title: Council Recommendation of 12 July 2016 on the 2016 National Reform Programme of Lithuania and delivering a Council opinion on the 2016 Stability Programme of Lithuania

text:
               18.8.2016

               EN

               Official Journal of the European Union

               C 299/69

         COUNCIL RECOMMENDATION
   of 12 July 2016
   on the 2016 National Reform Programme of Lithuania and delivering a Council opinion on the 2016 Stability Programme of Lithuania
   (2016/C 299/17)
   THE COUNCIL OF THE EUROPEAN UNION,
   Having regard to the Treaty on the Functioning of the European Union, and in particular Articles 121(2) and 148(4) thereof,
   Having regard to Council Regulation (EC) No 1466/97 of 7 July 1997 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies (1), and in particular Article 5(2) thereof,
   Having regard to the recommendation of the European Commission,
   Having regard to the resolutions of the European Parliament,
   Having regard to the conclusions of the European Council,
   Having regard to the opinion of the Employment Committee,
   Having regard to the opinion of the Economic and Financial Committee,
   Having regard to the opinion of the Social Protection Committee,
   Having regard to the opinion of the Economic Policy Committee,
   Whereas:

               (1)

               On 26 November 2015, the Commission adopted the Annual Growth Survey, marking the start of the 2016 European Semester for economic policy coordination. The priorities of the Annual Growth Survey were endorsed by the European Council on 17-18 March 2016. On 26 November 2015, on the basis of Regulation (EU) No 1176/2011 of the European Parliament and of the Council (2), the Commission adopted the Alert Mechanism Report, in which it did not identify Lithuania as one of the Member States for which an in-depth review would be carried out. On the same day, the Commission also adopted a recommendation for a Council Recommendation on the economic policy of the euro area. That Recommendation was endorsed by the European Council on 18-19 February 2016 and adopted by the Council on 8 March 2016 (3). As a country whose currency is the euro and in view of the close interlinkages between the economies in the economic and monetary union, Lithuania should ensure the full and timely implementation of the Recommendation.

               (2)

               The country report for Lithuania was published on 26 February 2016. The report assessed Lithuania's progress in addressing the country-specific recommendations adopted on 14 July 2015 and Lithuania's progress towards its national Europe 2020 targets.

               (3)

               On 29 April 2016, Lithuania submitted its 2016 National Reform Programme and its 2016 Stability Programme. In order to take account of their interlinkages, the two programmes have been assessed at the same time.

               (4)

               Relevant country-specific recommendations have been addressed in the programming of the European Structural and Investment Funds for the 2014-2020 period. As foreseen in Article 23 of Regulation (EU) No 1303/2013 of the European Parliament and of the Council (4), where it is necessary to support the implementation of relevant Council recommendations, the Commission may request a Member State to review and propose amendments to its Partnership Agreement and relevant programmes. The Commission has provided further details on how it would make use of this provision in guidelines on the application of the measures linking the effectiveness of the European Structural and Investment Funds to sound economic governance.

               (5)

               In its 2016 Stability Programme, Lithuania has requested a temporary deviation of 0,6 % of GDP from the required adjustment path towards the medium-term objective in 2017, to take account of major structural reforms with a positive impact on the long-term sustainability of public finances. However, pending a final agreement, uncertainty on the set of reform measures as well as their implementation remains. Thus, while Lithuania has sufficient fiscal space to benefit from a temporary deviation, it does not appear to fulfil the eligibility criterion related to the implementation of the reform to avail itself of the structural reform clause. Moreover, it is currently not possible to assess the plausibility of the impact of the reform estimated by the Government. Therefore, the impact of these reforms has not yet been reflected in the required adjustment towards the medium-term budgetary objective for 2017.

               (6)

               Lithuania is currently under the preventive arm of the Stability and Growth Pact. In its 2016 stability programme, the government plans an improvement of the headline balance from a deficit of 0,8 % of GDP in 2016 to a surplus of 0,9 % of GDP in 2019. The (recalculated (5)) structural balance is set to stay above the medium-term budgetary objective — a deficit of 1 % of GDP in structural terms — in 2016 and thereafter. The adjustment path incorporates the systemic pension reform in 2016 but does not reflect the planned structural reform in 2017. According to the Stability Programme, the government debt-to-GDP ratio is expected to fall from 39,9 % of GDP in 2016 to 35,7 % in 2019. The macroeconomic scenario underpinning these budgetary projections is plausible. The measures needed to support the planned deficit targets from 2018 onwards have not been sufficiently specified yet. Based on the Commission 2016 spring forecast, the structural balance is forecast to be at – 1,2 % of GDP in 2016, which can be considered as close to the medium-term budgetary objective, and at – 0,8 % of GDP in 2017, above the medium-term budgetary objective. Based on its assessment of the Stability Programme and taking into account the Commission 2016 spring forecast Lithuania is expected to comply with the provisions of the Stability and Growth Pact.

               (7)

               A fall in the working age population, caused by ageing, poor health outcomes and significant net emigration may harm Lithuania's growth potential and ultimately its future convergence path, while putting at risk the sustainability of its pension and long-term care systems. A cumulative loss of 35 % of the working age population is estimated by 2030. If that trend is not reversed, it will jeopardise the availability of suitable labour resources, the sustainability of long-term economic growth and social security systems, in particular the pension system.

               (8)

               Ongoing demographic trends underscore the need for a comprehensive pension reform in Lithuania that addresses the medium-term sustainability and adequacy risks of the current pension system. The level of poverty among the elderly in Lithuania is among the highest in the Union. However, at present there is no indexation mechanism in place for publicly provided pensions and spending on social insurance pensions is relatively low. The Parliament has not yet adopted the draft law proposed by the Government to introduce an indexation mechanism, link the retirement age to changes in life expectancy after 2026 and improve the way the basic part of the social insurance pension is financed.

               (9)

               In Lithuania, health outcomes are among the poorest in the European Union. In particular, the mortality rate of the population aged between 20 to 64 years of age is the highest in the Union, having an important impact on the potential available workforce and labour productivity. Weaknesses in the health system include too much reliance on in-patient care and low expenditure on prevention and public health. There is a need to address the negative demographic trend.

               (10)

               It is important that Lithuania strengthens investment in human capital to counteract some of the negative effects of its shrinking working age population and support Lithuania's transition towards a higher value-added economy. Although educational attainment has increased, the proportion of pupils with insufficient basic skills is high. Efforts should be pursued to ensure high quality teaching, which is crucial to tackling underachievement and educational shortcomings. Furthermore, there are weaknesses in the quality of teaching in higher education and its ability to foster innovation. The persistently low level of participation in adult learning is undermining efforts to improve the quality of human capital and increase productivity. There are signs of emerging skills shortages in certain sectors of the economy. Those skills shortages are expected to become more acute in the future. Strong wage growth and a slowdown in productivity growth may weaken cost-competitiveness. It is therefore important to improve the labour market relevance of education, streamline the structure and funding of the educational system, develop life-long learning and improve the targeting and effectiveness of active labour market policies. Lithuania has taken steps to improve its active labour market measures and other services to support job seekers, but there is still scope to improve targeting for specific groups, in particular the very long-term unemployed and those lacking necessary skills. Spending on effective labour market policy measures remains limited and social safety nets in Lithuania are weak. Around 27 % of Lithuania's population is at risk of poverty or social exclusion and income inequality is among the highest in the Union. The Government plans to improve the coverage and adequacy of unemployment and social assistance benefits, but the relevant legislation has still not been adopted.

               (11)

               A comprehensive revision of the Labour Code and the social model is under discussion in the Parliament. The intention is to increase the flexibility of labour market relations and provide more security, but the relevant legislation still needs to be adopted. The involvement of social partners in the implementation of the reform and more extensive social dialogue are important.

               (12)

               Investment has recovered slowly since the onset of the economic crisis and will be supported by EU structural and investment funds in the coming years. Nevertheless, the adoption and absorption of new technology has not spread across the economy and innovation is low, hampering productivity growth. Private investment in research and innovation has also been low, perhaps due to the insufficiency of incentives for business research and innovation and public-private cooperation. Strengthening private investment could mitigate the risks relating to the dependency of Lithuania's public investment in research and innovation on EU structural and investment funds. The tertiary education system shows weaknesses in quality and innovation outcomes, with limited levels of cooperation with foreign universities and research centres. The research and innovation system is fragmented and characterised by overlaps and duplication. This prevents Lithuania from reaching the critical mass of research and development capacity needed to increase innovative knowledge. Incentives for innovation and cooperation between academia and business need to be increased, inter alia, by developing and investing in human capital, which could increase the level of technology transfers to the real economy. Improving the limited capacity of Lithuanian companies to absorb external knowledge and apply it to commercial ends would raise the level of innovation.

               (13)

               In the context of the European Semester, the Commission has carried out a comprehensive analysis of Lithuania's economic policy and published it in the 2016 country report. It has also assessed the Stability Programme and the National Reform Programme and the follow-up given to the recommendations addressed to Lithuania in previous years. It has taken into account not only their relevance for sustainable fiscal and socioeconomic policy in Lithuania but also their compliance with EU rules and guidance, given the need to strengthen the the EU's overall economic governance by providing EU level input into future national decisions. The recommendations under the European Semester are reflected in recommendations (1) to (3) below.

               (14)

               In the light of this assessment, the Council has examined the Stability Programme and its opinion (6) is reflected in particular in recommendation (1) below,

         HEREBY RECOMMENDS that Lithuania take action in 2016 and 2017 to:

               1.

