Local view for "http://purl.org/linkedpolitics/eu/plenary/1999-12-02-Speech-4-023"

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"Mr President, the excellent Torres Marques report marks the end of a debate which started 10 months ago. Fortunately, the Commission, the Council and the European Parliament are in agreement about ratifying the timetable for the introduction of the euro agreed at the Madrid European Council of 1995. This consensus demonstrates that careful management of the various periods is the key to the success of the operation. Our efforts must be concentrated on ensuring that this transition goes smoothly. Our role is to protect the interests of the people, particularly those who are disadvantaged. Respect for the timetable will provide the time needed for the information to reach everyone and may also allow the dual circulation period to be reduced. The Committee on Economic and Monetary Affairs maintains that this period should not exceed two months. The ECB, the Commission and the national authorities will therefore have to adopt a series of measures, some of which have already been mentioned. For example, they will have to provide consumers, traders and banks with the necessary quantity of coins and notes before 1 January 2002. They will have to ensure that dual price display is in general use for 1 January 2001. They will have to use this process to modernise our payment systems and they will have to adopt the necessary measures to ensure adequate legal protection against fraud. If the euro is to bring greater freedom to individuals and companies and increased rationality in their decision making, they must previously have become familiar with the new system. In this respect, the recommendations on communication and information policies contained in the Torres Marques report have a vital role to play. However, we should not imagine that the euro will perfect the single market or that it will allow, for example, easier price comparison or a reduction in transaction costs. The benefits of the euro must be more than just material for they must help to strengthen the political union."@en1

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