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Eighth financial report on the European Agricultural Guidance and Guarantee Fund year 1978. Guarantee Section. COM (79) 596 final, 6 November 1979

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COMMISSION OF THE EUROPEAN COMMUNITIES EIGHTH FINANCIAL REPORT on the COM(79) 596 Brussels, 6 November 1979 EUROPEAN AGRICULTURAL GUIDANCE AND GUARANTEE FUND YEAR 1978 (presented by the Commission to the Council) GUARANTEE SECTION Artic 1 e 10 of Regulation CEEC) No 729/70 on the financing of the common agricultural policy provides that "before 1 July of each year, the Commission shall submit to the Council and to the European Parliament a ~inancial re,ort on the administration of the Fund during the preceding ~inancial yeAr and, in partir.ular, on the state of its resources and the natu~e of its expenditure and the conditions under which Community financ- iPg has been effected". The Commission has accordingly submitted seven annual reports since 1971, 11hen th: d:finitive financing system came into effect. This ~eport covers the activities of the Guarantee Section of EAGGF for the 1978 financial year. Th? Gttarantee Section finances expenditure resulting from the common polir.y on agricultural markets and prices. Under Articles 2 and 3 of Re"ttln~ion (EEC) No 729/70 this comprises refunds on exports to non-member r.otm"':ries to cover the difference between Community prices and world oric0s, and various intervention measures designed to stabilize agricul- tu~nl markets (storage, withdrawal from the market, price compensation, guidance premiums). N.B. This draft of the Report was completed on 2 June 1979 - I - SUMMARY OF THE EIGHTH FINANCIAL REPORT • a • • = • = = • • = a • = a = = = = ~AGGF Guarantee section This report covers the activities and financial operations of'the EAGGF Guarantee Section and the Community financing of food aid. Title I: Developments in the Community financing of agricultural markets and prices 1. Certain changes made to market regulations had financial implications for the Guarantee Section. The principal changes were the introduction, in connection with the co-responsibility Levy, of a schem

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