               Ensure that the deviation from the medium-term budgetary objective is limited to the allowance linked to the systemic pension reform in 2016 and in 2017. Reduce the tax burden on low-income earners by shifting the tax burden to other sources less detrimental to growth and improve tax compliance, in particular in the area of VAT.

               2.

               Strengthen investment in human capital and address skills shortages, by improving the labour market relevance of education, raising the quality of teaching and adult learning. Reinforce the coverage and effectiveness of active labour market policies. Strengthen the role of social dialogue mechanisms. Improve the performance of the healthcare system by strengthening outpatient care, disease prevention and health promotion. Improve the coverage and adequacy of unemployment benefits and social assistance.

               3.

               Take measures to strengthen productivity and improve the adoption and absorption of new technology across the economy. Improve the coordination of innovation policies and encourage private investment, inter alia, by developing alternative means of financing.

      Done at Brussels, 12 July 2016.

            For the Council

            The President

         P. KAŽIMÍR

      (1)  OJ L 209, 2.8.1997, p. 1.

      (2)  Regulation (EU) No 1176/2011 of the European Parliament and of the Council of 16 November 2011 on the prevention and correction of macroeconomic imbalances (OJ L 306, 23.11.2011, p. 25).

      (3)  OJ C 96, 11.3.2016, p. 1.

      (4)  Regulation (EU) No 1303/2013 of the European Parliament and of the Council of 17 December 2013 laying down common provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund and laying down general provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund and the European Maritime and Fisheries Fund and repealing Council Regulation (EC) No 1083/2006 (OJ L 347, 20.12.2013, p. 320).

      (5)  The structural balance as recalculated by the Commission based on the information in the stability programme, following the commonly agreed methodology.

      (6)  Under Article 5(2) of Regulation (EC) No 1466/97.


title: RECOMMENDATION FOR A COUNCIL REGULATION (EEC) ON THE CONCLUSION OF THE AGREEMENT EXTENDING THE INTERIM AGREEMENT BETWEEN THE EUROPEAN ECONOMIC COMMUNITY AND THE PEOPLE'S DEMOCRATIC REPUBLIC OF ALGERIA#RECOMMENDATION FOR A COUNCIL REGULATION (EEC) ON THE CONCLUSION OF THE AGREEMENT EXTENDING THE INTERIM AGREEMENT BETWEEN THE EUROPEAN ECONOMIC COMMUNITY AND THE KINGDOM OF MOROCCO#RECOMMENDATION FOR A COUNCIL REGULATION (EEC) ON THE CONCLUSION OF THE AGREEMENT EXTENDING THE INTERIM AGREEMENT BETWEEN THE EUROPEAN ECONOMIC COMMUNITY AND THE REPUBLIC OF TUNISIA#RECOMMENDATION FOR A COUNCIL REGULATION (EEC) ON THE CONCLUSION OF THE AGREEMENT EXTENDING THE INTERIM AGREEMENT BETWEEN THE EUROPEAN ECONOMIC COMMUNITY AND THE ARAB REPUBLIC OF EGYPT#RECOMMENDATION FOR A COUNCIL REGULATION (EEC) OF THE CONCLUSION OF THE AGREEMENT EXTENDING THE INTERIM AGREEMENT BETWEEN THE EUROPEAN ECONOMIC COMMUNITY AND THE HASHEMITE KINGDOM OF JORDAN#RECOMMENDATION FOR A COUNCIL REGULATION (EEC) THE CONCLUSION OF THE AGREEMENT EXTENDING THE INTERIM AGREEMENT BETWEEN THE EUROPEAN ECONOMIC COMMUNITY AND THE LEBANESE REPUBLIC#RECOMMENDATION FOR A COUNCIL REGULATION (EEC) ON THE CONCLUSION OF THE AGREEMENT EXTENDING THE INTERIM AGREEMENT BETWEEN THE EUROPEAN ECONOMIC COMMUNITY AND THE ARAB REPUBLIC OF SYRIA (submitted to the Council by the Commission)

