16.1.2001

While welcoming the commitment by the European Central Bank (ECB) to establishing a cooperative relationship with the European Anti-Fraud Office (OLAF), Parliament regrets the ECB's decision to prevent OLAF from carrying out internal investigations and its payment of an extraordinary bonus of 38 % to some of its own employees, which hardly set an example of wage moderation.

- EU Bulletin 1/2 - 2001, point 1.3.18.

19.1.2001

The Council adopts the third report by the Economic and Financial Committee on the updating of statistics on economic and monetary union.

References: Council conclusions on the statistical requirements for economic and monetary union: Bull. 6-2000, point 1.3.11
Action plan on the statistical requirements for the operation of economic and monetary union - presentation by the Commission: Bull. 9-2000, point 1.10.7

This report, compiled by the Economic and Financial Committee in accordance with the action plan drawn up in September 2000, covers quarterly national accounts, quarterly statistics on public finance, labour market statistics, short-term statistics, external trade statistics and the publication of statistical data. It also deals with the balance of payments, statistics on services and structural performance indicators.

- EU Bulletin 1/2 - 2001, point 1.3.23. +1.3.27.

7.2.2001

The Commission adopts a communication (document COM(2001) 82) on strengthening economic policy coordination within the euro area.

With a view to strengthening the economic policy coordination advocated by the Helsinki and Lisbon European Councils, the Commission makes various proposals designed to achieve both a finer and a more readily understandable overall view of the economic situation in the euro area and to reach in a more predictable manner an agreement on the appropriate policy responses. It also suggests more effective coordination instruments, notably a strengthening of transparency, a reform of the functioning of the Eurogroup and the establishment of an institutionalised dialogue between the different actors (ECB, Eurogroup, Commission).

- EU Bulletin 1/2 - 2001, point 1.3.19.

12.2.2001

Stressing the particular importance of training for vulnerable groups of the population in order to familiarise them with the euro, the Council welcomes the initiatives already taken in this connection by the Member States, the European Central Bank and the Commission. It notes in particular the preparation of euro tokens by the Commission, in collaboration with the authorities and representatives of the groups concerned, and advocates that such initiatives should extend to real euro coins.

- EU Bulletin 1/2 - 2001, point 1.3.21.

12.2.2001

The Council adopts conclusions on adapting the conditions for loans of euro coins and euro tokens to relevant industries.

References: Council conclusions on the release of euro coin samples to relevant industries: Bull. 6-2000, point 1.3.7; Council conclusions on euro bank notes and coins: Bull. 12-2000, point 1.3.3

Further to the Council conclusions of 14 December 2000 regarding the adjustment of coin-operated machines, the Ministers agree on the adaptation of the conditions for loans of euro notes and/or coins to the coin-operated industry. Under the agreement, Member States could reduce to specified levels the financial guarantees applicable to such loans as from 1 April and 1 July 2001 respectively.

- EU Bulletin 1/2 - 2001, point 1.3.22.

15.2.2001

The Parliament adopts a resolution on the impact of liberalisation and the economic reform process on economic growth in the European Union.

Parliament notes in particular that the countries which had the most deregulation and labour market flexibility were also the ones that had recorded significant falls in unemployment and above-average growth. It sought the elimination of barriers to the development of synergies between businesses, training centres, schools, universities and research centres, together with a greater role for businesses in vocational training and apprenticeship schemes. It also stresses the need to continue the process of liberalisation in the gas, electricity, postal services and financial services sectors and in the transport sector, including rail transport (while ensuring that current safety levels were maintained), and the need to introduce labour market reforms that promots mobility and makes it worthwhile for the unemployed to take up job offers.

- EU Bulletin 1/2 - 2001, point 1.3.3.

28.2.2001

The Economic and Social Committee adopts an own-initiative opinion on the broad economic policy guidelines for 2000.

References: Conclusions of the Lisbon European Council: Conclusions of the Feira European Council:
Commission recommendation: COM(2000) 214;

Parliament resolution: Bull. 5-2000, point 1.3.1
Council recommendation: OJ L 210, 21.8.2000;

Although the Committee subscribes to the key challenges set out, it has doubts regarding the scope of the economic policy recommendations if they were to achieve the strategic goal for the European Union set by the European Council of Lisboa and considers that a new strategy is needed, not simply the regurgitation of recommendations from earlier years.

It also feels that a greater role should be played by monetary policy in providing sustainable and stability-oriented growth and stresses the importance as regards the credibility of the single currency for the Union to speak with one voice.

It calls for the continuation of the current policy of budget consolidation, with public expenditure being channelled into investment in infrastructure and education.

On wage policy, it stresses that productivity growth would have a positive effect on stability and employment.

