BETA
Home MEPs Dossiers Committees Subjects Blog About Dumps
download json


2011/0131(COD) Issuance of euro coins

Progress: Procedure completed

RoleCommitteeRapporteurShadows
Lead ECON MARTIN Hans-Peter (icon: NA NA) GAUZÈS Jean-Paul (icon: PPE PPE), PADAR Ivari (icon: S&D S&D), IN 'T VELD Sophia (icon: ALDE ALDE), GIEGOLD Sven (icon: Verts/ALE Verts/ALE)
Lead committee dossier:
Legal Basis:
TFEU 133

Events

2012/07/27
   Final act published in Official Journal
Details

PURPOSE: to introduce binding rules for the issuance of euro coins.

LEGISLATIVE ACT: Regulation (EU) No. 651/2012 of the European Parliament and of the Council on the issuance of euro coins.

CONTENT: following an agreement reached with the European Parliament in first reading, the Council adopted a Regulation that introduces binding rules for the issuance of euro coins for circulation, and for commemorative and collection purposes.

The Regulation stipulates:

circulation coins, for the most part, shall be issued and put into circulation at face value; each Member State whose currency is the euro may only issue two commemorative 2-euro coins per year to commemorate special occasions; collector coins shall have the status of legal tender only in the issuing Member State . The identity of the issuing Member State shall be clearly and easily recognisable on the coin; the Commission shall conduct an impact assessment on the continued issuance of 1- and 2-cent coins; in order to avoid that fit euro circulation coins are destroyed by one Member State while there may be a need of such coins in another, Member States should consult each other prior to the destruction of such coins.

ENTRY INTO FORCE: 13/08/2012.

Documents
Regulation 2012/651
OJ L 201 27.07.2012, p. 0135
2012/07/04
   CSL - Final act signed
2012/07/04
   EP - End of procedure in Parliament
2012/06/27
   EC - Commission response to text adopted in plenary
Documents
SP(2012)488
2012/06/26
   EP/CSL - Act adopted by Council after Parliament's 1st reading
2012/06/26
   CSL - Council Meeting
2012/06/24
   AT_BUNDESRAT - Contribution
Documents
COM(2011)0295
2012/06/04
   CSL - Draft final act
Documents
00023/2012/LEX
2012/05/22
   EP - Results of vote in Parliament
Documents
Results of vote in Parliament
2012/05/22
   EP - Decision by Parliament, 1st reading
Details

The European Parliament adopted by 612 votes to 28 with 16 abstentions, a legislative resolution on the proposal for a regulation of the European Parliament and of the Council on the issuance of euro coins. Parliament adopted its position in first reading following the ordinary legislative procedure. The amendments adopted in plenary are the result of a compromise between Parliament and Council. They amend the Commission proposal as follows:

Collector coins: collector coins shall have the status of legal tender only in the issuing Member State and are not issued with a view to their entry into circulation . If their images are similar to any national side of circulation coins, their overall appearance can still be easily differentiated.

Member States shall take all appropriate measures to discourage the use of collector coins as a means of payment.

Types of euro coin: the Commission shall conduct an impact assessment on the continued issuance of 1 and 2 cent coins. That impact assessment shall include a cost-benefit analysis which takes into account the real production costs of those coins set against their value and benefits.

Issuance of circulation coins : the amended text states that circulation coins shall be issued and put into circulation at face value. A minor proportion, not exceeding 5 % of the cumulated total net value and volume of circulation coins issued by a Member State, taking into account only years with positive net issuance, may be put on the market above face value if justified by the special quality of the coin, a special packaging or any additional services provided.

Issuance of commemorative coins : each Member State whose currency is the euro may only issue two commemorative coins per year , save where, for example commemorative coins are collectively issued by all Member States whose currency is the euro.

The total number of commemorative coins put into circulation for each individual issue shall not exceed the higher of the following two ceilings :

· 1% of the cumulated total net number of 2-euro coins put into circulation by all Member States whose currency is the euro up to the beginning of the year preceding the year of issuance of the commemorative coin; this ceiling may be raised to 2,0 % of the cumulated total net number of EUR 2 coins of all Member States whose currency is the euro if a widely recognised and highly symbolic subject is commemorated, in which case the issuing Member State shall refrain from launching another commemorative coin issue using the raised ceiling during the subsequent four years and shall set out the reasons for choosing the raised ceiling; or

· 5.0 % of the cumulated total net number of EUR 2 coins put into circulation by the Member State concerned up to the beginning of the year preceding the year of issuance of the commemorative coin.

The decision whether to issue commemorative coins with a common design collectively issued by all Member States whose currency is the euro shall be taken by the Council. The voting rights of the Member States whose currency is not the euro shall be suspended for the adoption of that decision.

Documents
T7-0210/2012
2011/12/07
   EP - Committee report tabled for plenary, 1st reading
Details

The Committee on Economic and Monetary Affairs adopted the report by Hans-Peter MARTIN (NI, AT) on the proposal for a regulation of the European Parliament and of the Council on the issuance of euro coins. The committee recommends that the position of the European Parliament in first reading following the ordinary legislative procedure should be to amend the Commission proposal, as follows:

Definition: Members consider that the current definition of euro circulation coins should be clarified and a separate definition for regular euro circulation coins should be added to avoid any ambiguity in relation to this terminology. "Euro circulation coins " is defined as regular euro circulation coins and commemorative euro circulation coins, intended for circulation, whose denominations and technical specifications are laid down in Council Regulation (EC) No 975/98.

