgb/state_aids/

Date of adoption of the decision:

Member State (Region): France

Aid No: N 731/2002 — corrigendum

Title: Aid for sheep products with official quality mark

Objective: To pay part of the inspection costs for sheep products with an official quality mark

Budget: EUR 1 630 000 per year

Aid intensity or amount: The rate of aid is 100 % of eligible expenditure in the first year, 83 % in the second, 67 % in the third, 50 % in the fourth, 33 % in the fifth and 17 % in the sixth year

Duration: Six years

The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:

http://europa.eu.int/comm/secretariat_general/sgb/state_aids/

---

13.12.2005

EN

Official Journal of the European Union

C 316/25

---

OPINION OF THE EUROPEAN CENTRAL BANK

of 1 December 2005

on a proposal for a Council Regulation amending Regulation (EC) No 974/98 on the introduction of the euro

(CON/2005/51)

(2005/C 316/11)

On 10 November 2005 the European Central Bank (ECB) received a request from the Council of the European Union for an opinion on a ‘Proposal for a Council Regulation amending Regulation (EC) No 974/98 on the introduction of the euro’ (COM(2005) 357 final) (1) (hereinafter the ‘proposed regulation’). The ECB's competence to deliver an opinion is based on the third sentence of Article 123(4) of the Treaty establishing the European Community, which is the basis for the proposed regulation. In accordance with the first sentence of Article 17.5 of the Rules of Procedure of the European Central Bank, the Governing Council has adopted this opinion.

1.   General remarks

1.1.

The proposed regulation seeks to establish an appropriate legal framework for the future introduction of the euro in the Member States that have not yet adopted the euro (hereinafter the ‘non-participating Member States’). These Member States have a strong interest in ensuring that a robust legal framework at Community level is adopted well in advance of their euro changeovers, in order to facilitate timely domestic legislative and practical preparations for the introduction of the euro. The EU in general and the Member States that have already adopted the euro (hereinafter the ‘participating Member States’) also have a strong interest in ensuring that any future euro area enlargement is implemented as smoothly and successfully as was the case for the adoption of the euro by the original 11 participating Member States and Greece, so that the enlargement of the euro area will have a positive impact. Indeed, the ECB considers that the successful introduction of the euro in the existing participating Member States played a key role in establishing the credibility of the euro, both within the EU and on the broader international stage.

2.   Specific remarks

2.1.   Establishment of three euro changeover scenarios

2.1.1.

It is recalled that Council Regulation (EC) No 974/98 of 3 May 1998 on the introduction of the euro (2), which governed the introduction of the euro in the original 11 participating Member States and Greece, was based on the approach endorsed by the European Council at its meeting in Madrid in 1995 (hereinafter the ‘Madrid scenario’). The Madrid scenario provided for a transitional period between the introduction of the euro in scriptural form and the introduction of euro banknotes and coins and is the basis for the rules for the introduction of the euro currently contained in Regulation (EC) No 974/98. For further introductions of the euro some important practical aspects have changed substantially since the first changeover, which began on 1 January 1999. In particular, euro banknotes are now widely available within the euro area and throughout the EU, triggering the need for additional changeover scenarios to the Madrid scenario.

2.1.2.

Under the proposed regulation the Council would authorise Member States to follow one of three different changeover scenarios: (a) a Madrid-style transitional period, i.e. a period of time during which the euro would only legally exist as a scriptural currency, whilst euro banknotes and coins, even if privately available and usable, would not be officially recognised as having domestic legal tender status; (b) a ‘big bang’ scenario, i.e. a single-step transition to the euro under which the dates for the introduction of the euro as a scriptural currency and for the cash changeover would be the same; or (c) a ‘big bang’ scenario with a phasing-out period of up to one year during which reference could continue to be made to the national currency unit in instruments having legal effect (e.g. invoices, company accounts and payslips).

2.1.3.