Agreeing with the recommendations for the development of a knowledge-based economy, the Committee looks forward with interest to the strategy for dismantling barriers to trade in services and welcomes the plan for integrating the financial markets by 2005.

Lastly, it is pleased that the guidelines addressed the need for more sustainable development in the Union

- EU Bulletin 1/2 - 2001, point 1.3.4.

28.2.2001

The Economic and Social Committee adopts an own-initiative opinion on structural indicators.

References:
Conclusions of the Lisbon European Council: Bull. 3-2000, Conclusions of the Feira European Council: Bull. 6-2000,
Commission communication: COM(2000) 594; Bull. 9-2000, Council conclusions: Bull. 10-2000

Although it regrets the lack of an environmental indicator, the Committee welcomes the indicators and stresses the importance of developing a reliable statistical information system. It also recommends that, as far as possible, the indicators be clearly defined and based on a single statistical information system. Among others,  it also takes the view that this statistical system should be broad-based and take account of structural differences between Member States.

- EU Bulletin 1/2 - 2001, point 1.3.1.

28.2.2001

The Economic and Social Committee adopts an own-initiative opinion on the coordination of economic policies as a consequence of economic and monetary union.

References: Economic and Social Committee own-initiative opinion 'Europe as an economic entity - a political challenge': OJ C 284, 14.9.1998; Economic and Social Committee own-initiative opinion 'An assessment of the introduction of the single currency': OJ C 117, 26.4.2000;

Restating the need to step up macroeconomic policy coordination in introducing the euro, the Committee advocated a number of practical guidelines such as the importance of a joint assessment regarding specific measures to be taken, the choice of which should be left to the Member States, and the need to consider the effects of coordination on the economic cycle itself.

- EU Bulletin 1/2 - 2001, point 1.3.20.

23./24.3.2001

European Council chaired by Mr Persson in Stockholm

Among others, the European Council

> endorses the views set out in the key issues paper on the broad economic policy guidelines,

> welcomes the report on the contributions of public finances to growth and employment.

> invites the Ecofin Council and the Commission to take due account of the Stockholm European Council conclusions when preparing the draft for the 2001 broad economic policy guidelines and

> approves a resolution on more effective securities market regulation; (annex 1) > http://europa.eu/abc/doc/off/bull/en/200103/p000044.htm

- EU Bulletin 3 - 2001, point I.2. 1. + I.25.

3.4.2001

The Commission adopts a communication

(document COM(2001) 190)

> http://europa.eu/abc/doc/off/bull/en/200104/rapporten.pdf

on the preparations for the introduction of euro notes and coins.

Directed to the Council, Parliament, the Economic and Social Committee, the Committee of the Regions and the European Central Bank, the Commission takes stock of the state of preparations of the different economic agents and pinpoints examples of good practice likely to facilitate smooth transition to the new currency.

As regards the level of preparedness, progress is patchy. The Commission welcomes the very active policy pursued by the banking community in raising awareness among economic operators and encourages the public administrations to adopt a more proactive approach aimed at imparting a knock-on effect to the economy as a whole. On the other hand, businesses and consumers alike remain insufficiently prepared for the changeover, and the Commission calls for information campaigns geared to those two target groups to be continued and stepped up in line with the recommendation it adopted on 11 October 2000. (Commission recommendation on measures to facilitate the preparation of economic agents for the changeover to the euro: Bull. 10-2000, point 1.3.2)

The Commission goes on to identify examples of useful measures that can be taken both before January 2002, such as distributing among small traders tools for calculating change or organising operations to simulate euro payments, and during the period of dual circulation, such as keeping national notes and coins received at checkouts separate or postponing the starting date of the winter sales.

- EU Bulletin 4 - 2001, point 1.3.3.

25.4.2001

The Commission adopts the broad guidelines of the economic policies for 2001. (document COM(2001) 224)

In this recommendation, drawn up in accordance with Article 99(2) of the EC Treaty, the Commission sets out the objectives and criteria which should guide the European Union and the Member States in framing their economic policies for 2001.

In referring to the conclusions of the Stockholm European Council and in order to tackle the many challenges ahead, such as the need to support economic growth and job creation in the short term, to consolidate the basis for medium-term growth, and to improve the capacity to absorb long-term structural changes and above all to cope with the impact of population ageing, the Commission is anxious to set in place a coherent and comprehensive economic policy strategy based on the following priorities: implementing growth- and stability-oriented macroeconomic policies; improving the quality and sustainability of public finances; continuing to implement broadly based economic reforms on labour, goods and capital markets so as to make them operate more efficiently and boost productivity; encouraging entrepreneurship; fostering the knowledge-based economy; and integrating environmental concerns into economic policy in order to promote sustainable development. The recommendation also comprises country-specific economic policy guidelines.

