Update on the practical aspects of the introduction of the euro [108 KB]
(Euro Papers. 21. February 1998.
Brussels. Tab. Ann. Free.)
Introduction and Executive Summary
Preparations for the introduction of the euro are underway in all sectors. The Commission Communication on "Practical Aspects of the Introduction of the Euro" of October 1997, provided information on these ongoing preparations at national and European level by both the private and the public sectors, and identified issues where decisions remained to be taken and further work had to be done. The aim of this Communication is to provide an update on developments since October, and to indicate future actions which are planned by the Commission. The Communication will also serve as a basis for discussions at the Round Table organised for 26 February 1998.
Since the publication of the October 1997 Communication, much has been achieved. In particular:
- Eleven Member States have so far published a national changeover plan (Belgium, Ireland, Italy, Luxembourg, the Netherlands, Austria, Finland, France, Portugal, Spain), or in the case of one (Germany) a comprehensive draft transition law. The Commission has produced an overview of these preparations in the form of a Working Paper on "Preparations for the Changeover of Public Administrations to the Euro."
- The Commission has adopted a Communication on an "Information Strategy for the Euro".
- The Commission has adopted a Communication on "The Impact of the Changeover to the Euro on Community Policies, Institutions and Legislation."
- The five expert working groups, created as a follow-up to the Round Table of May 1997, have concluded their work on banking charges for conversion to the euro, technical and cost aspects of dual display, adjusting to prices and values in euro, small enterprises and the euro, and the role of education in the introduction of the euro.
- The European Council in Luxembourg in December 1997, on the basis of the conclusions of the Council of 17 November 1997, confirmed 1 January 2002 as the date for the introduction of euro notes and coins in all participating Member States.
- A Council Resolution has been adopted on the technical specifications of euro coins.