The basic objective of the proposed regulation, which is clarified in its explanatory memorandum, is to establish these three alternative changeover scenarios for future Member States adopting the euro (3). In order to ensure a higher degree of transparency for EU citizens, and to ensure consistency with the goals of the EU's better regulation agenda, the ECB proposes that an explicit provision be introduced into the proposed regulation which would directly and more comprehensively reflect the three different changeover scenarios that will apply to the Member States concerned.

2.1.4.

In particular, a number of the Member States which acceded to the EU on 1 May 2004 (4) have indicated publicly that they have a preference for the euro to be introduced in accordance with a ‘big bang’ scenario. Under the current text of the proposed regulation the concept of a ‘big bang’ euro changeover can only be derived from the definition of the transitional period, with the possibility of the euro adoption date and the cash changeover date in the Annex to the proposed regulation being two dates which coincide (5). Although it is theoretically possible to conceive of the ‘big bang’ scenario as a transitional period lasting one split second, it is suggested that the ‘big bang’ scenario could be more transparently defined for the EU citizen as ‘a single-step introduction of the euro under which the euro adoption date and cash changeover date coincide’.

2.2.   Transitional period changeover scenario

2.2.1.

Under the existing provisions of Regulation (EC) No 974/98, ‘transitional period’ is defined as a three-year period beginning on 1 January 1999 and ending on 31 December 2001, except in the case of Greece, where the transitional period is a one-year period beginning on 1 January 2001 and ending on 31 December 2001 (6). In other words, the existing Regulation (EC) No 974/98 defines a fixed period of time during which transitional provisions apply. By contrast, under the proposed regulation the definition of ‘transitional period’ does not establish any specific or maximum duration. Instead, the length of the transitional period for each Member State will be established on a case-by-case basis in the proposed Annex to Regulation (EC) No 974/98, meaning that the length of the transitional period would need to be completely renegotiated at the time of the abrogation of the derogation of each Member State concerned (7).

2.2.2.

The ECB strongly recommends explicitly establishing a maximum length for the transitional period in the text of the proposed regulation, and this maximum length should be no longer than three years. In addition to this overall limit, the ECB recommends that the recitals to the proposed regulation clarify that the transitional period should be as short as possible, so as to encourage the establishment of shorter transitional periods than the maximum permissible three-year period. The arguments underlying the ECB's position regarding this point are set out below for the Council's consideration.

2.2.3.

First, the practical aspects of the euro changeover are different today compared to the original euro changeover which began on 1 January 1999, when the euro banknotes and coins were not in existence. Given that euro banknotes are now widely available not only within the euro area but also throughout the whole EU, it would not be credible if the citizens of the Member States concerned had to wait longer than three years after the introduction of the euro as the currency of their Member States before euro banknotes and coins became legal tender.

2.2.4.

Second, the transitional period should not be too long because the euro will have been legally declared the official currency of the Member State concerned at the very beginning of the transitional period (8). Consistent with this, the ECB would formulate monetary policy for the Member State concerned (9) and all monetary policy operations would be carried out in the euro unit by the national central bank (NCB) of the Member State concerned (10). New tradeable public debt would be issued in the euro unit by the Member State concerned (11). It can be expected that there would be an increased use of the euro unit in both domestic payments and, especially, cross-border payments with the Member State concerned (12). Also, the Member State concerned would be able to take appropriate measures to enable the change in the unit of account of their operating procedures from a national currency unit to the euro unit by organised markets and payment systems (13). The experience of the original 11 participating Member States suggests that the wholesale banking sector and financial markets can be expected to switch to the euro unit at the very beginning of the transitional period. Against this background, the ECB does not consider it plausible for the transitional period between the introduction of the euro as the currency of the Member State concerned and the official introduction of the euro banknotes and coins to last longer than three years.

2.2.5.

Third, it is true that it was prudent to have provided for a three-year transitional period during the first euro changeover, given the unprecedented logistical challenge involved in merging the currencies and legal tenders of 11 Member States into a single European currency. However, it is noted that Greece, which adopted the euro two years later than the original 11 participating Member States, successfully coped with a one-year transitional period. This suggests that if a Madrid-style transitional period is used for any further introductions of the euro, the transitional period should be shorter than three years.

2.2.6.