- EU Bulletin 4 - 2001, point 1.3.2.

28.5.2001

The Council adopts provisions relating to the protection of the euro against counterfeiting

> Council Framework Decision 2001/413/JHA on combating fraud and counterfeiting of non-cash means of payment.(Commission proposal: OJ C 376 E, 28.12.1999; COM(1999) 438; Bull. 9-1999, point 1.5.4; Parliament opinion: Bull. 7/8-2000, point 1.4.15)

The aim of the framework decision is to ensure both that all fraud involving non-cash means of payment is recognised as a criminal offence punishable by effective sanctions in all the Member States and that mechanisms are put in place for cooperation between the Member States and between public and private departments or agencies to prosecute these offences efficiently.

OJ L 149, 2.6.2001

> Council decision on the protection of the euro against counterfeiting. (Initiative of France: OJ C 75, 7.3.2001; endorsed by Parliament on 3 May and subject to technical amendments)

Agreed by the Council at its meeting of 28 and 29 May, this project aims to supplement and strengthen the measures on protecting the euro by means of provisions to ensure close cooperation between the competent authorities of the Member States, the national central banks, Europol and Eurojust.

- EU Bulletin 5 - 2001, point 1.3.6.+ 1.4.15.+ 1.4.16.

15./16.6.2001

European Council chaired by Mr Persson inGöteborg

The European Council welcomes the considerable strides forward made by the EU economy and the broad economic policy guidelines, and recommends their adoption by the Council (-> point 1.3.3).

OJ L 179, 2.7.2001

It confirms the Union's determination to implement the economic strategy set out in the guidelines and to continue to apply a growth- and stability-oriented macroeconomic policy. It also voices its support for the modernisation of the European economy and the rapid implementation of structural reforms (-> point I.18).

- EU Bulletin 6 - 2001, point 1.3.1.

27.6.2001

In its communication, the Commission reviews Member States' budgetary performance in 2000 and assesses the short- and medium-term prospects.

- EU Bulletin 6 - 2001, point 1.3.2.

28.6.2001

The Council adopts two regulations on the protection of the euro.

The purpose of the first regulation is to lay down the necessary measures with a view to uttering euro notes and coins in such a manner as to protect them against counterfeiting. Regulation (EC) No 1338/2001 is accompanied by Regulation (EC) No 1339/2001, which is designed to ensure that the euro enjoys the same level of protection in those Member States which have not adopted it.
 (-> point 1.7.10).

References: Commission proposals: OJ C 337 E, 28.11.2000; COM(2000) 492; Bull. 7/8-2000, point 1.7.13
European Central Bank opinion: OJ C 19, 20.1.2001
Parliament opinion: Bull. 5-2001, point 1.7.13

- EU Bulletin 6 - 2001, point 1.3.4. + 1.7.10.

OJ L 181, 4.7.2001

4.7.2001

The Parliament adopts a resolution on means to assist economic actors in switching to the euro.

Reference: Commission recommendation on measures to facilitate the preparation of economic operators for the changeover to the euro: OJ C 303, 24.10.2000; Bull. 10-2000, point 1.3.2)

Parliament emphasises the importance of the information campaigns on the euro targeted at 'sensitive' sections of the public, and at schools and businesses, and put forward some practical recommendations in this respect.

- EU Bulletin 7/8 - 2001, point 1.3.1.

4.7.2001

The Parliament adopts a resolution on the 2000 annual report of the European Central Bank.

Parliament welcomes the monetary stability achieved by the European Central Bank (ECB) in 2000 despite surges in oil and commodity prices, high volatility on foreign exchange markets and increased tensions on financial markets generally. It reiterates its request for the minutes of the ECB Governing Council to be published, and proposes that the Governing Council vote on monetary measures at the end of each meeting and that the results of the voting be published, but not the names of the voters.

- EU Bulletin 7/8 - 2001, point 1.3.2.

4.7.2001

The Parliament endorses a proposal for a Council regulation which shall amend a regulation concerning the application of minimum reserves by the European Central Bank (Council Regulation (EC) No 2531/98).

Reference is a recommendation of the European Central Bank;

OJ C 89, 20.3.2001

- EU Bulletin 7/8 - 2001, point 1.3.3.

6.9.2001

The EP endorses a proposal for a Council regulation establishing a facility providing medium-term financial assistance for Member States' balances of payments.

