26/10/2009 (Agence Europe) - In conclusions adopted without discussion, on Monday 26 October, the Council notes the European Commission's recommendation concerning the conclusion of an economic cooperation agreement between Portugal and the Republic of São Tomé e Principe in order to promote the country's macro-economic and financial stability. Since introduction of the euro, the Community is alone competent for monetary and exchange issues in the eurozone, the Commission recalled, anxious to safeguard Community competence. In the case in hand, the agreement in July 2009 between Portugal and São Tomé e Principle did not concern this kind of question and therefore did not come under the Commission's exclusive competence. In its conclusions, the Council therefore takes care to point out that: “Draft agreements negotiated by euro-area member states with third countries presenting elements with a potential relevance for monetary and exchange rate matters should therefore be examined by the Commission with a view to preserving the competences of the Community”. (A.B./transl.jl)