3.7.9 Official Journal of the European Communities No L 170/51 COMMISSION DECISION of 28 June 1990 ‘ renewing and amending Decision 85/594/EEC authorizing the Hellenic Republic to take certain protective measures under Article 108 (3) of the EEC Treaty (Only- the Greek text is authentic) (90/348/EEC) THE .COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty” establishing the European Economic Community; and in particular Article 108 (3) thereof, Whereas, by Decision 85/594/EEC (®), the .Commission on a temporary basis authorized the Hellenic Republic to take certain protective measures in support of a programme of economic stabilization implemented by the Greek Government from the end of 1985 in order to deal with serious balance of payments difficulties and to restore an acceptable -situation ; Whereas since then, and in line with the improvement in the external equilibrium of Greece, several of  these protective -measures have been- revoked or amended in accordance with the.provisions of Decision 85/594/EEC ; whereas this Decision was amended by Decisions 86/614/EEC (), 87/152/EEC (), 88/438/EEC (¥, 88/600/EEC () and lastly renewed and amended by Decision 89/644/EEC (9 ; ' Whereas the Hellenic Republic has claimed that internal and external macroeconomic imbalances have grown; whereas it has adopted a stabilization and economic recovery programme ; whereas in support of this effort it has requested an extension of certain protective measures in respect of the movement of capital and transfers relating to tourist expenditure of Greek residents abroad, in accordance with the provisions of Article 9 (5) of Decision 85/594/EEC ; whereas, nevertheless, the Greek authorities . have: relaxed the restrictions originally authorized in this area ; whereas they intend to continue to do so and in line with the results achieved in the recovery -of the balance of payments;- Whereas it emerges-from the examination of the overall economic situation of ©~ Greece undertaken by the Commission that the external position of Greece deteri- orated in: 1989 ; whereas this deterioration was more pronounced during the first- four months of 1990;. whereas the authorities have taken a series of stabilization () OJ No L 373, 31. 12. 1985, p. 9. () OJ No L 357, 18. 12. 1986, p. 28. () OJ No L 63, 6. 3. 1987, p. 38. () OJ No L 218, 9. 8. 1988, p. 19. OJ No L 325, 29. 11. 1988, p. S8. 8 OJ No L 372, 21. 12. 1989, p. 39. and structural measures in order-to reduce the internal and external imbalances ; whereas they intend-to continue their effort in this direction ; whereas until the situation in the balance of payments is redressed the retention of - certain protective measures in this area is justified ; Whereas there are grounds for renewing and amending " the authorization to apply these protective measures ; . whereas, however, the evolution of the economic situation in Greece should be monitored attentively so that the measures authorized may possibly - be amended or repealed if the conditions justifying them were no longer to obtain ; Whereas for the sake of transparency it is appropriate to present in a single text the complete enacting terms of Decision 85/594/EEC: as last amended by this Decision, HAS ADOPTED THIS DECISION: Article 1 The enacting terms of Decision 85/594/EEC are hereby replaced by the following : Article 1 1.. Greece is hereby - authorized, temporarily and within the limits and conditions laid down. in the Annex to this Decision, to prohibit or to make subject to prior authorization the.conclusion or execution of transactions and - transfers relating to  capital movements - liberalized in accordance with the provisions of the Council Directive in force. for-the . implementation of. Article 67 of the Treaty (*). 2.  Greece is hereby temporarily authorized-to limit transfers relating to the tourist expenditure of Greek ‘residents to ECU 1 000 per person and per journey. In . addition to this basic allowance, residents shall, . however, be allowed to use payment or credit cards abroad for the purposes of-holiday expenses to the amount of ECU 300 per person per year. From. 1 September 1990 the basis allowance relating to tourist expenditure of Greek residents shall be raised to ECU 1200 per person per journey. 3.  Without prejudice to the provisions of Article 2, the authorizations contained in this Article shall be valid until 31 December 1990.