A definition of “regular euro circulation coins” is inserted, meaning euro coins intended for circulation excluding commemorative euro circulation coins. The definition of "Euro collector coins" is deleted, since the amended definition of ‘euro circulation coins’ explicitly comprises the commemorative euro coins intended for circulation.

Impact assessments : the committee states the Commission shall conduct impact assessments on:

· the continued issuance of 1 and 2 cent coins. That impact assessment shall include a cost-benefit analysis which takes into account the real production costs of 1 and 2 cent coins set against their value and benefits;

· on the possible issuance of EUR 1 and EUR banknotes. Following this impact, the Commission shall draft a report setting out the advantages and disadvantages of issuing EUR 1 and EUR 2 banknotes.

Issuance of commemorative euro circulation coins: each participating Member State may only issue one commemorative euro circulation coin every six months, (rather than every year.)

Issuance of euro collector coins : Members state that Euro collector coins may be sold at or above face value, which reflects the agreement of Member States reached at the Ecofin Council meeting on 5 November 2002, allowing the sale of euro collector coins above face value.

Consultation prior to the destruction of euro circulation coins : the report specifies that Member State shall indicate which type of coin (euro circulation coin, euro collector coin or euro commemorative coin) is to be destroyed as this will directly affect the ceilings established in the provisions on issuance of commemorative euro circulation coins.

Documents
A7-0439/2011
2011/11/29
   EP - Vote in committee, 1st reading
2011/10/31
   EP - Amendments tabled in committee
Documents
PE475.845
2011/10/06
   EP - Committee draft report
Documents
PE473.801
2011/08/23
   ECB - European Central Bank: opinion, guideline, report
Details

OPINION OF THE EUROPEAN CENTRAL BANK on a proposal for a Regulation on the issuance of euro coins and on a proposal for a Regulation on denominations and technical specifications of euro coins intended for circulation.

On 28 June 2011, the European Central Bank (ECB) received a request from the European Parliament for an opinion on a proposal for a Regulation of the European Parliament and of the Council on the issuance of euro coins.

On 5 July 2011, the ECB received two further requests from the Council of the European Union for an opinion on: (a) the proposed regulation; and (b) a proposal for a Council Regulation amending Regulation (EC) No 975/98 of 3 May 1998 on denominations and technical specifications of euro coins intended for circulation.

The ECB understands that: (i) the proposed regulation is intended to codify the current Union non-binding legal instruments and conclusions regarding the issuance of euro coins; (ii) in laying down general provisions for the issuance of euro coins at Union level, the objective is to harmonise relevant practices among Member States and ensure legal certainty and transparency.

The ECB makes the following remarks:

The ECB notes that according to Article 128(2) of the TFEU , the issuance of euro coins is the responsibility of the participating Member States, whilst the Parliament and the Council have the competence to lay down the measures necessary for the use of the euro as the single currency pursuant to Article 133 of the TFEU. In addition, the Council may, according to Article 128(2) of the TFEU, adopt measures to harmonise the denominations and technical specifications of all coins intended for circulation to the extent necessary to permit their smooth circulation within the Union.

Hence, the adoption of Union legislation on euro coin issuance must respect the participating Member States’ competence to issue euro coins and their capacity as legal issuers of euro coins .

In addition, while the ECB’s tasks and responsibilities under the TFEU and the Statute of the European System of Central Banks and of the European Central Bank are not affected in the context of the proposed regulation, the ECB recommends that any Member States’ concerns on euro coin issuance competences should be addressed between the concerned Member States and the Union in accordance with the principle of sincere cooperation under the Treaty on European Union.

The ECB considers it advisable to harmonise the terminology used throughout the proposed regulation. In particular, the terms ‘issue’ and ‘put/bring into circulation’ are not defined in the proposed regulation. Nevertheless, in its drafting proposals, the ECB leaves it to the Commission to decide on this linguistic issue.

The ECB suggests:

clarifying the current definition of euro circulation coins should be clarified and a separate definition for regular euro circulation coins should be added to avoid any ambiguity in relation to this terminology; stipulating that Member States shall take all appropriate measures to prevent discourage euro collector coins from being used as means of payments.

Lastly, the ECB reiterates its previous recommendation on modifying the technical specifications set out in Annex I to Regulation (EC) No 975/98 on denominations and technical specifications of euro coins intended for circulation. Amendments are as follows:

maintaining the national traditions of the Member States in relation to the issuance of commemorative euro circulation coins;

the ECB understands that Article 1h(a) of the Regulation covers euro circulation coins with legal tender status prior to the entry into force of the amending regulation, whereas Article 1h(b) sets a transitional period for changing the stamps for the designs on euro circulation coins in compliance with the new design requirements. In this respect, the ECB advises replacing the word ‘issued’ with the word ‘produced’ in Article 1h(a). This would extend the exclusion scope of this draft provision to also cover the stocks of euro circulation coins already minted by the competent authorities of the participating Member States but not having legal tender status at the time of entry into force of the proposed amending regulation. In that way, a legal safeguard would be established for all the costs that Eurosystem national central banks may have incurred in relation to the production of euro circulation coins that have not yet obtained the status of legal tender up to the moment of entry into force of the proposed amending regulation. The ECB also notes that euro circulation coins issued during the transition period under Article 1h(b) would keep their legal tender status even after the expiry of the transition period.

