Local view for "http://purl.org/linkedpolitics/eu/plenary/1999-12-02-Speech-4-024"
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"en.19991202.2.4-024"2
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"Mr President, Commissioner, the most important step with regard to the future of the euro is the moment European citizens start handling euros physically. We will try to facilitate the switch to the new currency in terms of cash by allowing the euro and national currencies to exist side by side for a few months. Parliament also supports frontloading and would, in this way, like to remove the barriers to the swift introduction of the currency. It now appears that the European Central Bank is also gradually beginning to endorse this aim.
We cannot, however, underestimate how important it is for the citizens of Europe to be prepared for the change. When Germany reunited, the West German mark was introduced into the former East Germany immediately with no major catastrophe occurring, such as those the big bang sceptics are currently describing with regard to the introduction of the euro. In many countries, the euro, with few exceptions, could be adopted within a short period of time. For example, in my country, Finland, the number of coins and notes in relation to GNP is the smallest in Europe. In addition, the ever-growing number of credit cards in relation to the population is by far the greatest. For example, I would support the big bang model for Finland. The big bang would actually only cause problems for cash dispensing machines. It will not be possible to change all the machines in one night, so the old currency should continue to be used as legal tender at least for some period of time, in cash dispensers at least.
Our citizens must have the real feeling that the euro is of benefit to them, and not something that is going to make life difficult. At present, there is a dearth of direct practical benefits, since, for example, developments in the euro zone as far as cross-border purchases and currency exchange services are concerned have not been to the satisfaction of the public. The introduction of the euro must be made easy for the public and consumers. Problems for special groups must be minimised. Everything possible must be done in remote areas to ease the introduction of the euro. Supplies of the new currency delivered early on would support these aims. What is essential for the public is not how long dual circulation lasts, but how long the banks will exchange former currencies for euros without charge. The banks should offer a free currency exchange service for at least six months, even though dual circulation might have ceased."@en1
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