Fourth, two principles are considered important for guiding the adoption of the euro: the principles of equal treatment and facilitation. While the principle of equal treatment implies that Member States joining later should not be confronted with additional hurdles, nor should they be allowed to join on looser terms, the principle of facilitation suggests that there is a need to be flexible in implementing the changeover. While equal treatment implies that Member States joining later are entitled to use the same maximum overall time specified in the Madrid scenario for the original participating Member States, they should be allowed, in line with the principle of facilitation, to complete the changeover more quickly, should this prove feasible and appropriate. Thus, establishing a maximum of three years for the transitional period would be consistent with the principle of equal treatment, taking account of the three-year transitional period applicable to the original 11 participating Member States under Regulation (EC) No 974/98. At the same time, providing for the possibility to shorten this three-year transitional period would satisfy the principle of facilitation.

2.2.7.

Fifth, establishing a maximum length for the transitional period would be consistent with the legal technique used for defining other periods relevant to the different euro changeover scenarios, such as the phasing-out period and the dual circulation period. The proposed regulation sets a maximum length of one year for the phasing-out period (14). Regulation (EC) No 974/98 establishes the maximum length of the dual circulation period as six months (15).

2.2.8.

To sum up, the ECB considers that, from the perspective of ensuring the credibility of the euro changeover process, fostering legal certainty and increasing efficiency, there is a compelling case for establishing a maximum length for the transitional period of no more than three years in the text of the proposed regulation. In order to encourage the establishment of shorter transitional periods than the maximum permissible three-year period, the ECB also recommends that the recitals to the proposed regulation clarify that the transitional period should be as short as possible. Finally, it is noted that such a clear-cut provision establishing a maximum length for the transitional period would avoid any further discussions upon any future abrogation of the derogations of the Member States concerned and the subsequent amendments to Regulation (EC) No 974/98, thus making the euro changeover process more predictable.

2.3.   Phasing-out changeover scenario

2.3.1.

As a general matter, the ECB understands the reasons for combining a ‘big bang’ scenario with a phasing-out period of up to one year during which there would be scope for the continued usage of the national currency unit in specific legal instruments, such as, according to the explanatory memorandum, invoices or company books (16). While it might be arguable whether invoices or company books constitute legal instruments within the meaning of the proposed regulation, the ECB understands that the concept of a phasing-out period is also intended to allow for the continued use of the national currency unit in new legal instruments such as standard-form contracts generated by electronic means (e.g. car rental contracts).

2.3.2.

While the explanatory memorandum suggests that the phasing-out period would leave only ‘certain scope for the usage of the national currency in specific legal instruments’ (17), the provisions of the proposed regulation do not contain any limitation on the types of new legal instruments which may continue to refer to the national currency unit during the phasing-out period (18). The ECB notes that this approach allows a considerable degree of flexibility and subsidiarity to Member States in the application of the phasing-out period to different kinds of legal instruments.

2.3.3.

One point which the ECB wishes to emphasise is that under the proposed regulation, acts performed under legal instruments containing references to the national currency unit during the phasing-out period are required to be performed only in the euro unit (19). This may prevent parties from referring to national currency units in payment instruments since such payment instruments would have to be performed in the euro unit rather than in the relevant national currency unit. However, insofar as payment instruments such as cheques and payment orders would be denominated in the national currency unit, this may create some inconvenience for payment operators as they would need to ensure that conversion from the national currency unit to the euro unit takes place before a transaction is performed. Furthermore, since payment instruments may potentially circulate outside the Member States which are applying a phasing-out period, it is important from an operational perspective to exclude the possibility of cross-border use of payment instruments denominated in the relevant national currency units. This can be achieved by restricting the application of the provisions on the phasing-out period to legal instruments to be performed in the Member State concerned (i.e. only in the Member State with the phasing-out period). Such an approach would encourage flexibility regarding the implementation of the provisions on the phasing-out period and limit it to the domestic level.

2.3.4.