Documents
CON/2011/0065
OJ C 273 16.09.2011, p. 0002
2011/06/07
   EP - Committee referral announced in Parliament, 1st reading
2011/06/07
   EP - MARTIN Hans-Peter (NA) appointed as rapporteur in ECON
2011/05/25
   EC - Legislative proposal published
Details

PURPOSE: to introduce binding rules for the issuance of euro coins.

PROPOSED ACT: Regulation of the European Parliament and of the Council.

BACKGROUND: the Council conclusions of 23 November 1998 and of 5 November 2002 on euro coins intended for collection, the Commission Recommendation 2009/23/EC on common guidelines for the national sides and the issuance of euro coins intended for circulation, and the Commission Recommendation 2010/191/EU on the scope and effects of legal tender of euro banknotes and coins, provide for recommended practices regarding euro collector coins, the issuance of euro coins intended for circulation, including commemorative circulation coins, and consultation prior to the destruction of fit euro circulation coins.

The lack of mandatory provisions for issuance of euro coins may result in different practices among Member States and does not achieve a sufficiently integrated framework for the single currency. In the interest of legal transparency and certainty, it is therefore necessary to introduce binding rules for the issuance of euro coins.

IMPACT ASSESSMENT: no impact assessment was carried out.

LEGAL BASIS: Article 133 of the Treaty on the Functioning of the European Union (TFEU).

CONTENT: this proposed Regulation lays down rules on the issuance of euro circulation coins, including commemorative circulation coins, on the issuance of euro collector coins, and on consultation prior to the destruction of fit euro circulation coins.

The main elements of the proposal are as follows:

Apart from regular euro circulation coins, Member States may also issue commemorative euro circulation coins to celebrate specific subjects, subject to limits set per year and issuing Member State for the number of issues of such coins. The proposal establishes certain volume limits for commemorative circulation coins in order to ensure that such coins remain a minor percentage of the total number of the 2-euro coins in circulation. At the same time, these volume limits should allow for the issuance of a sufficient volume of coins to ensure that commemorative coins can circulate effectively. Member States should also be able to issue euro collector coins, which are not intended for circulation and which should be readily distinguishable from euro circulation coins. Euro collector coins should have legal tender status only in the Member State of issuance and should not be issued with a view to their entry into circulation. In order to ensure that euro collector coins are not confused with euro circulation coins they should be readily distinguishable from the latter. It is furthermore appropriate that issuances of euro collector coins are accounted for in the volume of coins to be approved by the European Central Bank (ECB), but on an aggregate basis rather than for each individual issue. It is appropriate and in line with common practice among participating Member States that euro circulation coins, including commemorative circulation coins, should be put into circulation at face value, although a minor proportion may be sold at a higher price if produced with a special quality or presented in special packaging. In order to avoid that fit euro circulation coins are destroyed by one Member State while there may be a need of such coins in another, Member States should consult each other prior to the destruction of such coins.

BUDGETARY IMPLICATIONS: the proposal has no implication for the Union budget.

Documents
COM(2011)0295
EUR-Lex

Documents

Activities

AmendmentsDossier
5 2011/0131(COD)
2011/10/31 ECON 5 amendments...
source: PE-475.845

