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ISSN 1725-2555 Official Journal L 118 of the European Union Volume 53 English edition Legislation 12 May 2010 Contents II Non-legislative acts REGULATIONS ★ Council Regulation (EU) No 407/2010 of 11 May 2010 establishing a European financial stabilisation mechanism . 1 ★ Council Regulation (EU) No 408/2010 of 11 May 2010 amending Council Regulation (EC) No 194/2008 renewing and strengthening the restrictive measures in respect of Burma/ Myanmar . 5 ★ Commission Regulation (EU) No 409/2010 of 11 May 2010 entering a name in the register of protected designations of origin and protected geographical indications (Castaña de Galicia (PGI)) . 6 ★ Commission Regulation (EU) No 410/2010 of 11 May 2010 entering a name in the register of protected designations of origin and protected geographical indications (Εξαιρετικό Παρθένο Ελαιόλαδο Σέλινο Κρήτης (Exeretiko partheno eleolado Selino Kritis) (PDO)) . 8 ★ Commission Regulation (EU) No 411/2010 of 10 May 2010 amending Council Regulation (EC) No 194/2008 renewing and strengthening the restrictive measures in respect of Burma/ Myanmar . 10 Commission Regulation (EU) No 412/2010 of 11 May 2010 establishing the standard import values for determining the entry price of certain fruit and vegetables . 43 (Continued overleaf) Price: EUR 4 Acts whose titles are printed in light type are those relating to day-to-day management of agricultural matters, and are generally valid for a limited period. The titles of all other acts are printed in bold type and preceded by an asterisk. EN Contents (continued) DECISIONS 2010/269/EU: ★ Commission Decision of 9 March 2010 concerning the aid awarded for Farm Dairy Flevoland (C 45/08) (notified under document C(2010) 1240) . 45 2010/270/EU: ★ Commission Decision of 6 May 2010 amending Parts 1 and 2 of Annex E to Council Directive 92/65/EEC as regards the model health certificates for animals from holdings and for bees and bumble bees (notified under document C(2010) 2624) ( 1 ) . 56 2010/271/EU: ★ Commission Decision of 11 May 2010 amending Annex II to Decision 2008/185/EC as regards the inclusion of Ireland in the list of regions where an approved national control programme for Aujeszky’s disease is in place (notified under document C(2010) 2983) ( 1 ) . 63 GUIDELINES 2010/272/EU: ★ Guideline of the European Central Bank of 21 April 2010 on TARGET2-Securities (ECB/2010/2) . 65 IV Acts adopted before 1 December 2009 under the EC Treaty, the EU Treaty and the Euratom Treaty 2010/273/EC: ★ Commission Decision of 24 March 2009 on State aid C 47/05 (ex NN 86/05) implemented by Greece for Hellenic Vehicle Industry SA (ELVO) (notified under document C(2009) 1476) ( 1 ) . 81 EN ( 1 ) Text with EEA relevance 12.5.2010 EN Official Journal of the European Union L 118/1 II (Non-legislative acts) REGULATIONS COUNCIL REGULATION (EU) No 407/2010 of 11 May 2010 establishing a European financial stabilisation mechanism THE COUNCIL OF THE EUROPEAN UNION, a particular Member State. Its activation will be in the context of a joint EU/International Monetary Fund (IMF) support. Having regard to the Treaty on the Functioning of the European Union (TFEU), and in particular Article 122(2) thereof, (6) Given their particular financial implications, the decisions to grant Union financial assistance pursuant to this Regu­ lation require the exercise of implementing powers, Having regard to the proposal from the European Commission, which should be conferred on the Council. Whereas: (7) Strong economic policy conditions should be imposed in case of activation of this mechanism with a view to preserving the sustainability of the public finances of the beneficiary Member State and restoring its capacity (1) Article 122(2) of the Treaty foresees the possibility of to finance itself on the financial markets. granting Union financial assistance to a Member State in difficulties or seriously threatened with severe difficulties caused by exceptional occurrences beyond its (8) The Commission should regularly review whether the control. exceptional circumstances threatening the financial stability of the European Union as a whole still exist. (2) Such difficulties may be caused by a serious deterioration in the international economic and financial environment. (9) The existing facility providing medium-term financial assistance for non-euro-area Member States, as estab­ lished by Council Regulation (EC) No 332/2002 ( 1 ), (3) The unprecedented global financial crisis and economic should remain in place, downturn that have hit the world over the last two years have seriously damaged economic growth and financial stability and provoked a strong deterioration in the HAS ADOPTED THIS REGULATION: deficit and debt positions of the Member States. Article 1 (4) The deepening of the financial crisis has led to a severe Aim and scope deterioration of the borrowing conditions of several With a view to preserving the financial stability of the European Member States beyond what can be explained by Union, this Regulation establishes the conditions and economic