text:
ARCHIVES HISTORIQUES
DE LA COMMISSION
COLLECTION RELIEE DES
DOCUMENTS "COM"
COM (78) 265
Vol. 1978/0099
 ---pagebreak--- Disclaimer
Conformément au règlement (CEE, Euratom) n° 354/83 du Conseil du 1er février 1983
concernant l'ouverture au public des archives historiques de la Communauté économique
européenne et de la Communauté européenne de l'énergie atomique (JO L 43 du 15.2.1983,
p. 1), tel que modifié par le règlement (CE, Euratom) n° 1700/2003 du 22 septembre 2003
(JO L 243 du 27.9.2003, p. 1), ce dossier est ouvert au public. Le cas échéant, les documents
classifiés présents dans ce dossier ont été déclassifiés conformément à l'article 5 dudit
règlement.
In accordance with Council Regulation (EEC, Euratom) No 354/83 of 1 February 1983
concerning the opening to the public of the historical archives of the European Economic
Community and the European Atomic Energy Community (OJ L 43, 15.2.1983, p. 1), as
amended by Regulation (EC, Euratom) No 1700/2003 of 22 September 2003 (OJ L 243,
27.9.2003, p. 1), this file is open to the public. Where necessary, classified documents in this
file have been declassified in conformity with Article 5 of the aforementioned regulation.
In Übereinstimmung mit der Verordnung (EWG, Euratom) Nr. 354/83 des Rates vom 1.
Februar 1983 über die Freigabe der historischen Archive der Europäischen
Wirtschaftsgemeinschaft und der Europäischen Atomgemeinschaft (ABI. L 43 vom 15.2.1983,
S. 1), geändert durch die Verordnung (EG, Euratom) Nr. 1700/2003 vom 22. September 2003
(ABI. L 243 vom 27.9.2003, S. 1), ist diese Datei der Öffentlichkeit zugänglich. Soweit
erforderlich, wurden die Verschlusssachen in dieser Datei in Übereinstimmung mit Artikel 5
der genannten Verordnung freigegeben.
 ---pagebreak--- COMM'SSiON OF THE EUROPEAN COMMUNITIES
                                                           COM(78)265 final
                                                           Brussels , 16 June 1978
                         RECOMMENDATION FOR A COUNCIL REGULATION ( EEC ;
            ON THE CONCLUSION OP THE AGREEMENT EXTENDING THE INTERIM AGREEMENT
            BETWEEN "THE, El? ROPE AN ECONOMIC C OK; -I UNITY AND THE PEOPLE 'S DEMOCRATIC
                                     REPUBLIC OF ALGERIA
                         RECOMMENDATION FOR A COUNCIL REGULATION ( EEC )
            ON -THE CONG . '.SIGN OF TIES AGREEMENT EXTENDING THE INTERIM AGREEMENT
            BETWEEN THE EUROPEAN ECONOMIC COMMUNITY AND THE KINGDOM OF MOROCCO
                         RECOMMENDATION FOR A COUNCIL REGULATION ( EEC )
            ON THE CONCLUSION OF THE AGREEMENT EXTENDING THE INTERIM AGREEMENT
            BETWEEN THE EUROPEAN ECONOMIC COMMUNITY AND THE REPUBLIC OF TUNISIA
                         RECOMMENDATION FOR A COUNCIL REGULATION ( EEC !
            ON* THE; CONCLUSION OF THE AGREEMENT EXTENDING THE INTERIM AGREEMENT
             SEE , TEN TEL EUROPEAN ECONOMIC COMMUNITY AND THE ARAB REPUBLIC OF
                                           EGYPT
                         RECOMMENDATION FOR A COUNCIL REGULATION ( EEC ]
            OF" THE CONCLUSION OF THE AGREEMENT EXTENDING TEE INTERIM AGREEMENT
            BETWEEN THE EUROPEAN ECONOMIC COMMUNITY AND THE HASHEMITE KINGDOM
                                          OF JORDAN
                         RRECOMMENDATION FOR A COUNCIL REGULATION ( EEC )
                THE CONCLUSION OF THE AGREEMENT EXTENDING THE INTERIM AGREEMENT
            BETWEEN THE EUROPEAN ECONOMIC COMMUNITY AND THE LEBANESE REPUBLIC
                         RECOMMENDATION FOR A COUNCIL REGULATION ( EEC )
            ON THE CONCLUSION OF THE AGREEMENT EXTENDING THE INTERIM AGREEMENT
            BETWEEN THE EUROPEAN ECONOMIC COMMUNITY .AND THE ARAB REPUBLIC OF
                                           SYRIA
                      ( submitted to the Council try the Commission )
■OM'"'.. ( 3 ; 2o$ final
 ---pagebreak--- RECOMMENDATION FOR THE COUNCIL REGULATIONS ( EEC ) ON THE CONCLUSION OF THE
AGREEMENTS EXTENDING THE INTERIM AGREEMENTS BETWEEN THE EUROPEAN ECONOMIC
COMMUNITY ON THE ONE HAND AND THE PEOPLE 'S DEMOCRATIC REPUBLIC OF ALGERIA,
THE KINGDOM OF MOROCCO, THE REPUBLIC OF TUNISIA , THE ARAB REPUBLIC OF EGYPT,
THE HASHEMITE KINGDOM OF JORDAN, THE LEBANESE REPUBLIC AND THE ARAB REPUBLIC
OF SYRIA ON THE OTHER .
Following the decision adopted by the Council at its meeting of 22 May 1978
to open negotiations with Algeria, Morocco, Tunisia , Egypt , Jordan, Lebanon
and Syria , for the conclusion of agreements extending the interim agreements
concluded with these countries, the Commission is forwarding via this
communication the draft agreements, the texts of which have been approved by
the delegations of the countries concerned.
 Thi CnpilMlon             that th® Council approve the result * of these
h^otiatibas and taUUte th*              and seruluilon preeedur*. To this end,
 it 1® forwarding the following recommendations for regulation* approving the
            »xt§f>d1ng             #grte»»nt# *
 ---pagebreak--- RECOMMENDATION FOR COUNCIL REGULATION ( EEC )
ON THE CONCLUSION OF THE AGREEMENT EXTENDING THE INTERIM AGREEMENT BETWEEN
THE EUROPEAN ECONOMIC COMMUNITY AND THE PEOPLE 'S DEMOCRATIC REPUBLIC OF
                               ALGERIA
THE COUNCIL OF THE EUROPEAN COMMUNITIES ,
Having regard to the Treat/ establishing the European Economic Community, and ,
in particular Article 113 thereof,
Having regard to the recommendation from the Commission,     °
Whereas the Interim Agreement between the European Economic Community and the
People 's Democratic Republic of Algeria, signed in Algiers, on 26 April 1976
and extended successively on 30 June and 31 December 1977, expires not later than
30 June 1978 .
Whereas, pending the entry into force of the Cooperation Agreement between the
European Economic Community and the People 's Democratic Republic of Algeria,
signed in Algiers on 26 April 1976, 1t is necessary to extend the
Interim Agreement again .
                                                                  *
HAS ADOPTED THIS REGULATION   J
                              Article 1
 The Agreement extending the Interim Agreement between the European Economic Comnunit
 and the People's Democratic Republic of Algeria is hereby approved on behalf of ".*
 Community.
 The text of the Agreement is annexed to this Regulation
                                                                /   ■ • ••
                               Article 2
 The President of the Council is hereby authorized to dftsfgn»t« thr?       empi
 ---pagebreak---                                                                                z
 >,o % - > tb<? Agreement for the purpose of binding the Community.
                                 Article 3
 Thir, Regulation shall enter " into force on the day following Its publication
 if ; the official Journal ©f the European Communities .
 Thv Regulation shall be binding in Its entirety and directly applicable in all
number 'ft'it'-s »
!>one at            ,
                                                        For the Council
                                                         The President
 ---pagebreak---                               AGREEMENT
EXTENDING THE INTERIM AGREEMENT BETWEEN THE EUROPEAN ECONOMIC COMMUNITY ANi)
  THE PEOPLE 'S DEMOCRATIC RSPU0UC OF ALGERIA ,
THE COUNCIL OF THE EUROPEAN COMMUNITIES /
of the one part-
THE PRESIDENT OF THE    REPUBLIC ,
PRESIDENT OF THE COUNCIL OF THE REVOLUTION ,                          .  "
PRESIDENT . OF THE COUNCIL OF MINISTERS OF THE PEOPLE 'S DEMOCRATIC REPUBLIC OF ALGE !
of the other part ,
WHEREAS the Interim Agreement between the European Economic Community and the
People 's Democratic Republic of Algeria        signed in Algiers       on 26 April
 1976 and extended successively on 30 June and 31 December 1977, expires not
 later than 30 June 1978 .
WHEREAS , pending the entry into force of the Cooperation Agreement between the
 European Economic Community and the People 's Democratic Republic of Algeria , sign
 in Algiers     on 26    April 1976, it is necessary to extend the Interim Agreement
 again ,
 HAVE DECIDED to conclude this Agreement and to this end have designated as their
 Plenipotentiaries :
 THE COUNCIL OF THE EUROPEAN COMMUNITIES    i
 THE PRESIDENT OF THE    REPUBLIC ,
 PRESIDENT OF THE COUNCIL OF THE RrVOUTDN ,
 PRESIDENT OF THE COUNCIL OF MINISTER:, OF THE PtOPLC'   t»r.M0CRATlC
 REPUBLIC CF ALGERIA   i
 ---pagebreak--- WHC . having exchanged their full powers, found in good and due form, have agreed
^ follous :
                                 Article 1
                                                                            i
Tiie date " 30 June 1978 specified 1n the second subparagraph of Article 41         ( 2)
of the Irv»r1m Agreement between the European Economic Community and the People 's
Ucim cratic Republic of Algeria                 Is replaced by "31 December 1978".
                                 Article 2
                                                                                *
The text g * /en in annex X to this Agreement shall be substituted for the text
of Article 13 < <!> ( b) and ( 3>, first subparagraph, of the Interim Agreement .
                                 Article 3
Tf v.' text given in annex II shall be substituted for the text of annex C to the
Interim Age- nerifc concerning the minimum prices for prepared and preserved
sardines filing within subheading 16.04 D of the C.C.T.       The prices for the period
beginning 1 July 1978 shall be not lower than those specified 1n the said so
 !u<Jified einnex ?s updated by exchange of letters between the Contracting parties
in order to take account of the trend for the products In question .
 ---pagebreak---                                                                                ANNEX
     New text of Article 13 (2) (b) and (3), first subparagraph, of the Interim Agreement
  "(b) For the wine referred to in paragraph 1 and listed below, intended for fortifying
                 C<T
               hcj.^mg                                             Dctcriprloft
                  No
                22.05              Wine of fresh grape*; grape must with fermentation arretted by the
                                   addition of alcohol :
                                   C. Other:
                                         I, Of an actual alcoholic strength not exceeding 13°, in eon
             •                              tainers holding:
                                            ex b) More than two litres:
                                                    – Wine of fresh grapes intended for fortifying (')
                    <                  II. Of an actual alcoholic strength exceeding 13° but not
                                            exceeding IS'5 in container* holding:
                                            ex b} More than two litre*:
                                                    – Wine of fresh graj es intended for fortifyinp (')
       (*) fnrrv under tfm 9ii!-hr     it subject to conjniom to be <tcicrniinttl by tSf compctrm aulJtori'if,
           the European Communities
      customs duties on imports into the Community shall be reduced by 80% ,
       Furthermore in derogation from paragraph i and within the limits of an annual
      volume of 500 000 hectolitres, the import prices, plus customs duty actually levied,
      must be not less than the reference prices less 15 % of the difference between the
      reference price and the guide price.                                                                       •. .
      For the application of the preceding subparagraph;                        , ■     ' ■          '
            "guide price" shall mean the R I type guide price as regards red wine, and the
            A I tjpe guide prke as regards white wines;
     – "reference price" shall mean the prices applicable to the wine in question, a* j
            established by the Community and in force at any given time during the period
            concerned.               ,
3. The wine referred to in paragraph I and entitled under Algerian law to one ef the
following designations of origtm                                            ......
–• Aîn-»cs!>cm – Bouîra.
–• Medea ,                                                                                '            *
– Coteaux du Zaccar,                    '          ;
– Dahra,                                                                                <
~ Coteaux de Mascara,                         »                                                    '
– Monts du Tessala,
–- Coteaux de Tlemcen,
shall be exempt from customs duties or* importation into the Community, --ithin the
limits of a tariff quota covering a period of 12 mouths starting 1 July 1977, . overtng the
following overall quantities:
                                                                                (hi t »W5 M
             TWW QWIflliîV                         wiw In bulk                              .1 t .-
                400                                   170 ;                               230
 ---pagebreak---                                                                                ANNEX                 X I
                                                               ANNEX            ' C.         ...                        •'        '      :