History

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

2023-08-03Show (3) Changes | Timetravel
docs/5
date
2012-06-24T00:00:00
docs
url: https://connectfolx.europarl.europa.eu/connefof/app/exp/COM(2011)0295 title: COM(2011)0295
type
Contribution
body
AT_BUNDESRAT
docs/5
date
2012-06-25T00:00:00
docs
url: http://www.connefof.europarl.europa.eu/connefof/app/exp/COM(2011)0295 title: COM(2011)0295
type
Contribution
body
AT_BUNDESRAT
links/National parliaments/url
Old
http://www.ipex.eu/IPEXL-WEB/dossier/dossier.do?code=COD&year=2011&number=0131&appLng=EN
New
https://ipexl.europarl.europa.eu/IPEXL-WEB/dossier/code=COD&year=2011&number=0131&appLng=EN
2021-12-18Show (12) Changes | Timetravel
committees/0/shadows/4
name
HÄNDEL Thomas
group
European United Left - Nordic Green Left
abbr
GUE/NGL
docs/1/docs/0/url
Old
http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE473.801
New
https://www.europarl.europa.eu/doceo/document/ECON-PR-473801_EN.html
docs/2/docs/0/url
Old
http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE475.845
New
https://www.europarl.europa.eu/doceo/document/ECON-AM-475845_EN.html
events/0/docs/0/url
Old
http://www.europarl.europa.eu/RegData/docs_autres_institutions/commission_europeenne/com/2011/0295/COM_COM(2011)0295_EN.pdf
New
http://www.europarl.europa.eu/registre/docs_autres_institutions/commission_europeenne/com/2011/0295/COM_COM(2011)0295_EN.pdf
events/1/type
Old
Committee referral announced in Parliament, 1st reading/single reading
New
Committee referral announced in Parliament, 1st reading
events/2/type
Old
Vote in committee, 1st reading/single reading
New
Vote in committee, 1st reading
events/3
date
2011-12-07T00:00:00
type
Committee report tabled for plenary, 1st reading
body
EP
docs
url: https://www.europarl.europa.eu/doceo/document/A-7-2011-0439_EN.html title: A7-0439/2011
summary
events/3
date
2011-12-07T00:00:00
type
Committee report tabled for plenary, 1st reading/single reading
body
EP
docs
url: http://www.europarl.europa.eu/doceo/document/A-7-2011-0439_EN.html title: A7-0439/2011
summary
events/5
date
2012-05-22T00:00:00
type
Decision by Parliament, 1st reading
body
EP
docs
url: https://www.europarl.europa.eu/doceo/document/TA-7-2012-0210_EN.html title: T7-0210/2012
summary
events/5
date
2012-05-22T00:00:00
type
Decision by Parliament, 1st reading/single reading
body
EP
docs
url: http://www.europarl.europa.eu/doceo/document/TA-7-2012-0210_EN.html title: T7-0210/2012
summary
procedure/Modified legal basis
Rules of Procedure EP 150
procedure/Other legal basis
Rules of Procedure EP 159
2020-01-19Show (6) Changes | Timetravel
committees/0
type
Responsible Committee
body
EP
associated
False
committee_full
Economic and Monetary Affairs
committee
ECON
rapporteur
name: MARTIN Hans-Peter date: 2011-06-07T00:00:00 group: Non-attached Members abbr: NA
shadows
committees/0
type
Responsible Committee
body
EP
associated
False
committee_full
Economic and Monetary Affairs
committee
ECON
date
2011-06-07T00:00:00
rapporteur
name: MARTIN Hans-Peter group: Non-attached Members abbr: NA
shadows
docs/4/body
EC
events/0/docs/0/url
Old
http://www.europarl.europa.eu/registre/docs_autres_institutions/commission_europeenne/com/2011/0295/COM_COM(2011)0295_EN.pdf
New
http://www.europarl.europa.eu/RegData/docs_autres_institutions/commission_europeenne/com/2011/0295/COM_COM(2011)0295_EN.pdf
events/3/docs/0/url
Old
http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A7-2011-439&language=EN
New
http://www.europarl.europa.eu/doceo/document/A-7-2011-0439_EN.html
events/5/docs/0/url
Old
http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P7-TA-2012-210
New
http://www.europarl.europa.eu/doceo/document/TA-7-2012-0210_EN.html
2019-07-06Show (15) Changes | Timetravel
activities
  • date: 2011-05-25T00:00:00 docs: url: http://www.europarl.europa.eu/registre/docs_autres_institutions/commission_europeenne/com/2011/0295/COM_COM(2011)0295_EN.pdf title: COM(2011)0295 type: Legislative proposal published celexid: CELEX:52011PC0295:EN body: EC commission: DG: url: http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home title: Eurostat Commissioner: REHN Olli type: Legislative proposal published
  • date: 2011-06-07T00:00:00 body: EP type: Committee referral announced in Parliament, 1st reading/single reading committees: body: EP shadows: group: PPE name: GAUZÈS Jean-Paul group: S&D name: PADAR Ivari group: ALDE name: IN 'T VELD Sophia group: Verts/ALE name: GIEGOLD Sven group: GUE/NGL name: HÄNDEL Thomas responsible: True committee: ECON date: 2011-06-07T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: NI name: MARTIN Hans-Peter
  • date: 2011-11-29T00:00:00 body: EP type: Vote in committee, 1st reading/single reading committees: body: EP shadows: group: PPE name: GAUZÈS Jean-Paul group: S&D name: PADAR Ivari group: ALDE name: IN 'T VELD Sophia group: Verts/ALE name: GIEGOLD Sven group: GUE/NGL name: HÄNDEL Thomas responsible: True committee: ECON date: 2011-06-07T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: NI name: MARTIN Hans-Peter
  • body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A7-2011-439&language=EN type: Committee report tabled for plenary, 1st reading/single reading title: A7-0439/2011 type: Committee report tabled for plenary, 1st reading/single reading committees: body: EP shadows: group: PPE name: GAUZÈS Jean-Paul group: S&D name: PADAR Ivari group: ALDE name: IN 'T VELD Sophia group: Verts/ALE name: GIEGOLD Sven group: GUE/NGL name: HÄNDEL Thomas responsible: True committee: ECON date: 2011-06-07T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: NI name: MARTIN Hans-Peter date: 2011-12-07T00:00:00
  • date: 2012-05-22T00:00:00 docs: url: http://www.europarl.europa.eu/oeil/popups/sda.do?id=20952&l=en type: Results of vote in Parliament title: Results of vote in Parliament url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P7-TA-2012-210 type: Decision by Parliament, 1st reading/single reading title: T7-0210/2012 body: EP type: Results of vote in Parliament
  • date: 2012-06-26T00:00:00 body: CSL type: Council Meeting council: General Affairs meeting_id: 3180
  • date: 2012-06-26T00:00:00 body: EP/CSL type: Act adopted by Council after Parliament's 1st reading
