National aid granted in compensation for losses of agricultural income caused by monetary movements

Following a lengthy discussion during which references were also made to the ‘Ioannina Compromise’, the Council finally adopted by a qualified majority - with the United Kingdom delegation abstaining and the Italian voting against - a Regulation establishing the possibility of national aid being granted in compensation for losses of agricultural income caused by monetary movements in other Member States. The text follows adoption by the Agriculture Council on 19 to 22 June 1995 of a statement by the Council and the Commission, as an integral part of the overall compromise, on the possibility of introducing such aid, which is flat-rate aid reducing over three years.