Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-07-03-Speech-2-183"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20010703.9.2-183"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:translated text |
".
When there are people who possess significant quantities of notes, above all within the eurozone, and of national currencies outside the eurozone, two types of situation arise: normal saving by these people and the quest for protection in the face of their exchange rate situation. In both cases it is perfectly justified to possess these holdings. And there is no problem in changing these holdings into the new euro, via their commercial banks, via the European banks which have branches or subsidiaries in the area.
Certain different cases are raised: the possible existence of European currency on unofficial or black-market networks. There must clearly not be any favourable treatment for this type of situation. The same rules must be applied as for exchange in the European Union, that is, in those cases where somebody is identified as the holder of a quantity of a currency, the exchange takes place without any type of risk, even for quantities greater than the minimum amounts laid down in the money laundering directive. When quantities are exchanged which do not reach the limits of the directive on money laundering, the exchange may take place without requesting identification of the holder of the funds. However, in my opinion, when the quantities are high and exceed those laid down, identification should be demanded.
You have raised a different problem. Since this requirement is going to be maintained, is it not possible that some of these holdings will move to the dollar. Firstly, we do not have that impression, given the figures for the inflow of notes into the different central banks; secondly, in the countries which have signed up to the obligations of the money laundering convention, the same criteria I have mentioned must be applied for exchanges from European currency to the dollar. The situation you mention could only arise in certain countries which have more lax legislation, which today allow a European currency to be exchanged for another currency, the dollar or any other, without being subjected to those requirements."@en1
|
Named graphs describing this resource:
The resource appears as object in 2 triples