31993R0032

9 . 1 . 93 Official Journal of the European Communities No L 5/ 19

COMMISSION REGULATION (EEC) No 32/93 of 8 January 1993 amending the agricultural conversion rates

THE COMMISSION OF THE EUROPEAN COMMUNITIES, HAS ADOPTED THIS REGULATION : Having regard to the Treaty establishing the European Article 1 Economic Community, The agricultural conversion are hereby fixed at ECU 1 = Having regard to Council Regulation (EEC) No 3813/92 of 28 December 1992 on the unit of account and the 48,5563 Belgian francs and Luxembourg francs conversion rates to be applied for the purposes of the 8,97989 Danish kroner common agricultural policy ('), and in particular Article 3 2,35418 German marks ( 1 ) thereof, 310,351 Greek drachmas 166,075 Spanish pesetas Whereas the agricultural conversion rates were fixed by Commission Regulation (EEC) No 3822/92 (2) ; 7,89563 French francs 0,878776 Irish punt Whereas Regulation (EEC) No 3813/92 provides that, if, 2133,00 Italian lire over a reference period, the absolute value of the dif­ 2,65256 Dutch guilders ference in the gaps between the currencies of any two Member States exceeds four points, any monetary gaps for 209,523 Portuguese escudos the Member States concerned that exceed two points shall 0,939052 Pound sterling. immediately be reduced to two points ; whereas, on the basis of the reference period 1 to 10 January 1993, this Article 2 situation exists in respect of the Italian lira ; whereas a new agricultural conversion rate must therefore be fixed This Regulation shall enter into force on 11 January for that currency, 1993 .

This Regulation shall be binding in its entirety and directly applicable in all Member States .

Done at Brussels, 8 January 1993 .

For the Commission Rene STEICHEN Member of the Commission

(') OJ No L 387, 31 . 12. 1992, p. 1 . 2 OJ No L 387, 31 . 12. 1992, p. 26.