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european agricultural guidance and guarantee fund meaning

  "european agricultural guidance and guarantee fund" in a sentence
  • [Economics]
    = EAGGF

    A fund set up under the Common Agricultural Policy to buy produce from farmers in EU member states at pre-arranged minimum prices and to sell when prices have risen. It also provides money for agricultural improvement in the European Union. Criticism of the uses of the fund to create the 'butter mountain' and 'wine lake' of the 1970s led to the imposition of production quotas in the 1980s.

Examples

  1. An employee of the EU agricultural directorate, he headed the financial administration of the European Agricultural Guidance and Guarantee Fund.
  2. From 2003 to 2004 the Aggstein Castle Restoration project was set up with funding from the federal state of Lower Austria and the European Agricultural Guidance and Guarantee Fund ( EAGGF ) totaling � 49, 630 . 00.
  3. The EAGF and the European Agricultural Fund for Rural Development ( EAFRD ), which finances the rural development programmes of the Member States, were set up on 1 January 2007 following Council Regulation ( EC ) No 1290 / 2005 of 21 June 2005 on the financing of the CAP . They both replaced the European Agricultural Guidance and Guarantee Fund ( EAGGF ), which had been set up by Regulation No 25 of 1962 on the financing of the CAP ( as amended by Regulation ( EEC ) No 728 / 70.

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