Minimum prices applicable as                                                frort»-l July 1978 -                                                             ,                 j
                                                                       I   1      'I
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                                                             Snl^rm iCatMltr
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    ■/13-K4             I       20         t         »            ffi         53       0. 80                   . 11.10      ·, /·'·              11.ÎS
    1 / 3 « 1Λ                 »           I V»      «          1»            75       0.70      ! ·'ν ■ >. «.»                                  11. Μ     '
 ! l/l fictif           I      11          7 5/1     ft         110            n       un        I               14.73                           u.i»
 | t/1 eiufc                   10          HA        >0         1»0           u        an                                                        Λ.Ι0
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 l 'M cl'.*                    30          » 3/8 J 1 »          1SC j        15
 I /» rzs                             I                         174          125
                                                                                1.00                                                                        »    ι
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     \/5 (cub sea        I            i
                                                                11»          130 I                                                    ί
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     1 /i P JO                                                   Î50         117
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                          i           i           ι
  ) 1/i t' .s Iw                «           13 /*                330          M                                                                                /•
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                                                                                )
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                                                                                J            • 18.70
 ---pagebreak--- RECOMMENDATION FOR COUNCIL REGULATION ( EEC )
ON THE CONCLUSION OF THE AGREEMENT EXTENDING THE INTERIM AGREEMENT BETWEEN
THE EUROPEAN ECONOMIC COMMUNITY AND THE KINGDOM OF MOROCCO .
THE COUNCIL OF THE EUROPEAN COMMUNITIES ,
Having regard to the Treaty establishing the European Economic Community, and
in particular Article 113 thereof ,
                                                                           • •
Having regard to the recommendation from the Commission,
Whereas the Interim Agreement between the European Economic Community and
 the Kingdom of Morocco                 signed in       Rabat • on 27 April 1976
and extended successively on 30 June and 31 December 1977, expires not later than
30 June 1978 .
Whereas , pending the entry into force of the Cooperation Agreement between the
European Economic Community and the Kingdom of Morocco
signed in     Rabat   on    27 April 1976, it 1s necessary to extend the
Interim Agreement again ,
HAS ADOPTED THIS REGULATION    :                                   ;■
                              Article 1                         -/ >
The Agreement extending the Interim Agreement       between the Klropean Economic Comm
and the    Kingdom of Morocco                 is hereby appro^d on behalf of the
Community .    ,                                                    r
 The text of the Agreement 1s annexed to this Regulation .            '  .
                              Article 2         . .
 The President of the Council ts hereby authorized to d»3igr>at«? the person cm.mn
 ---pagebreak---                                                                              2.
to sign the Agreement for the purpose of binding the Community .
                             Article 3
This Regulation shall enter into force on the day following its publication
in the Official Journal of the European Communities .
This Regulation shall be binding in its entirety and directly applicable in all
Member Stater..
Dene at         ,
                                                      For the Council
                                                       The President
 ---pagebreak---                                AGREEMENT
 EXTENDING THE INTERIM AGREEMENT BETWEEN THE EUROPEAN ECONOMIC COMMUNITY AND
                       THE KINGDOM OF MOROCCO
THE COUNCIL OF THE EUROPEAN COMMUNITIES ,
of the one part-
HIS MAJESTY THE KING OF MOROCCO,
of the other part ,
WHEREAS the Interim Agreement between the European Economic Community and the
Kingdom of Morocco                               signed in  Rabat       on 27 Apr'
1976 and extended successively on 30 June and 31 December 197 7, expires not
later than 30 June 1978 .                                                  i
WHEREAS , pending the entry into force of the Cooperation Agreement between the
European Economic Community and the      Kingdom   of Morocco                signed
in      Rabat  on   27   April 1976, it is necessary to extend the Interim Agreenen 4
again ,
HAVE DECIDED to conclude     this Agreement and to this end have designated as their
Plenipotentiaries :
THE COUNCIL OF THE EUROPEAN COMMUNITIES     i .                       . C
HIS MAJESTY THE KING OF MOROCCO t
 ---pagebreak---    «!), havi i exchanged their full powers, found in good and due form, have agreed
     >   -> l le s :
                                        Article 1
 The d.stt "0 June 1978" specified in the second subparagraph of Article                  < 2)
 nf the Interim Agreement between the European Economic Community and the
  Kinqdou oi Morocco           is replaced by "31 December 1978"..       -         ..
                                        Article 2
The              o '? vn in ann»x     shall be substituted for the text of annex C to the
   uter i ™ •''nr.ie - v concerning the minimum prices for prepared and preserved
•^ ardirie - ia'linq withir subheading 16.04 D of the C.C.T ,        The prices for the period
 >. n inning 1              ;?8 shall be not lower than those specified in the said so
    >di f ietJ 'jr.- e - as updated by exchange of letters between the Contracting parties
« fi order tc tn-'ff a f, count of the trend for the products in question .
                                       Article 3 .
   his Agrceuent is drawn i«> in the Danish , Dutch, English, French, German , Italian .
  no ^ rabv, languages , earh of these texts being equally authentic .
                                                                s
                                       Article 4 .
      ■. A^reement «ha tl enter into forcé on 1 July 1978 .
 ---pagebreak---                                                                                •      ANNEX           .
                                                                   iwn &
          Minimum prices applicable as from 1                                       July           1978 .
               si »
                              ΠΓ                &Nl«9rns Casacll »     Ccffl-
                                                                                KUItw ?r1*M castor Wn laclvM
                                                                                1,1, NT carta lf 100 lint
                                                                                *
                                                                                ί
                                                  U \+\                                                                                {
                                                                                Co–unity
                        T.UT                                 W»1«
            Tr*h
        ■MUlallM
                      (• Ight
                         M
                               Ομμ       t                     es
                                                                              I           1» •(!«•                        •«w
                                                                              J             ÏÏ
  | F«A4 mliiMliN                      ΓT     i '
 ! ιλ·(Ι*                                y           κ          53      0.60                                               n,«
    1/1 «lak              »     ! V»     M          1»          »      «, το                                               13, W               r
                                                                                .
 11/» rMaH                      a »/«    n          130         »      un                                                  1S«
 ( 1 /1 «i *             M      3 1 /t              ItO          I                          11, «0                         15,70
                                                                                I
    1 /t «fcU?            2S    3 \h     M          1*0        Η                     ,■ ■■ «.*» . ;                    ;• M.1S       .1   :
    1 /1 kirirt                3 3/0     15         1»    1    H   I «.w ' !                                               η,ιβ
    1 /t t<<*       I    30     » 3/8 1 »           1(8       135                                                                             h     T
   1A »»
                                            :       1W ]
MA                       8     J 3/4 1Œ             1»        109               .       •  *v»       ;      ;
   1 * (< 1 * 30)     '
                                                    IM        «0                  »    *                        .'S:                          u
   1/t ml                M     1 1/1 125            185    ! 18 1      1.10
                                                                                ι ;
                                                                                I
   1/» •"»!           - 30     51A 150              M                                                                                I :
                                                           ; ,M                                                  •2» V             •        ' I.
1 1 /* tink              W     HA      175          250       11*      1,30                M,Ci .             1 .          «.»
                                                                                t
   1 /» f »                                         K9        m                                                                                I
   1A –ér\t»\9      I    W     ?       no           300       7C7      1,80                37, W
| 1 /t «wal              « Ii * 1/M    »o           3»  I     «0                                                                                '
                                                   m         TA        1.W                 M.M                     ,   f 3t,J«                   *
   1 /t dé lai           M     13/t    :u          i»        >u
   1 /7 hi              »      IV» »0              370 1     Ît5       1,70
1 1/t «mI l«e ' I        «0   « 1/7 1 325          KO        113       2,50                                               17,50
   1 /t Ml               tl   M        310         390       »?        Î.M                 H, 30                     .    «.«
   1/3 kHt                    11 1/7 1 38          «60  I 130 I        iM I       1                                                           *
   1 /» »                                          «II       37$     t                                                    W.J0
                                                   tot       750
                                                                       »,55
                              nin m                «50 I     171                                                          m,a .
r
   fmi ml)
1 1/2 Ml*             Llj              "I          »
                                                             «I        3,*
                                                                                – '                         t v ," "        ;
 ---pagebreak---  RECOMMENDATION FOR COUNCIL REGULATION ( EEC )
ON THE CP' CLUSION OF THE AGREEMENT EXTENDING THE INTERIM AGREEMENT BETWEEN
      .     ^ ROPCAN ECONOMIC COMMUNITY AND        THE REPUBLIC OF TUNISIA .
THE COUNCIL OF THE EUROPEAN COMMUNITIES ,
Having regm d to the Treaty establishing the European Economic Community, and
                                                 *
 in particular Article 113 thereof ,
Having regard to the recommendation from the Commission,
 whereas the Inter 'n Agreement between the European Economic Community and
    i.e Republic of Tunisia                           signed 1n Tunis        on 25  April 1976
   .ud extended successively on 30 June and 31 December 1977, expires not later than
."V.) June 1978 .
i-.'hereas , p^n 'ing the entry Into force of the Cooperation Agreement between the
European Economic Community and the                 Republic of Tunisia,
* igned in             Tunis     on    25   April 1976, it Is necessary to extend the
    nl M im Agreement ajain .
                                                                               *
