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Image header Agence Europe
Europe Daily Bulletin No. 8409
Contents Publication in full By article 27 / 49
GENERAL NEWS / (eu) eu/agriculture/vineyards

Greater leeway for restructuring vineyards

Brussels, 26/02/2003 (Agence Europe) - The European Commission recently adopted a decision relaxing the funding rules for restructuring and converting EU vineyards on a fairer basis. First of all, this would give vineyard owners more time to restructure in the event of some of the aid being paid up front. Member States will have the option of paying vineyard owners from their annual financial allocation for expenses as at 30 June of each year, which was not authorised in the past. The financial penalties applies when Member States do not restructure as far as foreseen will be reduced through the introduction of 5% leeway. A budget line of EUR 1.381 bn has been incorporated in the 2003 budget to cover the restructuring and conversion of vineyards.

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