Activites

• 1998/05/11 Final act published in Official Journal
  • Regulation 1998/974
  • OJ L 139 11.05.1998, p. 0001
• #2089
• 1998/05/03 Council Meeting
• 1998/05/03 End of procedure in Parliament
• 1998/05/03 Act adopted by Council after consultation of Parliament
• #2023
• 1997/07/07 Council Meeting
• #2014
• 1997/06/09 Council Meeting
  • 2014
• #1973
• 1996/12/02 Council Meeting
  • 1973
• 1996/11/28 Decision by Parliament, 1st reading/single reading
  • T4-0645/1996 summary

    In adopting the report by Mr Fernand HERMAN (PPE, B), Parliament proposed certain clarifications designed to strengthen legal security concerning transition to the euro, inter alia: - any creditor holding an account denominated in euro shall be presumed to accept that his debtor may discharge his debt in euro, unless he has expressly excluded this possibility; - no exchange-rate risk shall be deemed to exist between the euro and the national currencies of the participating Member States or between the latter's national currencies; - routine conversion of national currencies of participating countries into and out of euro shall be free of costs and charges; - bonds, government securities and deposit certificates with terms longer than three years issued after 1 January 1999 shall be denominated in euro. Parliament rejected the amendments concerning double pricing. However, it called on the Member States to take all appropriate measures to ensure that during the critical period of the introduction of the euro as legal tender, pricing in euro cannot mislead consumers as to the real value of the goods or services they purchase.�

• 1996/11/27 Debate in Parliament
• 1996/11/12 Vote in committee, 1st reading/single reading
  • A4-0375/1996
• #1960
• 1996/11/11 Council Meeting
  • 1960
• 1996/11/11 Committee referral announced in Parliament, 1st reading/single reading
• 1996/10/16 Legislative proposal published
  • COM(1996)0499 summary

    OBJECTIVE: to propose, before the start of stage III of EMU, the provisions which should make up the legal framework for the use of the euro, in order to provide economic operators with the necessary legal certainty. SUBSTANCE: the draft Council Regulation on the introduction of the euro is based on Article 109 1(4) of the Treaty and will not take legal effect until the start of the final stage of EMU. Its main objectives are: - to determine the time-frame for the completion of the changeover to the euro; - to substitute the euro for the national currencies with effect from 1 January 1999; - to establish legally enforceable equivalence between the euro and the national currency units during the period when euro banknotes and coins are not yet in circulation; - to ensure that, during this transitional period, private economic agents will be free to use the euro; but that at the same time they should not be obliged to do so; - to establish rules relating to the circulation and protection of banknotes and coins. The proposal also provides economic agents with increased certainty about: - the time-frame for the completion of the changeover; - the scope for the use of the euro during the transitional period in its own denomination and in the form of national currency units; - the exchange of banknotes and coins denominated in euro by national notes and coins at the end of the changeover process. �

Documents

• Legislative proposal published: COM(1996)0499
• Debate in Council: 1960
• Committee report tabled for plenary, 1st reading/single reading: A4-0375/1996
• Decision by Parliament, 1st reading/single reading: T4-0645/1996
• Debate in Council: 1973
• Debate in Council: 2014
• : Regulation 1998/974
• : OJ L 139 11.05.1998, p. 0001

History

(these mark the time of scraping, not the official date of the change)