       ' A00PTEP THIS REGULATION          ;
                                          Article 1
          'greement extending t'is Interim Agreement          between the European Economic Community
           He Republic of         Tunisia                  is hereby approved on behalf of the
             ' ' tY .
         tex       of the Agref.-nent is annexed to this Regulation.
                                              «r
                                          Article 2
         '%•<»& -i j «nt of tli* Council is hereby authorised to designate the person enpowered
 ---pagebreak---                                                                              2.
to sign the Agreement for the purpose of binding the Community-
                             Article 3
This Regulation shall enter into force on the day following Its publication
in the Official Journal of the European Communities .
This Regulation shall be binding in its entirety and directly applicable in all
                                * ,
Member States-
Done at
                                                      For the Council
                                                       The President
 ---pagebreak---                                     AGREEMENT
   EXTENDING THE INTERIM AGREEMENT BETWEEN THE EUROPEAN ECONOMIC COMMUNITY AND
                       THE REPUBLIC    OF  TUNISIA .
 THE COUNCIL OF THE EUROPEAN COMMUNITIES ,
 of the one part .
 THE PRESIDENT OF THE REPUBLIC OF TUNISIA ,
 of the other part ,
WHEREAS the Interim Agreement between the European Economic Community and the
   Republic ol Tunisia ,      signed in Tunis on 25 April   1976
          and extended successively on 30 June and 31 December 1977, expires not
 later than ,>G June 1978 .
WHtr.tAS , pending the entry into force of the Cooperation Agreement between the
 European Economic Community and the Republic of Tunisia , signed
 in      Tunis     on ^ Ap - U 1976, 1t is necessary to extend the Interim Agreement
    •jain ,                                                            *
t ' VE DECIDED to conclude        this Agreement and to this end have designated as their
P'.^oipotentiaries :
•'      COUNCIL OF THE EUROPEAN COMMUNITIES       J
        PRESTDCNIT M-' f'Hf i'CfUBl IC OF TUNISIA    :
 ---pagebreak---  WHO, having exchanged their full powers, found In good and due form, have agreed
 as follows :
                               Article 1
The date '30 June 1978" specified in the second subparagraph of Article 42       .<£
of the Interim Agreement between the European Economic Community and the
Republic of Tunisia is replaced by " 31 December 1978".    ""   ^
                               Article 2 >
The text given in Annex shall be substituted for the text of Annex C to the
 Interim Agreement concerning the minimum prices for prepared and preserved
 sardines falling within subheading 16.04 D of the C.C.T.   The prices for the
period beginning 1 July 1978 shall be not lower than those specified in the said
                                                                        ι
 so modified Annex as updated by exchange of letters between the Contracting
parties in order to take account of the trend for the products in question .
                              Article 3
This Agreement is drawn up in duplicate in the Danish , Dutch, English, French ,
German , Italian and Arabic languages, each of these texts being equally authentic
                            ■ Article 4    .
This Agreement shall enter into force on 1 July 1978 .
 ---pagebreak---                                                                                ANNEX
             Minimum prices applicable as from                                                   1.7.1978
                                   Γ\Γ                            Ciaacll»
                                                                                KUIm
                                                                                Mf cart#* if id ttaa
                                                                                i«| «M
                                                        HtlflM                  (luts
                                                  r                                      i                                 faMlh
                            Ta!«1                                                                                j
             TfW<
 I       aMclflcatltw      MoM          Omkm                         «i
                                                                                |                 %9 «llv» -                          •Har
                                                                            i
                                                                                I                   ^
 I fcctancutw tolta* I                                          ΓΊ
 1 1/10 cUi                  20 '        I         U         K       SI         0.1»                         H.30 . '      ,      I              «.«          •
    1 /S ckS                 S           13/»      »        129      15         a.»            ,             1I.3J                               13.3#    '
 ! l/l rtéaL*4        I      11          » 5/1    M         130      η          απ                           n.»                                 IV. 43
    1 /» ( laf               30          31/»      (0       MO       (3         0.»                          11.40                   -           «. 20
    1/* tMcUl                29          1 1 /8    •0       i;o      to         λβ                           1T.«J                               11.15 1         .
 1 1/1 1m »Ut            I   »»          13/1      K        Iti      71         0.C0                         11.»»                               17.10
 il /4 cK !>                 30          ♦ 3/1 1 »          110     1»                   I            >            · ■
    i /« f                                                  1»
                                                                                1.00
    lA uBinl                 22         13/4      106       m       i« I                         ■   • -     20.50 , '                       , 10.00
    1A> ( clcb ]<a                                          in      130
 I 1A »«int                  ?*                             iti     125         1.10                         22.»                                20. M
 i 1/t uml                   30          5 1 /»   150       2»0     m
 1 1/» tltib                 W           4 1 /4 175         îîî     17»         1.30                         20.05                .    *      . 2«.T0
 j i/; P30                                                  2i3     1Π
 1 1 A ImcICM                10                   700       3CO     2CT         1.M    !                     32.»
 j 1/( ctol                              I ^4 310
                                                i
                                                        /• 32J      2sC
h/3 r                                           I         337       250 !        I.ffl j i   .             î5-»0                               ■ n* M        • • : 'i' i
   V'    club tort            «0       8 V» 2*8 :          1?0      2«     I
   1 /: t «                  30   '!   M /;       ;:î     3:0                    2.20                   * 45.10                                   it.ca        •   -
i 1 /» uciJl long     I      M     1 11 U2 ! )n            423      313          2.»       i       •       51.25
1 1A                          4*      1f          ΓΊ0      r,o      m            Î.&0                      M.J0                                   43.40
   1 /2 ■              !      40
                                    jttl/V vis ^ m                  330
                                                                               ' 2.70   »'
                                    !           I
                                                                                -  ,           ■
   1 /2 P                                                  478      375                 Γ :-                55.35 ·'                              si^o     ■             i
                                                                                I
   1 /1                                                    «Si  ι   750
   »Λ                         «0      :? ι Γ      7»       130      <71
                                                                                W5
                                                                                •  ».»                            • «s.» • |
j Ove) batto*                                         i
                                                                i
                                                                i            I          ;     ■
   1 /2
                        I             u           «5       SS5                    ï.<«
                                                                                ;           –
                                                                                «0.79               j
                                                                                !
                                                                                04.00              . '
 ---pagebreak---                                            4
         RECOMMENDATION FOR COUNCIL REGULATION ( EEC )
ON THE CONCLUSION OF THE AGREEMENT EXTENDING THE INTERIM AGREEMENT
BETWEEN THE EUROPEAN ECONOMIC COMMUNITY AMU THE ARAB REP'ULIC OF EGYPT ,
THE COUNCIL OF THE EUROPEAN COMMUNITIES ,
Having regard to the Treaty establishing the European Economic Community ,
and in particular Article 113 thereof ,
                                                                                i
Having regard to the recommendation from the Commission ,
Whereas the Interim Agreement between the European Economic Community and the
Arab Republic of Egypt ,
signed in Brussels , on 18   January 1977      , expires not later than
30 June 1978 ,
Whereas , pending the entry into force of the Cooperation Agreement between
the European Economic Community and the      Arab Republic of Egypt ,
signed in Brussels on the same day , it is necessary to extend the Interim
Agreement ,
HAS ADOPTED THIS REGULATION :
                       Article 1                                                 *
The Agreement extending the Interim Agreement between the European Economic
Community and the   Arab Republic    of   Egypt               is hereby approved
on behalf of the Community .
The text of the Agreement is annexed to this Regulat ; ti .
                       Arti ele 2
The President of the Council    it hereby authorized to : : r:ijnate l^r •■■ir
empowered to sign the Agree r ■ -i for t-ic pur pose of L i * i i i . j i:he Community .
 ---pagebreak---                       Article 3
This Regulation shall enter into force on the day following its publication
in the Official Journal of the European Communities .
This Regulation shall be binding in its entirety and directly applicable in
all Member States .
Done at                                        FOP the Council
                                                The President
 ---pagebreak---                              AGREEMENT
 EXTENDING THE INTERIM AGREEMENT BETWEEN THE EUROPEAN ECONOMIC COMMUNITY
                 AND THE ARAB REPUBLIC OF EGYPT
 THE COUNCIL OF THE EUROPEAN COMMUNITIES ,
of the one part /
THE PRESIDENT OF THE     ARAB REPUBLIC OF EGYPT,                          <
of the other part ,
WHEREAS the Interim Agreement between the European Economic Community and
the Arab Republic of Egypt ,
signed in Brussels , on     18 January 1977,
expires not later than 30 June 1978 ,
WHEREAS , pending the entry into force of the Cooperation Agreement between
the European Economic Community and the Arab Republic of Egypt ,
signed in Brussels , on the same day , it is necessary to extend the Interim
Agreement ,                                                                  ■
HAVE DECIDED to conclude this Agreement and to this end have designated
as their Plénipotentiaires :
THE COUNCIL OF THE EUROPEAN COMMUNITIES i
THE PRESIDENT OF THE ARAB REPUBLIC OF EGYPT,
WHO , having exchanged their full powers , found in good and due form ,
have agreed as follows :
                       Article 1
The date " 30 June 1978"      specified in the second subparagraph of Article 41
( 2 ) of the Interim Agreement between the European Economic Community and the
Arab Republic of Egypt                              is replaced by*31 December
1978 ?
 ---pagebreak---                        Article 2
This Agreement is drawn up in duplicate in the Danish , Dutch , English ,
French , German , Italian and Arabic languages , each of these texts being
equally authentic .                                      ' !■"
                      Article 3
                                                                " %   »
This Agreement shall enter into force on 1 July 1978 .
 ---pagebreak---             RECOMMENDATION FOR COUNCIL REGULATION ( EEC )
   ON THE CONCLUSION OF THE AGREEMENT EXTENDING THE INTERIM AGREEMENT
  BETWEEN THE EUROPEAN ECONOMIC COMMUNITY AND THE HASHEMI TE KINGDOM OF JORDAN .
  THE COUNCIL OF THE EUROPEAN COMMUNITIES ,,
  Having regard to the Treaty establishing the European Economic Community,