  • date: 2012-07-04T00:00:00 body: CSL type: Final act signed
  • date: 2012-07-04T00:00:00 body: EP type: End of procedure in Parliament
  • date: 2012-07-27T00:00:00 type: Final act published in Official Journal docs: url: http://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32012R0651 title: Regulation 2012/651 url: http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:2012:201:TOC title: OJ L 201 27.07.2012, p. 0135
commission
  • body: EC dg: Eurostat commissioner: REHN Olli
committees/0
type
Responsible Committee
body
EP
associated
False
committee_full
Economic and Monetary Affairs
committee
ECON
date
2011-06-07T00:00:00
rapporteur
name: MARTIN Hans-Peter group: Non-attached Members abbr: NA
shadows
committees/0
body
EP
shadows
responsible
True
committee
ECON
date
2011-06-07T00:00:00
committee_full
Economic and Monetary Affairs
rapporteur
group: NI name: MARTIN Hans-Peter
council
  • body: CSL type: Council Meeting council: General Affairs meeting_id: 3180 url: http://register.consilium.europa.eu/content/out?lang=EN&typ=SET&i=SMPL&ROWSPP=25&RESULTSET=1&NRROWS=500&DOC_LANCD=EN&ORDERBY=DOC_DATE+DESC&CONTENTS=3180*&MEET_DATE=26/06/2012 date: 2012-06-26T00:00:00
docs
  • date: 2011-08-23T00:00:00 docs: url: https://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CELEX:52011AB0065:EN:NOT title: CON/2011/0065 url: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:C:2011:273:TOC title: OJ C 273 16.09.2011, p. 0002 summary: OPINION OF THE EUROPEAN CENTRAL BANK on a proposal for a Regulation on the issuance of euro coins and on a proposal for a Regulation on denominations and technical specifications of euro coins intended for circulation. On 28 June 2011, the European Central Bank (ECB) received a request from the European Parliament for an opinion on a proposal for a Regulation of the European Parliament and of the Council on the issuance of euro coins. On 5 July 2011, the ECB received two further requests from the Council of the European Union for an opinion on: (a) the proposed regulation; and (b) a proposal for a Council Regulation amending Regulation (EC) No 975/98 of 3 May 1998 on denominations and technical specifications of euro coins intended for circulation. The ECB understands that: (i) the proposed regulation is intended to codify the current Union non-binding legal instruments and conclusions regarding the issuance of euro coins; (ii) in laying down general provisions for the issuance of euro coins at Union level, the objective is to harmonise relevant practices among Member States and ensure legal certainty and transparency. The ECB makes the following remarks: The ECB notes that according to Article 128(2) of the TFEU , the issuance of euro coins is the responsibility of the participating Member States, whilst the Parliament and the Council have the competence to lay down the measures necessary for the use of the euro as the single currency pursuant to Article 133 of the TFEU. In addition, the Council may, according to Article 128(2) of the TFEU, adopt measures to harmonise the denominations and technical specifications of all coins intended for circulation to the extent necessary to permit their smooth circulation within the Union. Hence, the adoption of Union legislation on euro coin issuance must respect the participating Member States’ competence to issue euro coins and their capacity as legal issuers of euro coins . In addition, while the ECB’s tasks and responsibilities under the TFEU and the Statute of the European System of Central Banks and of the European Central Bank are not affected in the context of the proposed regulation, the ECB recommends that any Member States’ concerns on euro coin issuance competences should be addressed between the concerned Member States and the Union in accordance with the principle of sincere cooperation under the Treaty on European Union. The ECB considers it advisable to harmonise the terminology used throughout the proposed regulation. In particular, the terms ‘issue’ and ‘put/bring into circulation’ are not defined in the proposed regulation. Nevertheless, in its drafting proposals, the ECB leaves it to the Commission to decide on this linguistic issue. The ECB suggests: clarifying the current definition of euro circulation coins should be clarified and a separate definition for regular euro circulation coins should be added to avoid any ambiguity in relation to this terminology; stipulating that Member States shall take all appropriate measures to prevent discourage euro collector coins from being used as means of payments. Lastly, the ECB reiterates its previous recommendation on modifying the technical specifications set out in Annex I to Regulation (EC) No 975/98 on denominations and technical specifications of euro coins intended for circulation. Amendments are as follows: maintaining the national traditions of the Member States in relation to the issuance of commemorative euro circulation coins; the ECB understands that Article 1h(a) of the Regulation covers euro circulation coins with legal tender status prior to the entry into force of the amending regulation, whereas Article 1h(b) sets a transitional period for changing the stamps for the designs on euro circulation coins in compliance with the new design requirements. In this respect, the ECB advises replacing the word ‘issued’ with the word ‘produced’ in Article 1h(a). This would extend the exclusion scope of this draft provision to also cover the stocks of euro circulation coins already minted by the competent authorities of the participating Member States but not having legal tender status at the time of entry into force of the proposed amending regulation. In that way, a legal safeguard would be established for all the costs that Eurosystem national central banks may have incurred in relation to the production of euro circulation coins that have not yet obtained the status of legal tender up to the moment of entry into force of the proposed amending regulation. The ECB also notes that euro circulation coins issued during the transition period under Article 1h(b) would keep their legal tender status even after the expiry of the transition period. type: European Central Bank: opinion, guideline, report body: ECB
