Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-04-03-Speech-2-195"
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"en.20010403.9.2-195"2
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Mr President, ladies and gentlemen, the euro has been a reality since 1 January 1999 and the coins and notes will be introduced in 272 days. We will thereby complete the historic process of passing from our countries each having their own currencies to sharing the same currency within the Economic and Monetary Union.
We have also developed a series of good practices, which are nothing more than a series of simple, practical ideas which are being applied in some Member States and which are being made known to the others so that they can also apply them. In today’s communication, the Commission offers 20 new practices, 10 to be applied before the introduction of notes and coins on 1 January, and another 10 which could be implemented at a later date. Those measures are not applicable in all the Member States of the Economic and Monetary Union, but they are a set of ideas which each Member State may have recourse to and use if the State considers it appropriate. I will mention some, which are, as I said before, relatively simple ideas such as distributing to small businesses instruments for calculating the exchange of currency while the national currency and the euro are being used at the same time. Or creating and distributing instruments for calculating the cash requirements of small businesses, a fundamental issue when it comes to calling for the front loading of notes and coins. Another measure, in agreement with consumers and businesspeople, is to start to pay a part of salaries, at the end of the year, with ‘kits’ of euro coins, which is a possibility.
After the introduction of the notes and coins on 1 January 2002, other issues of interest may be raised. For example, we recommend that sales do not take place, as is usually the case in some Member States, on 2 January, as that would give rise to an unmanageable situation from the point of view of the operation of those businesses. We also recommend, for example, that the ‘neutralisation’ of national notes be authorised for some economic operators, so that we can reduce the risks of transport. We also propose, for example, as has happened in France, that specific precalibrated instruments for the old currency be created, so that the exchange of national coins may take place more easily.
Finally, there is a series of ideas which we believe to be useful, which have been applied already in some Member States and which are no doubt going to be have a positive effect in terms of ensuring that this introduction of notes and coins for 300 million Europeans takes place more easily. The logistical operation is of great importance, and we should try to resolve the majority of the problems before that date arrives so that these possible second level and less important practical problems do not cloud the fundamental issue, that is the introduction of euro notes and coins.
The first two years of the euro have led to the consolidation of good economic results and substantial advances. I am not going to repeat the figures for growth or inflation or the extent to which monetary policy has contributed to growth or to the convergence of our economies, nor the role played by the euro as a protective factor in the face of external crises. In any event, it is clear that the euro has had a definite impact on financial integration and has created the conditions for a broad and very fluid European market.
This new situation enables us to confront the challenges facing us, such as those in the field of budgetary policy. It enables us to prevent this being procyclical and to prepare ourselves for the risks posed by the ageing of the population, to speed up our structural reforms in order to improve our growth potential, to make progress in the field of financial legislation in order to further integrate the markets, and to complete the process through the introduction of notes and coins, which we hope will take place successfully on 1 January.
There is absolutely no doubt that the introduction of the euro is going to be an historic event. Every company, consumer and authority must adapt to this new situation, and the communication being presented today consists of a report on the situation with regard to the preparations for the introduction of coins and notes, but also, as well as assessing the general situation, additional work is being carried out: on the one hand, to establish to what extent the content of the Commission recommendation of last 11 October has been complied with by the Member States and, secondly, to establish a series of good practices, the application of which may contribute to aiding the correct development of operations relating to the introduction of notes and coins.
It is possible that this new communication will mark the end of Commission communications to the Council. And I say it is possible because we do not rule out the idea that, if new factors arise which suggest the need for a new communication, then this would be done next October. In any event, I would like to respond to the two questions which are the subject of today’s document: what is the current situation and what new practices are proposed. The framework of preparations presents a situation which I would call unequal. It is not a black or white situation; it is a grey situation and, in some cases, it is too dark a grey, but only in some very specific cases, it is true.
With regard to companies, it is true that, generally, the preparation of large companies has made very satisfactory progress, but small and medium-sized businesses are still somewhat behind. Approximately half of them have improved the situation, but still half of them have no action plan to transfer to the euro on 1 January. What is more significant is that one in three of them is still not aware that 1 January 2002 is the time limit for carrying our all their operations in euros. Therefore, increasing the awareness of small and medium-sized businesses is still one of the fundamental concerns of our communication.
With regard to consumers, the eurobarometer for January demonstrates the consumers’ vision of the euro, and we must acknowledge that in some cases it is relatively confused. For example, one in every four people (25 per cent) believes that euro notes and coins issued in one country will only be legal currency in that country, which indicates that a factor as fundamental as the existence of the single currency is still not fully understood. One in every five, however, is not aware, for example, that the introduction of the euro will be accompanied by the withdrawal of the old currencies and, although progress has been made on the issue of the timetable, 40% of citizens do not yet know the exact date of the introduction of euro notes and coins.
The numerous information campaigns have had limited effects, but it is true that it is difficult to persuade consumers to take an interest in an event which they see as far off. There is plenty of documentation, but that documentation is not always read. We are convinced that this situation will improve at the beginning of the second six-month period, with large companies that issue invoices changing their bank accounts and other means of collecting payment early. This will contribute to consumers being progressively more involved in the new situation we are creating. Public administrations are generally prepared and offer the public the opportunity to use the euro in a very broad range of operations, although it is true that they could play a more significant role, acting as a catalyst for the whole of the economy, for example, by paying, public contracts or officials’ salaries in euros, something which has taken place in some Member States, but not in all of them.
The banks are cooperating well; they are carrying out changes in advance in their relations with their clients; the adaptation of automatic cash dispensers in 2002 will probably be very rapid, and even immediate in the majority of Member States; in general, they will issue notes of low value and will thereby contribute to alleviating the problems of returning change which may arise in commercial operations. The exchange of national notes for euros will be free and unlimited in the majority of participating States during the period of dual circulation. The banks have in fact become one of the driving forces in the transfer to the euro and their policy of early exchange is a very important contribution to increasing awareness of the euro amongst economic operators."@en1
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