  and in particular Article 113 thereof /
  Having regard to the recommendation from the Commission ,
 Whereas the Interim Agreement between the European Economic Community and the
  Hashemi te Kingdom of Jordan ,
 signed in Brussels , on      13 January 1977 t expires not later than
 30 June 1978 .                           *
                                                                                ,
 Whereas ^ pending the entry Into force of the Cooperation Agreement between
 the European Economic Community and the Hashemi te Kingdom of Jordan,
 signed in Brussels on the same day, it is necessary to extend the Interim
 Agreement ,
 HAS ADOPTED THIS REGULATION : "
                         Article 1
Tt.e Agreement extending the Interim Agreement between the European Economic
Community and the Hashemite Kingdom of Jordan               is hereby approved
on behalf of the Community .
                                                                          »
The text of the Agreement, is annexed to this ReguUtion .
                         Article 2
The President of the Council is hereby authorized to designate the pernor
empowered to sign the Agree"".! it for the purpose of I " riding 'the Commun ity .
 ---pagebreak---                                                                              2.
                            Article 3
                                                               «
  ■ ns i ?9uUtion shall enter into force on the day following its publication
  in the Official Journal of the European Communities.
 Thi - -Vjutrtloo shoU be binding -in its entirety and directly appUcable in
 a .l l ;. n . :«r States .                                         ■  »
) one Cii                                     '  e    .■ ^
                                                 For the Council
                                                  The President
 ---pagebreak---                             AGREEMENT
EXTENDING THE INTERIM AGREEMENT BETWEEN THE EUROPEAN ECONOMIC COMMUNITY
                 AND THE HASHEMITE KINGDOM OF JORDAN .
THE COUNCIL OF THE EUROPEAN COMMUNITIES-
of the one part ,                                                              .
HIS MAJESTY THE KING OF THE HASHEMITE KINGDOM OF JORDAN ,
of the other part ,
WHEREAS the Interim Agreement between the European Economic Community and
the Hashemite      Kingdom o-f   Jordan,
signed in Brussels , on 18 January 1977,                                  .
expires not later than 30 June 1978,
WHEREAS > pending the entry into force of the Cooperation Agreement between
the European Economic Community and the Hashemite Kingdom of Jordan ,
signed in Brussels , on the same day , It is necessary to extend the Interim
Agreement ,
HAVE DECIDED to conclude this Agreement' and to this end have designated
as their Plénipotentiaires :
THE COUNCIL OF THE EUROPEAN COMMUNITIES !
HIS MAJESTY THE KING OF THE HASHEMITE KINGDOM OF JORDAN,
WHO, having exchanged their full powers , found in good and due form,
have agreed as follows :                 «
                                                            ,   .
                       Article 1
The date " 30 June 1978"       specified in the second subparagraph of Ai ■: i'.U 3
( 2 ) of the Interim Agreement between the Europrori Economic Community and the
Hashemite Kingdom of Jordan                   ' . .. is replaced by"31 December
1978 ?                                                            "
 ---pagebreak---                                                                            2.
              '                                       .     i
                      Article 2
            r
                                                  t       .
Thi ? Agreement is drawn up m duplicate in the Danish , Dutch , English ,
French , German , Italian and Arabic languages , each of these texts being
equally authentic .
                      Article 3
This Agreement shall enter into force on 1 July 1978 .
 ---pagebreak---           RECOMMENDATION FOR COUNCIL REGULATION ( EEC )
ON THE CONCLUSION OF THE AGREEMENT EXTENDING THE INTERIM AGREEMENT
BETWEEN THE EUROPEAN ECONOMIC COMMUNITY AND THE      LEBANESE REPUBLIC .
THE COUNCIL OF THE EUROPEAN COMMUNITIES ,    .
Having regard to the Treaty establishing the European Economic Community /
and in particular Article 113 thereof .
Having regard to the recommendation from the Commission ,
                          %                                          •, p :
Whereas the Interim Agreement between the European Economic Community and the
Lebanese Republic ,
signed in Brussels , on     3 May   1977   ' , expires not later than
30 June 1978 .                           ,
Whereas , pending the entry into force of the Cooperation Agreement between
the Europeaji Economic Community and the Lebanese Republic ,
signed in Brussels on the same day , it is necessary to extend the Interim
Agreement ,
                                                                   ' (      *
HAS ADOPTED THIS REGULATION :
                                                                              1
                        Article 1
The Agreement extending the Interim Agreement between the European Economic
Community and the      Lebanese   Republic                is hereby approved
on behalf of the Community .
The text of the Agreement is annexed to this Regulation .
                        Article 2
The President of the Council is hereby authorized to designate the person
empowered to sign the Agree ;      for the purpose of bindinu the Community .
 ---pagebreak---                                                                           2.
                      Article 3
This Regulation shall enter into force on the day following its publication
in the Official Journal of the ' European Communities .
This Regulation shall be binding in its entirety and directly applicable in
all Member States .
Done at                                         For the Council
                                                 The President
 ---pagebreak---                               AGREEMENT
EXTENDING THE INTERIM AGREEMENT BETWEEN THE EUROPEAN ECONOMIC COMMUNITY
                 AND THE  LEBANESE     REPUBLIC
THE COUNCIL OF THE EUROPEAN COMMUNITIES ,       -
of the one part ,                           ,                   •
THE PRESIDENT OF THE      LEBANESE REPUBLIC ,
of the other part ,                                                                      I
WHEREAS the Interim Agreement between the European Economic Community and
the     Lebanese   Republic , .                                                          ;
signed in Brussels , on 3       May ' 1977,
expires not later than 30 June 1978 ,
WHEREAS , pending the entry into force of the Cooperation Agreement between
the European Economic Community and the Lebanese Republic ,                             ,
signed in Brussels , on the same day , it is necessary to extend the Interim
Agreement ,
HAVE DECIDED to conclude this Agreement' and to this end have designated
as their Plenipotentiaires :                                                    £
THE COUNCIL OF THE EUROPEAN COMMUNITIES :                                       §
                                                                              I.V-'   é
                                                               * ?      ; • : *     .
THE PRESIDENT OF THE     LEBANESE REPUBLIC ,
WHO , having exchanged their fult powers , found in good and due form ,
have agreed as follows :
                       Article 1
The date " 30 June 1978"        specified in the second subparagraph of Article 38
( 2 ) of the Interim Agreement between the European Economic Community and the
Lebanese    Republic                                 .."is replaced by B 31 December
1978 ?                                                    >
 ---pagebreak---                                                                             2.
              '                                             ι
                                                                          I
                       Article 2
            »
                                                  ♦ •           1
This Agreement is drawn up in duplicate in the Danish , Dutch , English ,
French , German , Italian and Arabic languages , each of these texts being
equally authentic .
                      Article 3
This Agreement shall enter into force on 1 July 1978 .
 ---pagebreak---          RECOMMENDATION FOR COUNCIL REGULATION ( EEC )
 ON THE CONCLUSION OF THE AGREEMENT EXTENDING THE INTERIM AGREEMENT
BETWEEN THE EUROPEAN ECONOMIC COMMUNITY AND THE      ARAB REPUBLIC OF SYRIA .
THE COUNCIL OF THE EUROPEAN COMMUNITIES -     .
                                                                  «     *
Having regard to the Treaty establishing the European Economic Community /
and in particular Article 113 thereof ,                                     '
Having regard to the recommendation from the Commission ,
Whereas the Interim Agreement between the European Economic Community , and the
Arab   Republic  of  Syria ,
signed in Brussels , on   18  January    19/7 , expires not later than
30 June 1978 .
Whereas , pending the entry into force of the Cooperation Agreement between
the European Economic Community and the      Arab Republic   of  Syria
signed in Brussels on the same day, it is necessary to extend the Interim
Agreement ,
                                       t
HAS ADOPTED THIS REGULATION :
                        Article 1
The Agreement extending the Interim Agreement between the European Economic
Community and the    Arab    Republic of ' Syria          is hereby approved
on behalf of the Community .
The text of the Agreement is annexed to this Regulation .     -
                        Article 2
The President of the . Council is hereby authorized to designate the person
empowered to sign the Agreement for the purpose of binding the Community .
 ---pagebreak---                                                                           2.
                       Article 3
                                        4
This Regulation shall enter into force on the day following its publication
in the Official Journal' of the European Communities .
This Regulation shall be binding in its entirety and directly applicable in
                                                                     0
all Member States .
Done at                                         For the Council
                                                 The President
 ---pagebreak---                                       AGREEMENT
EXTENDING THE INTERIM AGREEMENT BETWEEN THE EUROPEAN ECONOMIC COMMUNITY
                  AND THE       ARAB     REPUBLIC   OF        SYRIA .
THE COUNCIL OF THE EUROPEAN COMMUNITIES .                                 ,                                   ,
of the one part ,                                                                                .
THE PRESIDENT OF THE            ARAB     REPUBLIC   OF        SYRIA ,
of the other part ,
                                                                                * •'
WHEREAS the Interim Agreement between the European Economic Community and
the     Arab Republic of Syria ,
signed in -Brussels , on             18  January   1977,
expires not later than 30 June 1978,
WHEREAS , pending the entry into force of the Cooperation Agreement between
the European Economic Community and the                   Arab        Republic        of   Syria ,
signed in Brussels , on the same day , it is necessary to extend the Interim
Agreement ,
HAVE DECIDED to conclude this Agreement' and to this end have designated
as their Plénipotentiaires :
THE COUNCIL OF THE EUROPEAN COMMUNITIES i
THE PRESIDENT OF THE           ARAB      REPUBLIC   OF        SYRIA ,
                                             {        • , ,                 ' V:     \...   V;       ■ ■■■■ :   ^ ..
                                                    . '     '     _ ,               ' ' ;                  I
WHO, having exchanged their full powers , found in good and due form/
have agreed as follows :
                         Article 1
                \      * ■ ■
                             ''v                                                  ■            •
The' date " 30 June 1978"               specified in the second subparagraph of Article 38
( 2 ) of the Interim Agreement between the European Economic Community and the
 Arab Republic      of Syria                                          - is replaced by" 31 December
1978 ;                           ' '                                             . .\ ·.:ν         ..
                                                                                ••» /
 ---pagebreak---                                          A r 1: 1  f
 ' M ' 's A 3 re !- ;!; era ' -• CM"<-,v/n un in f.'up 1 i ca L p - i :i the D Dish            )!J ich
f I <-:> \ C!'-   (., cr<r,;jn I !. & I. •>. ;;n cTid A r 0 !:> i C larvi'i.infl"?
                                                                       ^•.«. 'ges , o.T'h
                                                                                each of
                                                                                of these texts beu .
             î, y f)ut h rot ic-
                                        Article 3
This Agreement shall enter into force on 1 July 1978 .