The ECB notes that the earlier part of the phasing-out period (of up to one year after the cash changeover date) would overlap with the dual circulation period (of up to six months) during which both euro and national currency banknotes and coins would be permitted as legal tender within the territorial limits of the Member State concerned (20). The ECB notes that there is a discrepancy between the provision according to which acts performed under new legal instruments containing references to the old national currency unit during the phasing-out period are required only to be performed in the euro unit, and the fact that national currency banknotes and coins will remain legal tender within their territorial limits during the dual circulation period. This discrepancy can be addressed by means of an amendment to the text of the proposed regulation, under which the abovementioned provision would operate without prejudice to the provisions of Article 15 of Regulation (EC) No 974/98 (i.e. the provisions on the dual circulation period).

2.4.   Name of the euro

2.4.1.

The ECB understands that one Member State has entered a linguistic reservation relating to identification of the name of the single currency as the ‘euro’ in that Member State's language version of the proposed regulation. In this regard, the ECB would emphasise that the name ‘euro’ must be properly and consistently used throughout all language versions of the proposed regulation, in accordance with the requirement under Regulation (EC) No 974/98 that the name of the single currency be the same in all the official languages of the European Union, taking into account the existence of different alphabets (21). As noted by the ECB in a recent opinion on a draft Lithuanian law on the adoption of the euro (22), the relevant provisions of Regulation (EC) No 974/98 ‘make it clear that the name of the single currency is the “euro” and that this name should be identical in legal acts published in all Community languages […] The Community, as the exclusive holder of competence in monetary matters, determines alone the name of the single currency. As a single currency, the name of the euro needs to be identical in the nominative singular case in all Community languages to ensure that its singleness is apparent.’

2.4.2.

Consistent with the foregoing, the euro banknotes which the ECB has authorised to be issued by the ECB and the NCBs of participating Member States since 1 January 2002 only identify the name of the single currency as the ‘EURO’ and the ‘ΕΥΡΩ’, i.e. the name of the currency in the Roman and Greek alphabets (23). For reasons of legal certainty, the ECB recommends that the text of the proposed regulation incorporates in its normative part a provision confirming that ‘the spelling of the name of the euro shall be identical in the nominative singular case in all the official languages of the European Union, taking into account the existence of different alphabets’.

2.5.   Specific drafting suggestions

In addition, the ECB has a number of specific drafting suggestions.

2.5.1.

First, Regulation (EC) No 974/98 permits each Member State which opts for a Madrid-style transitional period to take measures which may be necessary to enable the change of the unit of their operating procedures from a national currency unit to the euro unit by markets for the regular exchange, clearing and settlement of any instrument listed in Section B of the Annex to Council Directive 93/22/EEC of 10 May 1993 on investment services in the securities field (24) (hereinafter the ‘ISD’) and of commodities (25). Given that the ISD has been repealed by the Markets in Financial Instruments Directive (26) (hereinafter the ‘MiFID’), the reference to the instruments listed in Section B of the Annex to the ISD should be replaced by a reference to the instruments listed in Section C of Annex I to the MiFID, which contains a more detailed and sophisticated list of financial instruments than the ISD, including, for example, commodity, credit and weather derivatives.

2.5.2.

Second, it is suggested to simplify the first paragraph of the proposed Article 10 of Regulation (EC) No 974/98 to provide that ‘with effect from the respective cash changeover dates, the ECB and the national central banks of the participating Member States shall put into circulation banknotes denominated in euro in the participating Member States.’

2.5.3.

Third, regarding the helpful reference to ‘the provisions of any agreement under Article 111 of the Treaty concerning monetary matters’ contained in the proposed Article 11 of Regulation (EC) No 974/98 (which addresses the legal tender status of euro coins issued by third countries such as Monaco, San Marino and Vatican City), the ECB would suggest that, consistent with some language versions (e.g. German) of the proposed regulation, the reference to Article 111 of the Treaty could be narrowed to paragraph 3 thereof, as this is the only paragraph of Article 111 referring to agreements concerning monetary matters (i.e. Article 111(3)).

2.5.4.

