ame procedure, also take
the other measures necessary for the rapid introduction of the ECU as
the single currency of those Member States.
5. If it is decided, according to the procedure set out in Article 109k(2),
to abrogate a derogation, the Council shall, acting with the unanimity
of the Member States without a derogation and the Member State
concerned, on a proposal from the Commission and after consulting
the ECB, adopt the rate at which the ECU shall be substituted for the
currency of the Member State concerned, and take the other measures
necessary for the introduction of the ECU as the single currency in the
Member State concerned.
ARTICLE 109m
1. Until the beginning of the third stage, each Member State shall treat
its exchange rate policy as a matter of common interest. In doing so,
Member States shall take account of the experience acquired in co-
operation within the framework of the European Monetary System
(EMS) and in developing the ECU, and shall respect existing powers in
this field.
2. From the beginning of the third stage and for as long as a member
State has a derogation, paragraph 1 shall apply by analogy to the
exchange rate policy of that Member State."
26) In Title II of Part Three, the title of Chapter 4 shall be replaced by
the following:
"TITLE VII
Common Commercial Policy"
27) Article 111 shall be repealed.
28) Article shall be replaced with the following:
"ARTICLE 113
1. The common commercial policy shall be based on uniform
principles, particularly in regard to changes in tariff rates, the
conclusion of tariff and trade agreements, the achievement of
uniformity in measures of liberalization, export policy and measures
to protect trade such as those to be taken in the event of dumping or
subsidies.
2. The Commission shall submit proposals to the Council for
implementing the common commercial policy.
3. Where agreements with one or more States or international
organizations need to be negotiated, the Commission shall make
recommendations to the Council, which shall authorize the
Commission to open the necessary negotiations.
The Commission shall conduct these negotiations in consultation with
a special committee appointed by the Council to assist the
Commission in this task and within the framework of such directives
as the Council may issue to it.
The relevant provision of Article 228 shall apply.
4. In exercising the powers conferred upon it by this Article, the
Council shall act