title: Recommendation for a Council opinion in accordance with the third paragraph of Article 5 of Council Regulation (EC) No 1466/97 of 7 July 1997 on the updated stability programme of France, 2006-2010

text:
Important legal notice

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52007SC0066

Recommendation for a Council opinion in accordance with the third paragraph of Article 5 of Council Regulation (EC) No 1466/97 of 7 July 1997 On the updated stability programme of France, 2006-2010  /* SEC/2007/0066 final */

	[pic] | COMMISSION OF THE EUROPEAN COMMUNITIES |Brussels, 23.1.2007SEC(2007) 66 finalRecommendation for aCOUNCIL OPINIONin accordance with the third paragraph of Article 5 of Council Regulation (EC) No 1466/97 of 7 July 1997 On the updated stability programme of France, 2006-2010(presented by the Commission)EXPLANATORY MEMORANDUM1. GENERAL BACKGROUNDThe Stability and Growth Pact, which entered into force on 1 July 1998, is based on the objective of sound government finances as a means of strengthening the conditions for price stability and for strong sustainable growth conducive to employment creation. The 2005 reform of the Pact acknowledged its usefulness in anchoring fiscal discipline but sought to strengthen its effectiveness and economic underpinnings as well as to safeguard the sustainability of the public finances in the long run.Council Regulation (EC) No 1466/97 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies[1], which is part of the Stability and Growth Pact, stipulates that Member States have to submit, to the Council and the Commission, stability or convergence programmes and annual updates thereof (Member States that have already adopted the single currency submit (updated) stability programmes and Member States that have not yet adopted it submit (updated) convergence programmes). The first stability programme of France was submitted in January 1999. In accordance with the Regulation, the Council delivered an opinion on it on 15 March 1999 on the basis of a recommendation from the Commission and after having consulted the Economic and Financial Committee. In accordance with the same procedure, updated stability and convergence programmes are assessed by the Commission and examined by the Committee mentioned above, while the Council may examine them.2. BACKGROUND FOR THE ASSESSMENT OF THE UPDATED PROGRAMMEThe Commission has examined the most recent update of the stability programme of France, submitted on 6 December 2006, and has adopted a recommendation for a Council opinion on it.In order to set the scene against which the budgetary strategy in the updated stability programme is assessed, the following paragraphs summarise:1.  the economic and budgetary performance over the last ten years2.  the most recent assessment of the country’s position under the preventive arm of the Stability and Growth Pact (summary of the Council opinion on the previous update of the stability programme) and3.  the Commission’s assessment of the October 2006 national reform programme.2.1. Recent economic and budgetary performanceBased on the experience of the last ten years, the French business cycle moves much in line with that of the euro area and shows similar levels in growth. Nevertheless, the unemployment rate averaged 10% in the last decade in France, exceeding euro area unemployment rate by one percentage point. Although it recently showed a downward trend from 12.1% in 1997 to below 9%, it is still relatively high. The rather solid growth performance of the French economy was largely fuelled by domestic demand and especially by private consumption thanks to supportive developments in the purchasing power of households. The demand side of the economy benefited from the effects of a favourable policy mix but this came at the price of significant fiscal imbalances. The consolidation effort, which started in 2004, reduced the deficit to below the 3% Treaty reference value in 2005, leading to the abrogation of the excessive deficit procedure in January 2007. However, further consolidation is needed both to improve the long-term sustainability of public finances and to create a budgetary for economic downturns. A greater increase in the low employment of older workers than currently assumed would foster GDP growth and reduce the pressure on public finances. Consequently, the challenges faced by the French economy are related to sustainability and efficiency.2.2. The assessment in the Council opinion on the previous programmeOn 24 March 2006, the Council adopted its opinion on the previous update of the stability programme, covering the period 2005-2009 stating that it "welcomes the priority given to debt reduction in the French stability programme but notes that there are risks linked to the achievement of the budgetary targets and to long-term sustainability of public finances". It invited France to "ensure the necessary structural adjustment to bring the general government deficit below 3% of GDP in 2006 in a credible and sustainable manner; take the necessary measures to ensure the planned fiscal consolidation towards the medium term objective and improve long-term sustainability; and strengthen the monitoring and enforcement of expenditure rules defined for the sub-sectors of the general government so as to ensure the respect of the ambitious multi-annual expenditure ceilings".2.3. The Commission assessment of the October 2006 national reform programmeThe Implementation Report of the National Reform Programme of France, provided in the context of the renewed Lisbon strategy for growth and jobs, was submitted on 5 October 2006. France’s National Reform Programme identifies as priorities: the creation of the necessary conditions for strong economic growth, the reduction of unemployment and the increase in employment and the building-up of a knowledge-based economy.The Commission’s assessment (adopted as part of its December 2006 Annual Progress Report[2]) showed that France is making progress with the implementation of its National Reform Programme. Notably in a context of supportive macroeconomic developments, France has pursued its effort of fiscal consolidation, while trying to raise its potential growth, notably through new commitments towards research and innovation. Labour market performance is still subdued.Against the background of strengths and weaknesses identified, France was recommended to take action in the areas of: long-term sustainability of public finances; competition in gas, electricity and railway freight; as well as employment protection and life-long learning.Box: Main points covered by the assessment As required by Article 5(1) of Council Regulation (EC) No 1466/97, the assessment covers the following points: whether the economic assumptions on which the programme is based are plausible; the medium-term budgetary objective (MTO) presented by the Member State and whether the adjustment path towards it is appropriate; whether measures being taken and/or proposed to respect that adjustment path are sufficient to achieve the MTO over the cycle; when assessing the adjustment path towards the MTO, whether a higher adjustment effort is made in economic good times, whereas the effort may be more limited in economic bad times, and, for euro-area and ERM II Member States, whether the Member State pursues an annual improvement of the cyclically-adjusted balance, net of one-off and other temporary measures, of 0.5% of GDP as a benchmark to meet its MTO; when defining the adjustment path to the MTO (for Member States that have not yet reached it) or allowing a temporary deviation from the MTO (for Member States that have), the implementation of major structural reforms which have direct long-term cost-saving effects (including by raising potential growth) and therefore a verifiable impact on the long-term sustainability of public finances (subject to the condition that an appropriate safety margin with respect to the 3% of GDP reference value is preserved and that the budgetary position is expected to return to the MTO within the programme period), with special attention for pension reforms introducing a multi-pillar system that includes a mandatory, fully-funded pillar; whether the economic policies of the Member State are consistent with the broad economic policy guidelines. The plausibility of the programme’s macroeconomic assumptions is assessed by reference to the Commission services’ autumn 2006 forecast, using also the commonly agreed methodology for the estimation of potential output and cyclically-adjusted balances. The assessment of consistency with the broad economic policy guidelines is made against the broad economic policy guidelines in the area of public finances as included in the integrated guidelines for the period 2005-2008. The assessment also examines: the evolution of the debt ratio and the outlook for the long-term sustainability of the public finances, which should be given “sufficient attention in the surveillance of budgetary positions” according to the Council report of 20 March 2005 on “Improving the implementation of the Stability and Growth Pact”. A Commission Communication of 12 October 2006 sets out the approach to the assessment of long-term sustainability[3]; the degree of integration with the national reform programme, submitted by Member States in the context of the Lisbon strategy for growth and jobs. In its cover note of 7 June 2005 to the European Council on the broad economic policy guidelines for the period 2005-2008, the ECOFIN Council stated that the national reform programmes should be consistent with the stability and convergence programmes; compliance with the code of conduct[4], which inter alia prescribes a common structure and set of data tables for the stability and convergence programmes. |-  Recommendation for aCOUNCIL OPINIONin accordance with the third paragraph of Article 5 of Council Regulation (EC) No 1466/97 of 7 July 1997 On the updated stability programme of France, 2006-2010THE COUNCIL OF THE EUROPEAN UNION,Having regard to the Treaty establishing the European Community,Having regard to Council Regulation (EC) No 1466/97 of 7 July 1997 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies[5], and in particular Article 5(3) thereof,Having regard to the recommendation of the Commission,After consulting the Economic and Financial Committee,HAS DELIVERED THIS OPINION:4.  On [27 February 2007] the Council examined the updated stability programme of France, which covers the period 2006 to 2010.5.  The programme contains two different scenarios for the macroeconomic and budgetary projections: a “low” scenario and a “high” scenario. The “low” scenario, which is in line with the Commission services' autumn 2006 forecast, is considered the reference scenario for assessing budgetary projections. Assessed against currently available information, it appears to be based on plausible assumptions, although somewhat on the high side concerning 2006. It envisages that real GDP will grow by 2¼% per year over the programme period. The programme’s projections for inflation also appear realistic.6.  For 2006, the general government deficit is estimated at 2.7% of GDP in the Commission services’ autumn 2006 forecast, against a target of 2.9% of GDP for 2006 set in the previous update of the stability programme (and a deficit outturn of 2.9% of GDP in 2005). Although the GDP growth assumption is the same in the previous and current update, a range between 2% and 2.5%, the composition of growth is more tax rich in the current update as it is based on higher private consumption. The expected improvement in the deficit is supported by (a) an acceleration in GDP growth (from 1.2% to about 2%) which boosts revenues (about EUR 5bn, i.e. 0.3 percentage point of GDP), and (b) a slowdown in expenditure.7.  