References: Regulation to be repealed: Council Regulation (EEC) No 1969/88 establishing a single facility providing medium-term financial assistance for Member States' balances of payments: OJ L 178, 8.7.1988;
Commission report reviewing the single facility providing medium-term financial assistance for Member States' balances of payments: COM(1999) 628; Bull. 11-1999, point 1.3.6
Council conclusions on the single facility: Bull. 12-2000, point 1.10.6
Commission proposal: OJ C 180 E, 26.6.2001; COM(2001) 113; Bull. 3-2001, point 1.3.10
European Central Bank opinion: OJ C 151, 22.5.2001

The proposal was subject to amendments relating in particular to the establishment of an appropriate budgetary mechanism to protect the Community budget from a risk of default, and to the taking into account of forthcoming enlargements of the European Union.

- EU Bulletin 9 - 2001, point 1.3.2.

12.9.2001

The Economic and Social Committee adopts an additional opinion as to the state of preparedness for the introduction of the euro to highlight the main gaps and the necessary remedial action.

Reference: Economic and Social Committee opinion on the Commission communication 'Practical aspects of the euro: state of play and tasks ahead': OJ C 155, 29.5.2001; Bull. 3-2001, point 1.3.9

The Committee recommends that television campaigns should be launched in the immediate run-up to the changeover. To reduce the problems of availability of euro notes and coins facing the commercial sector, compounded by the European Central Bank's opposition to the early distribution of banknotes, the Committee expresses the view that action should be taken at national level in order to strike a balance between these two requirements, and that payment cards should provide the best solution in this regard. Finally, the Committee points out the risk of fraud and forgery of metal coins and stresses the importance of ensuring that the public has complete confidence in its new currency.

- EU Bulletin 9 - 2001, point 1.3.1.

4.10.2001

The EP adopts a resolution on the Commission communication to the Council and Parliament 'The contribution of public finances to growth and employment: improving quality and sustainability'.

References:  Commission communication: COM(2000) 846; Bull. 12-2000, point 1.3.2

The Parliament approves the Commission communication, which acknowledges the part played by public finances and their contribution to promoting growth and employment. It calls on the Commission to create a 'code of conduct' to guide national governments when they design tax cuts and to intensify its efforts, in cooperation with national finance ministers, to reach a common understanding of the responsiveness of tax revenues and public spending to variations in each economy's business cycle.

- EU Bulletin 10 - 2001, point 1.3.1.

4.10.2001

The EP adopts a resolution on the Stability and Growth Pact and on the outcome of the informal Ecofin meeting of 22-23 September 2001 in Liège.

References: Conclusions of the Dublin European Council, point I.3
European Council resolution on the Stability and Growth Pact: OJ C 236, 2.8.1997; Bull. 6-1997, Annex I, point I.27
Council Regulation (EC) No 1466/97 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies: OJ L 209, 2.8.1997; point 1.3.17

Recalling that the Stability and Growth Pact is aimed at strengthening the budgetary situation on a medium-term basis and has pioneered budgetary coordination among Member States, Parliament asks the Council to reiterate its commitment to maintaining the Pact in its present form and to continue fully to implement its principles.

- EU Bulletin 10 - 2001, point 1.3.3.

4.10.2001

The EP adopts a resolution on the Commission communication on strengthening economic policy coordination within the euro area.

Reference: Commission communication: COM(2001) 82; Bull. 1/2-2001, point 1.3.19

Parliament warmly welcomes the Commission communication and agrees with its diagnosis regarding the need to strengthen economic policy coordination among the Member States in the euro area.

- EU Bulletin 10 - 2001, point 1.3.4.

10.10.2001

The Commission adopts a communication (COM(2001) 561) to the Council (for presentation to the European Council) and to Parliament, to the Economic and Social Committee, to the Committee of the Regions and to the European Central Bank,  reporting on the preparations for the introduction of euro notes and coins.

References: Commission recommendation on measures to facilitate the preparation of economic agents for the changeover to the euro; point 1.3.2
Commission communication on the preparations for the introduction of euro notes and coins (first report): COM(2001) 190; point 1.3.3

This report, which was drawn up for the informal European Council held on 19 October in Gent, sets out to describe the state of play on preparations, to look closely at a number of major operations and to identify best practices for ensuring a trouble-free changeover to the euro.

- EU Bulletin 10 - 2001, point 1.3.6.

11.10.2001

The European Central Bank delivers an opinion on a proposal for a regulation concerning the labour cost index.

Reference: Adoption by the Commission: OJ C 304 E, 30.10.2001; COM(2001) 418; Bull. 7/8-2001, point 1.3.7

The ECB welcomed the draft regulation, which was part of the action plan on economic and monetary union (EMU) statistical requirements drawn up by the Commission, in close collaboration with the ECB, at the request of the Ecofin Council. The provision of harmonised data on labour costs broadens and deepens the data available for the analysis and assessment of risks to price stability as carried out under the second pillar of the ECB's monetary policy strategy.