  • date: 2011-10-06T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE473.801 title: PE473.801 type: Committee draft report body: EP
  • date: 2011-10-31T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE475.845 title: PE475.845 type: Amendments tabled in committee body: EP
  • date: 2012-06-04T00:00:00 docs: url: http://register.consilium.europa.eu/content/out?lang=EN&typ=SET&i=ADV&RESULTSET=1&DOC_ID=[%n4]%2F12&DOC_LANCD=EN&ROWSPP=25&NRROWS=500&ORDERBY=DOC_DATE+DESC title: 00023/2012/LEX type: Draft final act body: CSL
  • date: 2012-06-27T00:00:00 docs: url: /oeil/spdoc.do?i=20952&j=0&l=en title: SP(2012)488 type: Commission response to text adopted in plenary
  • date: 2012-06-25T00:00:00 docs: url: http://www.connefof.europarl.europa.eu/connefof/app/exp/COM(2011)0295 title: COM(2011)0295 type: Contribution body: AT_BUNDESRAT
events
  • date: 2011-05-25T00:00:00 type: Legislative proposal published body: EC docs: url: http://www.europarl.europa.eu/registre/docs_autres_institutions/commission_europeenne/com/2011/0295/COM_COM(2011)0295_EN.pdf title: COM(2011)0295 url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!DocNumber&lg=EN&type_doc=COMfinal&an_doc=2011&nu_doc=295 title: EUR-Lex summary: PURPOSE: to introduce binding rules for the issuance of euro coins. PROPOSED ACT: Regulation of the European Parliament and of the Council. BACKGROUND: the Council conclusions of 23 November 1998 and of 5 November 2002 on euro coins intended for collection, the Commission Recommendation 2009/23/EC on common guidelines for the national sides and the issuance of euro coins intended for circulation, and the Commission Recommendation 2010/191/EU on the scope and effects of legal tender of euro banknotes and coins, provide for recommended practices regarding euro collector coins, the issuance of euro coins intended for circulation, including commemorative circulation coins, and consultation prior to the destruction of fit euro circulation coins. The lack of mandatory provisions for issuance of euro coins may result in different practices among Member States and does not achieve a sufficiently integrated framework for the single currency. In the interest of legal transparency and certainty, it is therefore necessary to introduce binding rules for the issuance of euro coins. IMPACT ASSESSMENT: no impact assessment was carried out. LEGAL BASIS: Article 133 of the Treaty on the Functioning of the European Union (TFEU). CONTENT: this proposed Regulation lays down rules on the issuance of euro circulation coins, including commemorative circulation coins, on the issuance of euro collector coins, and on consultation prior to the destruction of fit euro circulation coins. The main elements of the proposal are as follows: Apart from regular euro circulation coins, Member States may also issue commemorative euro circulation coins to celebrate specific subjects, subject to limits set per year and issuing Member State for the number of issues of such coins. The proposal establishes certain volume limits for commemorative circulation coins in order to ensure that such coins remain a minor percentage of the total number of the 2-euro coins in circulation. At the same time, these volume limits should allow for the issuance of a sufficient volume of coins to ensure that commemorative coins can circulate effectively. Member States should also be able to issue euro collector coins, which are not intended for circulation and which should be readily distinguishable from euro circulation coins. Euro collector coins should have legal tender status only in the Member State of issuance and should not be issued with a view to their entry into circulation. In order to ensure that euro collector coins are not confused with euro circulation coins they should be readily distinguishable from the latter. It is furthermore appropriate that issuances of euro collector coins are accounted for in the volume of coins to be approved by the European Central Bank (ECB), but on an aggregate basis rather than for each individual issue. It is appropriate and in line with common practice among participating Member States that euro circulation coins, including commemorative circulation coins, should be put into circulation at face value, although a minor proportion may be sold at a higher price if produced with a special quality or presented in special packaging. In order to avoid that fit euro circulation coins are destroyed by one Member State while there may be a need of such coins in another, Member States should consult each other prior to the destruction of such coins. BUDGETARY IMPLICATIONS: the proposal has no implication for the Union budget.
  • date: 2011-06-07T00:00:00 type: Committee referral announced in Parliament, 1st reading/single reading body: EP
  • date: 2011-11-29T00:00:00 type: Vote in committee, 1st reading/single reading body: EP
  • date: 2011-12-07T00:00:00 type: Committee report tabled for plenary, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A7-2011-439&language=EN title: A7-0439/2011 summary: The Committee on Economic and Monetary Affairs adopted the report by Hans-Peter MARTIN (NI, AT) on the proposal for a regulation of the European Parliament and of the Council on the issuance of euro coins. The committee recommends that the position of the European Parliament in first reading following the ordinary legislative procedure should be to amend the Commission proposal, as follows: Definition: Members consider that the current definition of euro circulation coins should be clarified and a separate definition for regular euro circulation coins should be added to avoid any ambiguity in relation to this terminology. "Euro circulation coins " is defined as regular euro circulation coins and commemorative euro circulation coins, intended for circulation, whose denominations and technical specifications are laid down in Council Regulation (EC) No 975/98. A definition of “regular euro circulation coins” is inserted, meaning euro coins intended for circulation excluding commemorative euro circulation