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Council Regulation (EC) No 694/2008 of 8 July 2008 amending Regulation (EC) No 2866/98 as regards the conversion rate to the euro for Slovakia

EU Regulation No 694/2008 · Adopted 8 July 2008 · Extends to United Kingdom

Original text. legislation.gov.uk does not revise this item, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Council Regulation (EC) No 694/2008

of 8 July 2008

amending Regulation (EC) No 2866/98 as regards the conversion rate to the euro for Slovakia

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty establishing the European Community, and in particular Article 123(5) thereof,

Having regard to the proposal from the Commission,

Having regard to the opinion of the European Central Bankf1,

Whereas:

(1)

Council Regulation (EC) No 2866/98 of 31 December 1998 on the conversion rates between the euro and the currencies of the Member States adopting the eurof2 determines the conversion rates as from 1 January 1999.

(2)

According to Article 4 of the 2003 Act of Accession, Slovakia is a Member State with a derogation within the meaning of Article 122 of the Treaty.

(3)

Pursuant to Council Decision 2008/608/EC of 8 July 2008 in accordance with Article 122(2) of the Treaty on the adoption by Slovakia of the single currency on 1 January 2009f3, Slovakia fulfils the necessary conditions for the adoption of the single currency and the derogation in favour of Slovakia shall be abrogated with effect from 1 January 2009.

(4)

The introduction of the euro in Slovakia requires the adoption of the conversion rate between the euro and the Slovak koruna. This conversion rate shall be set at 30,1260 korunas per 1 euro, which corresponds to the current central rate of the koruna in the exchange rate mechanism (ERM II).

(5)

Regulation (EC) No 2866/98 should therefore be amended accordingly,

HAS ADOPTED THIS REGULATION:

Annotations to the whole text

Footnotes

f1

Opinion delivered on 3 July 2008 (not yet published in the Official Journal).

f2

OJ L 359, 31.12.1998, p. 1. Regulation as last amended by Regulation (EC) No 1135/2007 (OJ L 256, 2.10.2007, p. 2).

f3

See page 24 of this Official Journal.

Contents

  1. 1Article 1
  2. 2Article 2
  3. Signature

1

In Article 1 of Regulation (EC) No 2866/98, the following shall be inserted between the conversion rates applicable to the Slovenian tolar and the Finnish mark:

‘= 30,1260 Slovak korunas’.

2

This Regulation shall enter into force on 1 January 2009.

Signature

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

Done at Brussels, 8 July 2008.

For the Council

The President

C. Lagarde