fundamentals. At this point, this situation, if procedures under which Union financial assistance may be not addressed as a matter of urgency, could present a granted to a Member State which is experiencing, or is serious threat to the financial stability of the seriously threatened with, a severe economic or financial European Union as a whole. disturbance caused by exceptional occurrences beyond its control, taking into account the possible application of the existing facility providing medium-term financial assistance for (5) In order to address this exceptional situation beyond the non-euro-area Member States’ balances of payments, as estab­ control of the Member States, it appears necessary to put lished by Regulation (EC) No 332/2002. in place immediately a Union stabilisation mechanism to preserve financial stability in the European Union. Such a ( 1 ) Council Regulation (EC) No 332/2002 of 18 February 2002 estab­ mechanism should allow the Union to respond in a coor­ lishing a facility providing medium-term financial assistance for dinated, rapid and effective manner to acute difficulties in Member States’ balances of payments (OJ L 53, 23.2.2002, p. 1). L 118/2 EN Official Journal of the European Union 12.5.2010 Article 2 (a) the amount, the fee for the availability of the credit line, the pricing formula applicable for the release of funds and the Form of the Union financial assistance availability period of the Union financial assistance and the 1. Union financial assistance for the purposes of this Regu­ other detailed rules needed for the implementation of lation shall take the form of a loan or of a credit line granted to the assistance; the Member State concerned. (b) the general economic policy conditions which are attached To this end, in accordance with a Council decision pursuant to to the Union financial assistance with a view to re-estab­ Article 3, the Commission shall be empowered on behalf of the lishing a sound economic or financial situation in the bene­ European Union to contract borrowings on the capital markets ficiary Member State; these conditions will be defined by the or with financial institutions. Commission, in consultation with the ECB; and 2. The outstanding amount of loans or credit lines to be granted to Member States under this Regulation shall be (c) an approval of the adjustment programme prepared by the limited to the margin available under the own resources beneficiary Member State to meet the economic conditions ceiling for payment appropriations. attached to the Union financial assistance. Article 3 5. The Commission and the beneficiary Member State shall Procedure conclude a Memorandum of Understanding detailing the general economic policy conditions laid down by the Council. The 1. The Member State seeking Union financial assistance shall Commission shall communicate the Memorandum of Under­ discuss with the Commission, in liaison with the European standing to the European Parliament and to the Council. Central Bank (ECB), an assessment of its financial needs and submit a draft economic and financial adjustment programme to the Commission and the Economic and Financial Committee. 6. The Commission shall re-examine, in consultation with the ECB, the general economic policy conditions referred to 2. Union financial assistance shall be granted by a decision in paragraphs 3(b) and 4(b) at least every six months and adopted by the Council, acting by a qualified majority on a discuss with the beneficiary Member State the changes that proposal from the Commission. may be needed to its adjustment programme. 3. The decision to grant a loan shall contain: 7. The Council, acting by a qualified majority on a proposal from the Commission, shall decide on any adjustments to be made to the initial general economic policy conditions and shall approve the revised adjustment programme as prepared by the (a) the amount, the average maturity, the pricing formula, the beneficiary Member State. maximum number of instalments, the availability period of the Union financial assistance and the other detailed rules needed for the implementation of the assistance; 8. If a financing outside the Union subject to economic policy conditions is envisaged, notably from the IMF, the (b) the general economic policy conditions which are attached Member State concerned shall first consult the Commission. to the Union financial assistance with a view to re-estab­ The Commission shall examine the possibilities available lishing a sound economic or financial situation in the bene­ under the Union financial assistance facility and the compati­ ficiary Member State and to restoring its capacity to finance bility of the envisaged economic policy conditions with the itself on the financial markets; these conditions will be commitments taken by the Member State concerned for the defined by the Commission, in consultation with the ECB; implementation of the Council recommendations and Council and decisions adopted on the basis of Article 121, Article 126 and Article 136 of the TFEU.
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