EC specialists to meet on agrimonetary accord

The EC plans to introduce reforms in its agrimonetary policies which will mean abolishing monetary compensation starting Jan 1, 1993. The EC will implement a switchover system which will close any gaps between EC currencies to prevent a drop in farm incomes in the countries with stronger currencies. The new agreement provides that farmers who experience losses because of currency fluctuations will receive 75% of the increase in support price. The green rate will become the main mechanism for defending farmers against foreign exchange fluctuations.