OJ C 295, 20.10.2001

- EU Bulletin 10 - 2001, point 1.3.15.

16.10.2001

The Council calls on the Member States, in conjunction with the Commission, the European Central Bank and the Eurosystem, to establish a common European network for managing changeover information during the introduction of euro banknotes and coins. Since this network is to start functioning from early December 2001, the Council asks members of the Economic and Financial Committee to appoint one participant from each Member State to the changeover information network to provide regular information on progress with preparations for the changeover. Lastly, it invited the Economic and Financial Committee, in coordination with the ECB's Cash Changeover Committee, to stand ready to advise the Ecofin Council on how to respond to problems with the euro changeover throughout the introduction period for euro notes and coins.

- EU Bulletin 10 - 2001, point 1.3.7.

16.10.2001

The Council agrees the following arrangements for the provision of euro coins to the coin-operated industry for the purposes of in-house testing of equipment. The coin-operated industry located within the euro area is to be treated in the same way as other retailers with respect to the arrangements for making coins available before 1 January 2002. In addition, specific quantities of euro coins may be sold prior to 1 January 2002 to coin validator manufacturers and to companies which manage, service or otherwise adjust coin-operated machines, inside and outside the euro area, under certain conditions (in particular, the company must be known to the authority or institution which sells the euro coins, and the purchased euro coins must be used exclusively for testing and adaptation purposes, which assumes that counterparties will be prohibited from passing on the purchased euro coins to any third parties prior to 1 January 2002 and will be required to store the euro coins safely in order to avoid theft). Any breach of the obligations of counterparties receiving coins for in-house tests may be subject to payment of contractual penalties.

- EU Bulletin 10 - 2001, point 1.3.8.

22.10.2001

The Commission adopts a communication (COM(2001) 600) to the Council, Parliament, the Economic and Social Committee, the Committee of the Regions, the European Central Bank and the Court of Justice on copyright protection of the common face design of the euro coins.

References: Council Regulation (EC) No 974/98 on the introduction of the euro: OJ L 139, 11.5.1998; point 1.2.8
Council Regulation (EC) No 975/98 on denominations and technical specifications of euro coins intended for circulation: OJ L 139, 11.5.1998; point 1.2.9

In this communication, the Commission sets out the arrangements that have been put in place for the enforcement of the copyright on the design of the common face of euro coins and the applicable reproduction regime. It states that the copyright belongs to the European Community, as represented by the Commission.

- EU Bulletin 10 - 2001, point 1.3.9.

23.10.2001

Parliament takes the view that the aim of the reforms of the international financial institutions must be to make them more efficient and more transparent and, as regards organisations and groups other than the International Monetary Fund and the World Bank, more universal. In view of the globalisation of financial activities and increasing disintermediation, it advocates globally integrated prudential supervision. In that connection, it called for the role of coordinating existing national supervisory and regulatory authorities to be given to the European Central Bank and is of the opinion that the ECB ought also to take an active part in establishing close coordination at international level.

- EU Bulletin 10 - 2001, point 1.3.10.

24.10.2001

The European Parliament amends in a first reading the proposal for a regulation on the establishment of a common classification of Territorial Units for Statistics (NUTS).

References: Commission proposal: OJ C 180, 26.6.2001; COM(2001) 83; Bull. 1/2-2001, point 1.3.31
Economic and Social Committee opinion: OJ C 260, 17.9.2001; Bull. 7/8-2001, point 1.3.5

The amendments of the EP are designed to take into account the fact that the comparability of regional statistics requires the actual institutional, political and administrative situation to be respected and non-administrative units to correspond to economic, social, geographical and environmental circumstances. Other amendments aim, among others, to clarify the definitions of the population on which the classification is based and the population of a territorial unit, replacing the term 'regions' by the term 'territorial units', and to restrict to islands and outermost regions any deviations from the thresholds laid down for certain non-administrative units.

- EU Bulletin 10 - 2001, point 1.3.14.

30.10.2001

Commission adopts a communication (COM(2001) 619 ) on structural indicators for the Council.

