Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-07-03-Speech-2-089"
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"en.20010703.6.2-089"2
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"Mr President, this report on switching to the euro cannot be viewed in isolation. It builds on previous reports submitted
by Mr Karas and Mrs Torres Marques and upon the recent correspondence between Mrs Randzio-Plath and our President, Mrs Fontaine.
I would like to make a few final points. Of course, there are technical measures that could be taken, and I know that the ECB is also in favour of these: banks opening on 1 January, frontloading of euro coins, as is happening in a number of Member States, providing shopkeepers with better insurance and loading cash machines with small notes. Furthermore, those cash machines are a cause of concern, as far as I can see. We have, in fact, been supplied with recent figures in this respect from the European Commission. I would certainly not object to testing them in different Member States during the last days of the year. I would welcome your opinion on this matter.
The first days of January will be crucial to how much confidence 300 million citizens, and the whole world, can place in the euro. I wish you all the best in the implementation of that project. I do hope that you yourself will be prepared to reflect on our considerations.
I am delighted to note that the European Central Bank and the European Commission are talking the same language as the European Parliament. Only eight amendments have been tabled to this report, by a group none of whose members, I notice, are present in this debate.
The euro is already a success, as Mr Duisenberg pointed out convincingly a moment ago. It is also the most exciting European project to date. After all, the European Union is no longer a theory but a tangible reality for all citizens in the euro-zone or, rather, all citizens in Europe and all world citizens. That is happening for the first time in the history of our European cooperation.
The launch date is 1 January. The issue will then not simply be about confidence in that currency, it will be about confidence in the European project as a whole, and that European project is, of course, open to all kinds of criticisms at the moment, the most recent case in point being the Irish referendum.
Provided it is done well, the introduction of the euro could , silence all that criticism. It could ensure that all citizens in euro land are proud of the way it has been done, maybe against all expectations. Where it is not done well, on the other hand, the introduction of the euro could also intensify criticism not only of the euro but also of European cooperation. After all, citizens need not read about the introduction of the euro in their newspapers. They can witness it for themselves. Current criticism with regard to European cooperation is that the decision-making process is not transparent, that citizens are not being heard and that the people at the top know it all. But those people at the top can also subsequently be brought very much down to earth in the eyes of the public. That applies to all of us, in fact.
Consumer organisations, as well as organisations in the medium-sized and small business sectors, have informed us of their wish to have small euro notes distributed during the last days of December – as is, in fact, also to happen in the case of euro coins – maybe in the form of packets that can be bought in banks or by switching over cash machines sooner, or in whatever other way. The public at large must gain access to those notes. That is an effective way to discourage counterfeiting. After all, citizens will then know from their own experience what the notes, obtained from a reliable source, look like. It benefits the safety of shopkeepers who will need to stock far fewer euros in their shops in order to have sufficient change on 1 and 2 January. It benefits the public. Fewer exchange problems arise when old currency is handed in to shops and euros are given in return. You know you will receive the right amount of the correct money if you pay in euros and get your change in euros. It can prevent a general sense of irritation.
I can understand the argument of Mr Duisenberg who says: we want to adhere to a decision we have taken. We want to be trustworthy in that respect. I can understand that well because many critics would, of course, exploit this and say that the European Central Bank has changed its mind again. That is not how things work.
However, we do believe that there are fresh facts. These have surfaced following research carried out within industry, which shows that the practical problems would really be enormous if we were not to distribute euro notes beforehand. I am not saying that frontloading is a guarantee that there will not be any problems, for that is not the case. Neither am I saying that, in the absence of frontloading, there will be considerable chaos. I have a reasonable amount of confidence in the consumer, who will know how to deal with these problems. I do believe that by frontloading, we are, in a relatively simple manner, reducing the risk of problems arising .
We would welcome a review of your decision. It would also be a sign of wisdom. Moreover, what happens if, by the end of the year, the pressure mounts and Ministers perhaps decide to change their minds and want to frontload in their own countries after all?"@en1
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