coins. The definition of "Euro collector coins" is deleted, since the amended definition of ‘euro circulation coins’ explicitly comprises the commemorative euro coins intended for circulation. Impact assessments : the committee states the Commission shall conduct impact assessments on: · the continued issuance of 1 and 2 cent coins. That impact assessment shall include a cost-benefit analysis which takes into account the real production costs of 1 and 2 cent coins set against their value and benefits; · on the possible issuance of EUR 1 and EUR banknotes. Following this impact, the Commission shall draft a report setting out the advantages and disadvantages of issuing EUR 1 and EUR 2 banknotes. Issuance of commemorative euro circulation coins: each participating Member State may only issue one commemorative euro circulation coin every six months, (rather than every year.) Issuance of euro collector coins : Members state that Euro collector coins may be sold at or above face value, which reflects the agreement of Member States reached at the Ecofin Council meeting on 5 November 2002, allowing the sale of euro collector coins above face value. Consultation prior to the destruction of euro circulation coins : the report specifies that Member State shall indicate which type of coin (euro circulation coin, euro collector coin or euro commemorative coin) is to be destroyed as this will directly affect the ceilings established in the provisions on issuance of commemorative euro circulation coins.
  • date: 2012-05-22T00:00:00 type: Results of vote in Parliament body: EP docs: url: https://oeil.secure.europarl.europa.eu/oeil/popups/sda.do?id=20952&l=en title: Results of vote in Parliament
  • date: 2012-05-22T00:00:00 type: Decision by Parliament, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P7-TA-2012-210 title: T7-0210/2012 summary: The European Parliament adopted by 612 votes to 28 with 16 abstentions, a legislative resolution on the proposal for a regulation of the European Parliament and of the Council on the issuance of euro coins. Parliament adopted its position in first reading following the ordinary legislative procedure. The amendments adopted in plenary are the result of a compromise between Parliament and Council. They amend the Commission proposal as follows: Collector coins: collector coins shall have the status of legal tender only in the issuing Member State and are not issued with a view to their entry into circulation . If their images are similar to any national side of circulation coins, their overall appearance can still be easily differentiated. Member States shall take all appropriate measures to discourage the use of collector coins as a means of payment. Types of euro coin: the Commission shall conduct an impact assessment on the continued issuance of 1 and 2 cent coins. That impact assessment shall include a cost-benefit analysis which takes into account the real production costs of those coins set against their value and benefits. Issuance of circulation coins : the amended text states that circulation coins shall be issued and put into circulation at face value. A minor proportion, not exceeding 5 % of the cumulated total net value and volume of circulation coins issued by a Member State, taking into account only years with positive net issuance, may be put on the market above face value if justified by the special quality of the coin, a special packaging or any additional services provided. Issuance of commemorative coins : each Member State whose currency is the euro may only issue two commemorative coins per year , save where, for example commemorative coins are collectively issued by all Member States whose currency is the euro. The total number of commemorative coins put into circulation for each individual issue shall not exceed the higher of the following two ceilings : · 1% of the cumulated total net number of 2-euro coins put into circulation by all Member States whose currency is the euro up to the beginning of the year preceding the year of issuance of the commemorative coin; this ceiling may be raised to 2,0 % of the cumulated total net number of EUR 2 coins of all Member States whose currency is the euro if a widely recognised and highly symbolic subject is commemorated, in which case the issuing Member State shall refrain from launching another commemorative coin issue using the raised ceiling during the subsequent four years and shall set out the reasons for choosing the raised ceiling; or · 5.0 % of the cumulated total net number of EUR 2 coins put into circulation by the Member State concerned up to the beginning of the year preceding the year of issuance of the commemorative coin. The decision whether to issue commemorative coins with a common design collectively issued by all Member States whose currency is the euro shall be taken by the Council. The voting rights of the Member States whose currency is not the euro shall be suspended for the adoption of that decision.
  • date: 2012-06-26T00:00:00 type: Act adopted by Council after Parliament's 1st reading body: EP/CSL
  • date: 2012-07-04T00:00:00 type: Final act signed body: CSL
  • date: 2012-07-04T00:00:00 type: End of procedure in Parliament body: EP
  • date: 2012-07-27T00:00:00 type: Final act published in Official Journal summary: PURPOSE: to introduce binding rules for the issuance of euro coins. LEGISLATIVE ACT: Regulation (EU) No. 651/2012 of the European Parliament and of the Council on the issuance of euro coins. CONTENT: following an agreement reached with the European Parliament in first reading, the Council adopted a Regulation that introduces binding rules for the issuance of euro coins for circulation, and for commemorative and collection purposes. The Regulation stipulates: circulation coins, for the most part, shall be issued and put into circulation at face value; each Member State whose currency is the euro may only issue two commemorative 2-euro coins per year to commemorate special occasions; collector coins shall have the status of legal tender only in the issuing Member State . The identity of the issuing Member State shall be clearly and easily recognisable on the coin; the Commission shall conduct an impact assessment on the continued issuance of 1- and 2-cent coins; in order to avoid that fit euro circulation coins are destroyed by one Member State while there may be a need of such coins in another, Member States should consult each other prior to the destruction of such coins. ENTRY INTO FORCE: 13/08/2012. docs: title: Regulation 2012/651 url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32012R0651 title: OJ L 201 27.07.2012, p. 0135 url: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:2012:201:TOC