References: Conclusions of the Lisbon European Council: Bull. 3-2000, point I.17
Conclusions of the Feira European Council: Bull. 6-2000, point I.33
Commission communication on structural indicators: COM(2000) 594; Bull. 9-2000, point 1.3.1
Council conclusions on structural indicators concerning employment and social cohesion: Bull. 10-2000, point 1.3.1
Conclusions of the Nice European Council: Bull. 12-2000, point I.15
Conclusions of the Stockholm European Council: Bull. 3-2001, points I.25 and I.26
Conclusions of the Gothenburg European Council: Bull. 6-2001, points I.18 and I.25

In this communication the Commission describes the progress its departments have made on developing new indicators and improving the quality of last year's list of structural indicators. The main change this year is the inclusion of a fifth domain on the environmental aspects of sustainable development. The indicators in this domain cover the four main areas highlighted by the Gothenburg European Council (combating climate change; ensuring sustainable transport; addressing threats to public health; managing natural resources more responsibly). The Commission is in favour of keeping the list short in order to send clear, simple and focused policy messages, but also believes that it should be balanced to reflect the equal importance that Lisbon and Gothenburg placed on the domains of employment, innovation and research, economic reform, social cohesion and sustainable development.

- EU Bulletin 10 - 2001, point 1.3.2.

6.11.2001

The Council adopts the Fourth progress report by the Economic and Financial Committee on information requirements in Economic and Monetary Union.

References: Council conclusions on the statistical requirements for economic and monetary union: Bull. 6-2000, point 1.3.11
Commission’s action plan on the statistical requirements for the operation of economic and monetary union; Bull. 9-2000, point 1.10.7
Third report: Bull. 1/2-2001, point 1.3.27

The report examines the progress made in implementing the action plan on EMU statistical requirements (EMU action plan), adopted in September 2000. The Council notes that further progress had been made on labour market statistics, short-term business statistics and statistics on external trade, but that much remained to be done in some Member States to achieve the targeted 80 % coverage of Member States' data in euro-area aggregates.

- EU Bulletin 11 - 2001, point 1.3.4. + 1.3.8.

8.11.2001

The Council approves a proposal for a regulation amending the existing reclassification of settlements under swap arrangements and under forward rate agreements.

Regulation to be amended: Council Regulation (EC) No 2223/96 on the European system of national and regional accounts in the Community: OJ L 310, 30.11.1996; Bull. 6-1996, point 1.7.1
Commission proposal: OJ C 116 E, 26.4.2000; COM(1999) 749
European Central Bank opinion: OJ C 103, 3.4.2001
Parliament opinion (first reading): OJ C 343, 5.12.2001; point 1.3.13
Amended Commission proposal: OJ C 270 E, 25.9.2001; COM(2001) 328; Bull. 6-2001, point 1.3.11

- EU Bulletin 11 - 2001, point 1.3.10.

15.11.2001

The Committee of the Regions adopts a proposal for a regulation on the establishment of a common classification of Territorial Units for Statistics (NUTS).

References: Commission proposal: OJ C 180 E, 26.6.2001; COM(2001) 83; Bull. 1/2-2001, point 1.3.31
Economic and Social Committee own-initiative opinion: OJ C 260, 17.9.2001; Bull. 7/8-2001, point 1.3.5
Parliament opinion (first reading): Bull. 10-2001, point 1.3.14

The amendments aim to recognise the statistical and geographical features of island regions and of outlying regions without going so far as to classify small coastal islands as autonomous NUTS territories, assign NUTS 1 status to regions in Member States with a federal structure or where the regions possess broad responsibilities and a high level of autonomy, and include the basic level of economic and social organisation in all the present and future EU Member States - the municipality - as NUTS level 5 in the European statistical classification.

- EU Bulletin 11 - 2001, point 1.3.11.

28.11.2004

The Economic and Social Committee adopts an own-initiative opinion on 'World economic changes: new economic challenges for the European Union'.

Reference: Commission communication on strengthening economic policy coordination within the euro area: COM(2001) 82; point 1.3.19

Among others, it believes that the Commission's role in drawing up proposals for economic policy and the macroeconomic policy mix must be strengthened in the Community interest and calls for the dialogue between the policy mix actors to be better institutionalised. To that end, discussion of the Commission communication on strengthening economic policy coordination within the euro area should be resumed.

- EU Bulletin 11 - 2001, point 1.3.1.

28.11.2001

The Commission adopts a proposal for a European Parliament and Council decision on the Community statistical programme 2003 to 2007. (doc. COM(2001) 683)

References: Previous programme: 1998-2002/COM(97) 735; point 1.7.1
Basic Regulation: Council Regulation (EC) No 322/97 on Community statistics: OJ L 52, 22.2.1997; Bull. 1/2-1997, point 1.6.1

The five-year programme presented by the Commission is the sixth successive medium-term programme of work presented by Eurostat. Each programme provides an overview of the strategies, priorities and work plans for each planning period. This programme proposes a structured and rational approach to the necessary work required to meet the challenges facing the European statistical system. The document describes the statistical requirements judged necessary for all of the policy titles of the EC Treaty and presents the main impacts of Community policies on each of these titles.

