Press Release: 18 months before EUR – day Commission monitors progress and flags up tasks ahead

On 12.7.00 the Commission published for the first time comprehensive information on the cash changeover arrangements in the euro-zone covering issues such as the end date of the legal tender of the national banknotes and coins, €-banknote denominations to be offered by ATM machines in each member state, arrangements for distribution of €-coin kits to citizens prior to 1.1.02 and arrangements for the withdrawal of national coins from circulation. The Commission has stepped up monitoring of the cash changeover arrangements, is pushing for solutions on any unresolved issues and is actively promoting best practices among member states.

The initiative takes the form of a Communication to the Council and European Parliament which Commissioner Solbes will present to the Ecofin Council Ministers on 16-17.7.00. The practical aspects of the € introduction will be discussed by the informal Ecofin on 8-9.9.00. In parallel the Commission will consult with all appropriate professional and consumer associations before issuing a new Recommendations to member states later this year.

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