§ Mr. JackTo ask the Minister of Agriculture, Fisheries and Food if he will make a statement on the current arrangements for the payment in euros of CAP farm subsidies for those member states which are not adopting the single currency. [64634]
§ Mr. RookerThe Agriculture Council held in Brussels on 14 and 15 December 1998 reached agreement on agrimonetary arrangements following the introduction of the Single Currency on 1 January 1999. As my right hon. Friend indicated in his answer of 26 October 1998, these arrangements include improved general provisions for those Member States not joining the Single Currency on 1 January 1999 to make CAP payments in euros. There122W are no detailed provisions; each Member State's proposed payment scheme would be subject to the European Commission's agreement.
My right hon. Friend announced on 12 November 1998 his intention to make available an option for payments of market support measures, such as export refunds and intervention buying, in euros by autumn 2000. No other Member State outside the single currency has so far announced its intention to make this option available.
My officials are now in the process of working out the detailed provisions for a euro payment scheme, which we will then discuss with the Commission.