Friday, 13 June 2008

EC accession of Pt and Spain...

"One substantial budgetary repercussion has already been seen with the adoption of the controversial Integrated Mediterranean Program[38]In order to appease Greek concerns over the entry of Spain and Portugal, the Community agreed to an aid package which included $4.4 billion over seven years for Greek, French, and Italian farmers who were threatened by competition from Spain and Portugal. Of that total, Greece was to receive $1.4 billion and agreed in return not to veto the accession. Thus, even before Spain and Portugal's accession in 1986, their entry was costing the Community.

Added products from Spain and Portugal also mean a further drain on the Community budget. Spain's excess of olive oil alone doubles the cost of supporting olive growers[40] Spain and Portugal's addition to the existing wine, fruit, and vegetable surpluses (especially wine) means added storage and destruction costs as well as added price support and export subsidy costs."

Jensen, Christian Henri
Source:Brigham Young University Law Review; 1990, Issue 4

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