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AGRI-MONETARY SYSTEM

Statistics Directorate    
Definition:
Until the introduction of the single currency on 1 January 1999, intervention support prices and payments under the Common Agricultural Policy (CAP) were set in ECUs and then converted into each country's currency using special conversion rates called "green rates". These rates were usually different from those established under the European Monetary System (EMS) and from those of the EU member states which are not members of the EMS.

Source Publication:
Agricultural Policies in OECD Countries: Monitoring and Evaluation, OECD, 2002, Glossary of Agricultural Policy Terms.

Statistical Theme: Agriculture and fisheries statistics

Created on Wednesday, August 07, 2002