- EU Bulletin 11 - 2001, point 1.3.14.

3.12.2001

The Council adopts conclusions on the Commission communication on structural indicators.

References: Conclusions of the Lisbon European Council; point I.17
Conclusions of the Feira European Council; point I.33
Conclusions of the Nice European Council; point I.15
Conclusions of the Stockholm European Council; points I.25 and I.26
Conclusions of the Gothenburg European Council; points I.18 + I.25
Commission communication: COM(2001) 619; point 1.3.2

The Council welcomes the Commission communication on structural indicators, pointing out that the existence of appropriate indicators should allow the effective and transparent follow-up of policies and was therefore essential for the European employment strategy and for the actual implementation of the open method of coordination in the European Union …

> more : - EU Bulletin 12 - 2001, point 1.3.3.

On 10 December, taking into account the opinions adopted in its other configurations (Environment, Employment and social policy, and Economic and financial affairs), the Council (General Affairs) endorses the final list of forty-two structural indicators.

- EU Bulletin 12 - 2001, point 1.3.4.

3.12.2001

The Council adopts a joint contribution of the Employment Committee and the Social Protection Committee to the establishment of the broad economic policy guidelines (Draft Council Act on the broad economic policy guidelines for 2002)

References: Conclusions of the Lisbon European Council; point I.11
Conclusions of the Feira European Council; point I.23
Conclusions of the Stockholm European Council; point I.25
Council Recommendation 2001/483/EC on the broad guidelines of the economic policies of the Member States and of the Community for 2001: OJ L 179, 2.7.2001; point 1.3.3
Conclusions of the Gothenburg European Council; point I.18

In line with the conclusions of the European Council of Lisboa, the purpose of this ‘Act’ is to involve Council configurations other than Economic and financial affairs more closely in the establishment of the broad economic policy guidelines as these increasingly form the framework within which the general guidelines and objectives of economic and monetary policy are defined.

- EU Bulletin 12 - 2001, point 1.3.5.

6.12.2001

The Council adopts two decisions on the protection of the euro against counterfeiting:

1. Council Decision 2001/887/JHA on the protection of the euro against counterfeiting.

References: Initiative of France: OJ C 75, 7.3.2001
Parliament opinion: Bull. 5-2001, point 1.4.16
Council agreement: Bull. 5-2001, point 1.4.16
Parliament second opinion: Bull. 10-2001, point 1.4.16

The Council made some clarifications about the definition of counterfeit notes, counterfeit coins, counterfeiting, offences related to counterfeiting of the euro and competent authorities. It encouraged the national central offices to communicate to Europol centralised information on investigations into counterfeiting.

OJ L 329, 14.12.2001

2. Council framework Decision 2001/888/JHA amending framework Decision 2000/383/JHA on increasing protection by criminal penalties and other sanctions against counterfeiting in connection with the introduction of the euro.

Decision amended: Framework Decision 2000/383/JHA: OJ L 140, 14.6.2000; point 1.4.13
Initiative of Sweden: OJ C 225, 10.8.2001; point 1.4.10
Parliament opinion: Bull. 10-2001, point 1.4.15

The purpose of this decision is to complement the measures of framework Decision 2000/383/JHA by an article to the effect that every Member State should recognise the principle of the recognition of previous convictions under the conditions prevailing in its domestic law and, for the purpose of establishing habitual criminality, should recognise final sentences handed down in another Member State for the offences referred to in this framework decision.

OJ L 329, 14.12.2001

- EU Bulletin 12 - 2001, point 1.4.22. + 1.4.23.

> 1.4.23

13.12.2001

The Commission adopts a report (document COM(2001) 771) on increasing protection by criminal penalties and other sanctions against counterfeiting in connection with the introduction of the euro (based on Article 11 of the Council Framework decision of 29 May 2000)

References: Commission communication on measures to combat the counterfeiting of euro notes and coins: COM(1998) 474; point 1.6.13
Council Regulation (EC) No 1338/2001 laying down measures necessary for the protection of the euro against counterfeiting; Council Regulation (EC) No 1339/2001 extending the effects of Regulation (EC) No 1338/2001 to those Member States which have not adopted the euro as their single currency: OJ L 181, 4.7.2001; point 1.7.10
Council framework Decision 2001/888/JHA amending framework Decision 2000/383/JHA on increasing protection by criminal penalties and other sanctions against counterfeiting in connection with the introduction of the euro; point 1.4.23

The purpose of this report is to enable the Council to assess the measures taken by the Member States and to enable the European Central Bank to assess the level of protection by criminal law of the euro on the basis of these measures. The Commission notes that some Member States have not transposed on time the provisions imposed on them under this framework decision.

