22.03.2010 - Although euro area Member States share a single currency, interpretations of what its legal tender status means may still differ across countries. The purpose of this Commission recommendation is to define common guiding principles that have concrete implications in the daily lives of European citizens.
Since the introduction of the euro, the status of legal tender of euro banknotes and coins has been a European matter. However, beyond the basic principles set in the Treaty and in the Regulations, the various pre-euro national principles continue de facto to shape the concrete effects of the legal tender of the euro in the participating Member States.
>> Press release IP10/331. Commission adopts a recommendation on the scope and effects of legal tender of euro banknotes and coins
>> Official Journal L83 of 30 March 2010. p 70. Commission recommendation on the scope and effects of legal tender of euro banknotes and coins
>> Memo 10/92. Frequently asked questions. Legal tender of the euro: Q&A on the new Commission recommendation
>> Report. Euro legal tender expert group (ELTEG). Definition, scope and effects of legal tender of euro banknotes and coins
The sometimes very diverse situations across Member States may be a source of confusion for the European citizen willing to pay with euro cash. This may lead to questions such as:
Therefore, the purpose of this Commission recommendation is to give citizens guidelines on such issues with direct implications on their daily lives. These guidelines are based on 10 guiding principles:
The recommendation is the follow-up of the work carried out in 2009 by an ad-hoc group of experts co-chaired by the Commission and the European Central Bank, which gathered representatives of Ministries of Finance and National Central Banks of all euro-area Member States.