Mr President, I have here an illustration on the subject of my report that I would like to be distributed to all those present. I would be grateful if you would instruct that this be done. I would like to begin my intervention by thanking Commissioner Pedro Solbes Mira for being here today in the Chamber. I was told that the Commissioner had prior engagements, a meeting with the Central Banks, but that when he was told this debate was to take place at the same time, he chose to be here in Parliament today. I would like to acknowledge his choice and to thank him. Mr President, Commissioner, ladies and gentlemen, the scope of this report is the duration of the transitional period of the euro. On my proposal, the Committee on Economic and Monetary Affairs agreed to broaden its scope as the subject that had been proposed had, in the meantime, been superseded by various events, one of which was the European Parliament’s own electoral process. Now, we have other real problems. The more hearings I have attended and the more reports I have read on these matters, the more convinced I am that the general tendency is, on the one hand, towards a drastic curtailing of the transitional period for the dual circulation of national currency units and euros and, on the other, towards having a frontloading period which it is anticipated will start from 1 December 2001. The more we look into this problem and the more we talk to those directly involved – consumers and retailers – the more we see that the predominant idea is that the longer the period of dual circulation, the more complicated things will be. The idea that ‘extending the transitional period will make things easier’ is finding fewer and fewer supporters. The illustration that I asked to be distributed gives a better explanation than many arguments can of the difficulties that we may have to face. Accepting as we do that the transitional period should last until 1 January 2002, it is now important to raise the other problems, the proper resolution of which is of great importance to the credibility of the euro that we all wish to see. Therefore, in this report, Mr President, Commissioner, only maximum periods are referred to and preference is given to periods which are as short as possible so that all scenarios might be viable, even the legal ‘big bang’ if, by 2002, this is accepted as the best solution. Our main proposals are: - firstly, a period of dual circulation of national currency units and euros which is as short as possible; - secondly, a period of advance feeding or “frontloading” to banks, retailers, public administrations and consumers from 1 December 2001; - thirdly, to set prices in euros with their equivalent in the national currency, preferably by 1 January 2001; - fourthly, information campaigns of increasing intensity until 2002, particularly for the most vulnerable groups, through systematic action together with the education system, NGOs and the media in general; particularly prime time television, television news broadcasts and sports programmes with high viewing figures; - fifthly, the increased use of electronic money, credit and debit cards and the creation of an electronic card or purse which can be used throughout the euro zone as soon as is technically possible and that its use is widespread enough for the cost to be minimal; - sixthly, the adaptation of vending machines for the use of charge cards until 2002 which will enable them, as far as possible, to work with coins and notes; - seventhly, the creation, to be postponed until 2002 at the latest, of an integrated payment system which will enable us to transform the euro zone into a market with the same rules as domestic markets. Mr President, each one of the issues addressed in this report requires more detailed and deeper examination, as their application needs to be completely secure, clear and fully accepted by our citizens. We therefore hope that the Commission will introduce the measures that it feels must be adopted in this area. On account of its implications for the lives of our citizens, this issue must be closely supported by the European Parliament, the direct representative of the electors. I hope that the Commission, the Council and the European Central Bank only take decisions that are fundamental to this issue, having consulted us first.

Political group: PSE