- EU Bulletin 12 - 2001, point 1.3.7. + 1.4.24.

14.12.2001

The Commission adopts a communication (COM(2001) 776) to the Council, Parliament, the Economic and Social Committee, the Committee of the Regions, the European Central Bank and the Court of Justice on the visual characteristics of the euro coins.

References: Council Regulation (EC) No 974/98 on the introduction of the euro: OJ L 139, 11.5.1998; point 1.2.8
Council Regulation (EC) No 975/98 on denominations and technical specifications of euro coins intended for circulation (OJ L 139, 11.5.1998; point 1.2.9), as last amended by Regulation (EC) No 423/1999: OJ L 52, 27.2.1999; point 1.3.14

The purpose of this communication is to provide photographs of the common face and the national faces of the euro coins together with a brief factual description of the design with a view to their publication in the C Series of the Official Journal of the European Communities.

OJ C 373, 28.12.2001

- EU Bulletin 12 - 2001, point 1.3.8.

14./15.12.2001

The European Council of Laeken (B) adopts, among others, a common position as to the transition to the euro.

Reference: Regulation (EC) No 2560/2001 of the European Parliament and of the Council on cross-border payments in euro: point 1.3.48 of this Bulletin

“The introduction of euro notes and coins on 1 January 2002 is the culmination of a historic process of decisive importance for the construction of Europe. Every measure has been taken to ensure that the physical introduction of the euro is a success. The use of the euro on international financial markets should be easier as a result. The euro area now represents a pole of stability for those countries participating in it by protecting them from speculation and financial turmoil. It is strengthening the internal market and contributing to the maintenance of healthy fundamental figures, fostering sustainable growth. The euro is also helping to bring the citizens of the Union closer together by giving visible, concrete expression to the European design. In that regard, the European Council welcomes the recent adoption by the Council and the European Parliament of a decision intended to reduce substantially the cost of cross-border payments in euro.”

- EU Bulletin 12 - 2001, point I.4. 5.

19.12.2001

The European Parliament and the Council adopt a common position on cross-border payments in euro (Regulation (EC) No 2560/2001)

References: Commission proposal: OJ C 270 E, 25.9.2001; COM(2001) 439; point 1.3.30
European Central Bank opinion: OJ C 308, 1.11.2001
Parliament opinion (first reading); point 1.3.43
Council agreement; point 1.3.43
Economic and Social Committee opinion; point 1.3.43

The common position, formally adopted by the Council on 7 December (OJ C 363, 19.12.2001), and, approved by Parliament on 13 December, provides for the dates of entry into force as regards charges for cross-border payments and credit transfers in euro.

The Regulation aims, in parallel with the introduction of the euro on 1 January 2002, to reduce bank charges for cross-border payments in euro to bring them into line with those applying at national level for euro transactions. It also covers Community currencies other than the euro by providing for its application to cross-border payments in the currency of another Member State as soon as the latter notifies the Commission of its decision to extend the application to its currency.

OJ L 344, 28.12.2001

- EU Bulletin 12 - 2001, point 1.3.6. + 1.3.48.

19.12.2001

The Commission adopts a regulation ((EC) No 29/2002) on the statistical classification of economic activities in the European Community.

Reference: Regulation amended: Council Regulation (EEC) No 3037/90 (OJ L 293, 24.10.1990), as last amended by Council Regulation (EEC) No 761/93: OJ L 83, 3.4.93

The regulation aims to adopt the statistical classification of economic activities in the European Community as from 1 January 2002, incorporating the new statistical requirements arising from economic or technological change.

OJ L 6, 10.1.2002

- EU Bulletin 12 - 2001, point 1.3.21.

1.1.2002

The physical introduction of euro banknotes and coins.

Within two months after the introduction of euro banknotes and coins, the euro is firmly established as the everyday currency in the life of more than 300 million Europeans. It took only a few days for people to replace much of their national currencies with the new euro notes and coins. At the beginning of February, more than 95 % of cash transactions were in euro in all of the euro-zone countries.

The speed of the changeover to the euro can be traced to two main factors:

·  firstly, the enthusiasm with which European citizens welcomed the arrival of the notes and coins;

·  secondly, the meticulous preparation of the operation with a massive advance distribution of notes and coins to financial institutions and the retail sector.

Thanks to the considerable efforts of all parties involved in that changeover (the retail sector, the security transport sector and the financial institutions), the euro changeover was an logistic challenge and unprecedented success.

The last step in this changeover to the euro is the withdrawal of national currencies.

The period of dual circulation legally lasts until the end of February (see also the table: Dual-circulation period: rest of period and subsequent arrangements in the Bulletin)

- EU Bulletin 1/2 - 2002, point 1.3.20.