The programme is inscribed in the French authorities' overarching strategy of "national commitment to debt reduction" and is presented as a multi-annual programme for debt reduction targeting a zero deficit and a debt level below 60% of GDP by 2010. It foresees a continuous but back loaded decrease in the headline deficit from 2.7% of GDP in 2006 (2.5% in 2007) to 0% of GDP in 2010, amounting to an overall reduction by 2.7 percentage points of GDP. The primary deficit, of 0.1% of GDP in 2006, would turn into a surplus from 2007 onwards and reach 2.5% of GDP in 2010. The planned fiscal consolidation is expenditure-driven: it is based on multi-annual targets for the increase in the general government expenditures that imply a reduction in the (primary) expenditure-to-GDP ratio by close to 3 percentage points of GDP over the period. Compared with the previous programme, the new update largely confirms the planned fiscal adjustment against a broadly unchanged macroeconomic scenario.8.  The structural balance (i.e. the cyclically-adjusted balance net of one-off and other temporary measures) calculated according to the commonly agreed methodology is planned to improve from a deficit of about 2½% of GDP in 2006 to a surplus of about ¼% at the end of the programme period (2010). As in the previous update of the stability programme, the medium-term objective (MTO) for the budgetary position inferred from the programme is a balanced position in structural terms, which the programme aims to achieve by 2010. As the MTO is more demanding than the minimum benchmark (estimated at a deficit of around 1½% of GDP), achieving it should fulfil the aim of providing a safety margin against the occurrence of an excessive deficit. The MTO lies within the range indicated for euro-area and ERM II Member States in the Stability and Growth Pact and the code of conduct and adequately reflects the debt ratio and average potential output growth in the long term.9.  The risks to the budgetary projections in the programme appear broadly balanced in the near term (until 2008) but budgetary outcomes could be worse than projected in the programme in the outer years. Concerning the near term, the adjustment mainly relies on stronger expenditure control at the State level, which is backed by the progressive implementation of the new Constitutional Bylaw on Budget Bills[6] and the results of the modernisation audits and is plausible although local authorities' expenditure trends are a risk factor. Regarding the outer years, the strong adjustment targeted raises doubts about its full achievement. Indeed, even if the track record of the compliance with its expenditure norm at the State level is good, the drastic restraint envisaged calls for some reforms which are not spelled out in the programme. More generally, the track record related to the achievement of the overall general government expenditure ceilings, at the heart of the French budgetary consolidation strategy, together with the lack of enforcement mechanisms and the absence of expenditure rules for some sub-sectors, notably for local authorities, tilt the risks to the negative side.10.  In view of this risk assessment, the budgetary stance in the programme may not be sufficient to ensure that the MTO is achieved by 2010 as envisaged in the programme. However, it seems to provide a sufficient safety margin against breaching the 3% of GDP deficit threshold with normal macroeconomic fluctuations towards the end of the programme period, most probably from 2009. Except for 2007, the pace of the adjustment towards the MTO implied by the programme is broadly in line with the Stability and Growth Pact, which specifies that, for euro-area and ERM II Member States, the annual improvement in the structural balance should be 0.5% of GDP as a benchmark and that the adjustment should be higher in good economic times and could be lower in bad economic times. Although France has only just corrected its excessive deficit, the envisaged adjustment for 2007 would be limited to 0.3 percentage point of GDP, while the economic situation cannot be assessed as "bad times" and tax elasticities even point to "good times".11.  Government gross debt is estimated to have reached 64.6% of GDP in 2006, above the 60% of GDP Treaty reference value. The programme projects the debt-to GDP ratio to decline by 6½ percentage points over the programme period. The evolution of the debt ratio might be less favourable than projected in the outer years of the programme given (1) the risks to the budgetary targets mentioned above, and (2) uncertainty about the materialization of non-strategic asset sales which tend to be larger than the historical average. Despite these risks, the debt ratio seems to be sufficiently diminishing towards the reference value over the programme period.12.  The long-term budgetary impact of ageing in France is slightly lower than the EU average, with pension expenditure showing a somewhat more limited increase than in many other countries, as a result of the pension reforms already enacted. The initial budgetary position, albeit improved compared with 2005, still constitutes a risk to sustainable public finances even before the long-term budgetary impact of an ageing population is considered. Moreover, the current level of gross debt is above the Treaty reference value. Further budgetary consolidation would contribute to reducing risks to the sustainability of public finances, which would also benefit from preserving and possibly enhancing the benefits of the pension reform. Overall, France appears to be at medium risk with regard to the sustainability of public finances.13.  The stability programme contains a qualitative assessment of the overall impact of France’s October 2006 national reform programme within the medium-term fiscal strategy. However, it provides no systematic information on the direct budgetary costs or savings of the main reforms envisaged in the national reform programme but its budgetary projections seem to take into account the public finance implications of the actions outlined in the national reform programme. The measures in the area of public finances envisaged in the stability programme seem consistent with those foreseen in the national reform programme.14.  The budgetary strategy in the programme is broadly consistent with the broad economic policy guidelines included in the integrated guidelines for the period 2005-2008.15.  As regards the data requirements specified in the code of conduct for stability and convergence programmes, the programme has some gaps in the required and optional data[7].The overall conclusion is that, after the correction of the excessive deficit and in a context of strong revenue growth, the programme gives priority to debt reduction and envisages progress towards the MTO through an expenditure-based but somewhat back-loaded adjustment. There are risks to the achievement of the budgetary targets, especially in the outer years.In view of the above assessment France is invited to:(i) exploit the robust growth prospects and the positive base effect from a stronger-than previously expected 2006 outturn to frontload the adjustment towards the MTO, especially in 2007, with a view to achieving the MTO by the end of the period, thereby reducing the level of the debt and improving the long-term sustainability of public finances;(ii) strengthen the monitoring and enforcement of expenditure rules for all sub-sectors of the general government so as to ensure the respect of the ambitious multi-annual expenditure ceilings.Comparison of budgetary developments and projections2005 | 2006 | 2007 | 2008 | 2009 | 2010 |Real GDP (% change) | SP Dec 2006 | 1.2 | 2.0-2.5 | 2.0-2.5 | 2 ¼ | 2 ¼ | 2 ¼ |COM Nov 2006 | 1.2 | 2.2 | 2.3 | 2.1 | n.a. | n.a. |SP Jan 2006 | 1.5-2.0 | 2.0-2.5 | 2 ¼ | 2 ¼ | 2 ¼ | n.a. |HICP inflation (%) | SP Dec 2006 | 1.9 | 2.0 | 1.9 | 1 ¾ | 1 ¾ | 1 ¾ |COM Nov 2006 | 1.9 | 2.0 | 1.8 | 1.9 | n.a. | n.a. |SP Jan 2006 | 1.9 | 1.8 | 1 ¾ | 1 ¾ | 1 ¾ | n.a. |Output gap (% of potential GDP) | SP Dec 20061 | -0.8 | -0.6 | -0.6 | -0.5 | -0.4 | -0.3 |COM Nov 20065 | -0.8 | -0.8 | -0.7 | -0.9 | n.a. | n.a. |SP Jan 20061 | -0.5 | -0.4 | -0.6 | -0.8 | -0.9 | n.a. |General government balance (% of GDP) | SP Dec 2006 | -2.9 | -2.7 | -2.5 | -1.8 | -0.9 | 0.0 |COM Nov 2006 | -2.9 | -2.7 | -2.6 | -2.2 | n.a. | n.a. |SP Jan 2006 | -3.0 | -2.9 | -2.6 | -1.9 | -1.0 | n.a. |Primary balance (% of GDP) | SP Dec 2006 | -0.2 | -0.1 | 0.1 | 0.7 | 1.7 | 2.5 |COM Nov 2006 | -0.2 | -0.1 | 0.0 | 0.4 | n.a. | n.a. |SP Jan 2006 | -0.3 | -0.3 | 0.0 | 0.6 | 1.6 | n.a. |Cyclically-adjusted balance (% of GDP) | SP Dec 20061 | -2.5 | -2.4 | -2.2 | -1.6 | -0.7 | 0.2 |COM Nov 2006 | -2.5 | -2.3 | -2.3 | -1.8 | n.a. | n.a. |SP Jan 20061 | -2.8 | -2.7 | -2.3 | -1.5 | -0.6 | n.a. |Structural balance2 (% of GDP) | SP Dec 20063 | -3.0 | -2.5 | -2.2 | -1.6 | -0.7 | 0.2 |COM Nov 20064 | -3.1 | -2.6 | -2.3 | -1.8 | n.a. | n.a. |SP Jan 2006 | -3.3 | -2.9 | -2.3 | -1.5 | -0.6 | n.a. |Government gross debt (% of GDP) | SP Dec 2006 | 66.6 | 64.6 | 63.6 | 62.6 | 60.7 | 58.0 |COM Nov 2006 | 66.6 | 64.7 | 63.9 | 63.3 | n.a. | n.a. |SP Jan 2006 | 65.8 | 66.0 | 65.6 | 64.6 | 62.8 | n.a. |Notes: |1 Commission services calculations on the basis of the information in the programme. |2 Cyclically-adjusted balance (as in the previous rows) excluding one-off and other temporary measures. |3 One-off and other temporary measures taken from the programme (0.5% of GDP in 2005 and 0.1% in 2006; 0% thereafter, all deficit-reducing). |4 One-off and other temporary measures taken from the Commission services’ autumn 2006 forecast (0.6% of GDP in 2005 and 0.2% in 2006; 0% thereafter, all deficit-reducing). |5 Based on estimated potential growth of 2.0%, 2.2%, 2.2% and 2.3% respectively in the period 2005-2008. |Source: |Stability programme (SP); Commission services’ autumn 2006 economic forecasts (COM); Commission services’ calculations |[1] OJ L 209, 2.8.1997, p. 1. Regulation as amended by Regulation (EC) No 1055/2005 (OJ L 174, 7.7.2005, p. 1). All the documents referred to in this text can be found at the following website:http://europa.eu.int/comm/economy_finance/about/activities/sgp/main_en.htm[2] Communication from the Commission to the Spring European Council, “Implementing the renewed Lisbon strategy for growth and jobs - A year of delivery” - COM(2006) 816, 12.12.2006.[3] Communication from the Commission to the Council and the European Parliament, “The long-term sustainability of public finances in the EU” - COM(2006) 574, 12.10.2006 - and European Commission, Directorate-General for Economic and Financial Affairs (2006), “The long-term sustainability of public finances in the European Union”, European Economy No 4/2006.[4] “Specifications on the implementation of the Stability and Growth Pact and guidelines on the format and content of stability and convergence programmes”, endorsed by the ECOFIN Council of 11 October 2005.[5] OJ L 209, 2.8.1997, p. 1. Regulation as amended by Regulation (EC) No 1055/2005 (OJ L 174, 7.7.2005, p. 1). The documents referred to in this text can be found at the following website:http://europa.eu.int/comm/economy_finance/about/activities/sgp/main_en.htm[6] The new Constitutional Bylaw on Budget Bills (LOLF), which has been implemented for the first time in 2006, aims at more transparency and efficiency of public expenditure management.[7] In particular, the data on collective consumption and short and long-term interest rates (for the years 2008 to 2010) are not provided.