Fourth, regarding the proposed obligation for ‘banks’ to exchange their customers' national banknotes and coins for euro banknotes and coins free of charge up to specified ceilings pursuant to the proposed Article 15(3) of Regulation (EC) No 974/98, the ECB notes that, from a strict drafting perspective, the term ‘credit institutions’ is the term usually used to describe banks under both the Treaty and secondary Community law. Therefore, if the reference to ‘banks’ is replaced by a reference to ‘credit institutions’, as defined in the Consolidated Banking Directive, account needs to be taken of the fact that some ‘credit’ institutions included within the scope of that Directive are not involved in cash operations (e.g. electronic money institutions) (27) while others, exempted from the scope of the Directive (e.g. post office giro institutions), have proven important for the euro changeover in the past. In view of the foregoing, it would be sensible to leave a certain discretion to the Member States concerned with regard to defining the other institutions that may need to be covered by this obligation to exchange banknotes and coins free of charge.

2.6.   Drafting proposals

2.6.1.

Where the above recommendations would lead to changes in the proposed regulation, drafting proposals are enclosed in the annex hereto.

---

(1)  Version of 2 August 2005.

(2)  OJ L 139, 11.5.1998, p. 1. Regulation as amended by Regulation (EC) No 2596/2000 (OJ L 300, 29.11.2000, p. 2).

(3)  See the explanatory memorandum to the proposed regulation, p. 3.

(4)  Cyprus, Estonia, Latvia, Lithuania, Malta, Slovakia and Slovenia.

(5)  Proposed Article 1(h) of Regulation (EC) No 974/98 and the proposed Annex thereto.

(6)  Articles 1 and 2 of Regulation (EC) No 974/98.

(7)  Proposed Article 1(h) of Regulation (EC) No 974/98.

(8)  Proposed Article 2 of Regulation (EC) No 974/98.

(9)  Article 105(2) of the Treaty and the first paragraph of Article 12.1 of the Statute of the European System of Central Banks and of the European Central Bank.

(10)  Recital 9 to Regulation (EC) No 974/98.

(11)  Recital 14 to Regulation (EC) No 974/98.

(12)  Article 8(3) of and recital 13 to Regulation (EC) No 974/98.

(13)  Article 8(4) of Regulation (EC) No 974/98.

(14)  Proposed Article 9a of Regulation (EC) No 974/98.

(15)  Article 15 of Regulation (EC) No 974/98. It is noted that all 12 existing participating Member States shortened the dual circulation period to no longer than two months.

(16)  See the explanatory memorandum to the proposed regulation, p. 3.

(17)  See the explanatory memorandum to the proposed regulation, p. 3.

(18)  Proposed Article 1(i) and proposed Article 9a of Regulation (EC) No 974/98.

(19)  Third sentence of the proposed Article 9a of Regulation (EC) No 974/98.

(20)  Article 15 of Regulation (EC) No 974/98.

(21)  Article 2 of and recital 2 to Regulation (EC) No 974/98. See also paragraph 10 of ECB Opinion CON/2005/21 of 14 June 2005 at the request of Lietuvos bankas on a draft law on the adoption of the euro; available on the ECB's website at www.ecb.int.

(22)  Paragraph 10 of Opinion CON/2005/21.

(23)  Article 1(2) of Decision ECB/2003/4 of 20 March 2003 on the denominations, specifications, reproduction, exchange and withdrawal of euro banknotes (OJ L 78, 25.3.2003, p. 16).

(24)  OJ L 141, 11.6.1993, p. 27. Directive as last amended by Directive 2002//87/EC of the European Parliament and of the Council (OJ L 35, 11.2.2003, p. 1).

(25)  Subparagraph (a) of the second indent of Article 8(4) of Regulation (EC) No 974/98.

(26)  Directive 2004/39/EC of the European Parliament and the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC (OJ L 145, 30.4.2004, p. 1).

(27)  Articles 1(1) and 2(3) of Directive 2000/12/EC of the European Parliament and of the Council of 20 March 2000 relating to the taking up and pursuit of the business of credit institutions (OJ L 126, 26.5.2000, p. 1). Directive as last amended by Directive 2005/1/EC (OJ L 79, 24.3.2005, p. 9).

---

---