EURO developments

EURO developments:
- The Commission has recommended that eleven countries meet the necessary conditions to adopt the single currency (Belgium, Germany, Spain, France, Ireland, Italy, Luxembourg. the Netherlands, Austria, Portugal and Finland). The Commission adopted these recommendations and the convergence report on 25.3.98. The final decision will be taken by a recommendation from the Ecofin Council after consulting the European Parliament later in the year.
Source: COM (98)1999 final (25.3.98); Press Release (European Commission), IP/98/273 (25.3.98)

- The Commission adopted three Recommendations on 15.4.98 on the practical aspects of the introduction of the EURO. The cover banking charges for conversion to the EURO; dual display of prices and other monetary amounts; and dialogue, monitoring and information.
Source: Press Release (European Commission), IP/98/357 (15.4.98); Official Journal L130, 1.5.98, p22

- Proposal for a Council Decision on the consultation of the European Central Bank by national authorities on draft legislative provisions.
Source: Official Journal C118, 17.4.98, p11/COM
(97)725 final (20.2.98)

- DG II of the Commission has published in their Euro Papers series three reports from Expert Groups on various aspects of the EURO: No.18: Acceptance of the new prices and scales of values in EUROs; No.19: EURO-education; No.20: Small businesses and the EURO. Other recent titles published in the series include: No.22: The introduction of the EURO and the rounding of currency amounts. All are available on the EURO server at http://europa.eu.int/euro/

- The UK Government has launched an initiative to help UK businesses plan for the EURO. There is a telephone hotline: 08456-010199 and a new UK Government EURO site on the Internet: http://euro.gov.uk

- Formal decisions on the eleven countries to move to Stage III of EMU and decisions on the choice of President of the European Central Bank and members of the ECB Executive Board were taken at historic meetings in Brussels, 1-3.5.98.
Source: Official Journal L139, 11.5.98, p1; Official Journal C160, 27.5.98, p1; Official Journal L154, 28.5.98, p33; Document (European Commission), DOC/98/3&4 (3.5.98); Memo (European Commission), No.35, 1998 (4.5.98) and Press Release(Council of Ministers), PRES/98/120 (1.5.98) + newspaper articles