other
  • body: EC dg: url: http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home title: Eurostat commissioner: REHN Olli
otherinst
  • name: European Central Bank
procedure/Mandatory consultation of other institutions
European Central Bank
procedure/Modified legal basis
Old
Rules of Procedure of the European Parliament EP 150
New
Rules of Procedure EP 150
procedure/dossier_of_the_committee
Old
ECON/7/06104
New
  • ECON/7/06104
procedure/final/url
Old
http://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32012R0651
New
https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32012R0651
procedure/other_consulted_institutions
European Central Bank
procedure/subject
Old
  • 5.20.02 Single currency, euro, euro area
New
5.20.02
Single currency, euro, euro area
2015-11-04Show (1) Changes | Timetravel
activities/0/docs/0/celexid
CELEX:52011PC0295:EN
2015-11-04Show (2) Changes | Timetravel
activities/0/docs/0/celexid
CELEX:52011PC0295:EN
links/European Commission/title
Old
PreLex
New
EUR-Lex
2015-01-08Show (4) Changes | Timetravel
activities/1/committees/0/shadows/2/mepref
Old
545fc318d1d1c57f99000000
New
4f1ac934b819f25efd00011a
activities/2/committees/0/shadows/2/mepref
Old
545fc318d1d1c57f99000000
New
4f1ac934b819f25efd00011a
activities/3/committees/0/shadows/2/mepref
Old
545fc318d1d1c57f99000000
New
4f1ac934b819f25efd00011a
committees/0/shadows/2/mepref
Old
545fc318d1d1c57f99000000
New
4f1ac934b819f25efd00011a
2014-11-09Show (5) Changes
activities
  • date: 2011-05-25T00:00:00 docs: url: http://www.europarl.europa.eu/registre/docs_autres_institutions/commission_europeenne/com/2011/0295/COM_COM(2011)0295_EN.pdf celexid: CELEX:52011PC0295:EN type: Legislative proposal published title: COM(2011)0295 body: EC commission: DG: url: http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home title: Eurostat Commissioner: REHN Olli type: Legislative proposal published
  • date: 2011-06-07T00:00:00 body: EP type: Committee referral announced in Parliament, 1st reading/single reading committees: body: EP shadows: group: PPE name: GAUZÈS Jean-Paul group: S&D name: PADAR Ivari group: ALDE name: IN 'T VELD Sophia group: Verts/ALE name: GIEGOLD Sven group: GUE/NGL name: HÄNDEL Thomas responsible: True committee: ECON date: 2011-06-07T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: NI name: MARTIN Hans-Peter
  • date: 2011-11-29T00:00:00 body: EP type: Vote in committee, 1st reading/single reading committees: body: EP shadows: group: PPE name: GAUZÈS Jean-Paul group: S&D name: PADAR Ivari group: ALDE name: IN 'T VELD Sophia group: Verts/ALE name: GIEGOLD Sven group: GUE/NGL name: HÄNDEL Thomas responsible: True committee: ECON date: 2011-06-07T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: NI name: MARTIN Hans-Peter
  • body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A7-2011-439&language=EN type: Committee report tabled for plenary, 1st reading/single reading title: A7-0439/2011 type: Committee report tabled for plenary, 1st reading/single reading committees: body: EP shadows: group: PPE name: GAUZÈS Jean-Paul group: S&D name: PADAR Ivari group: ALDE name: IN 'T VELD Sophia group: Verts/ALE name: GIEGOLD Sven group: GUE/NGL name: HÄNDEL Thomas responsible: True committee: ECON date: 2011-06-07T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: NI name: MARTIN Hans-Peter date: 2011-12-07T00:00:00
  • date: 2012-05-22T00:00:00 docs: url: http://www.europarl.europa.eu/oeil/popups/sda.do?id=20952&l=en type: Results of vote in Parliament title: Results of vote in Parliament url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P7-TA-2012-210 type: Decision by Parliament, 1st reading/single reading title: T7-0210/2012 body: EP type: Results of vote in Parliament
  • date: 2012-06-26T00:00:00 body: CSL type: Council Meeting council: General Affairs meeting_id: 3180
  • date: 2012-06-26T00:00:00 body: EP/CSL type: Act adopted by Council after Parliament's 1st reading
  • date: 2012-07-04T00:00:00 body: CSL type: Final act signed
  • date: 2012-07-04T00:00:00 body: EP type: End of procedure in Parliament
  • date: 2012-07-27T00:00:00 type: Final act published in Official Journal docs: url: http://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32012R0651 title: Regulation 2012/651 url: http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:2012:201:TOC title: OJ L 201 27.07.2012, p. 0135
committees
  • body: EP shadows: group: PPE name: GAUZÈS Jean-Paul group: S&D name: PADAR Ivari group: ALDE name: IN 'T VELD Sophia group: Verts/ALE name: GIEGOLD Sven group: GUE/NGL name: HÄNDEL Thomas responsible: True committee: ECON date: 2011-06-07T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: NI name: MARTIN Hans-Peter
links
National parliaments
European Commission
other
  • body: EC dg: url: http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home title: Eurostat commissioner: REHN Olli
procedure
dossier_of_the_committee
ECON/7/06104
Mandatory consultation of other institutions
European Central Bank
reference
2011/0131(COD)
instrument
Regulation
legal_basis
Treaty on the Functioning of the EU TFEU 133
stage_reached
Procedure completed
subtype
Legislation
Modified legal basis
Rules of Procedure of the European Parliament EP 150
title
Issuance of euro coins
type
COD - Ordinary legislative procedure (ex-codecision procedure)
final
subject
5.20.02 Single currency, euro, euro area
@parltrack
@parltrack@eupolicy.social
[javascript protected email address]
code AGPLv3.0+
data ODBLv1.0
site content CC-By-Sa-3.0

ParlTrack - 2011-2024

© European Union, 2011 – Source: European Parliament
Hosted by AS250.net Foundation