MONETARY AGREEMENT  
between the European Union and the French Republic on keeping the euro in Saint-Barthélemy 
following the amendment of its status with regard to the European Union  
THE EUROPEAN UNION, represented by the European Commission,  
and 
THE FRENCH REPUBLIC, acting for the benefit of the island of Saint-Barthélemy,  
Whereas:  
(1) Saint-Barthélemy is an integral part of the French Republic but will no longer be part of the European Union as 
from 1 January 2012, in accordance with European Council Decision 2010/718/EU of 29 October 2010 
amending the status with regard to the European Union of the island of Saint-Barthélemy (  1 ); 
(2) The French Republic would like Saint-Barthélemy to retain the same currency as that of metropolitan France and 
to this end will continue to grant exclusive legal tender status in the territory of Saint-Barthélemy to euro 
banknotes and coins issued by the Eurosystem and the Member States that have adopted the euro;  
(3) It is necessary to ensure the continuing application in Saint-Barthélemy of existing and future provisions of 
European Union law necessary for the functioning of the Economic and Monetary Union, in order, in particular, 
to ensure the unity of the Eurosystem’s monetary policy, equalise conditions of competition between financial 
institutions located in the euro area and prevent fraud and counterfeiting of cash and non-cash means of payment 
and money laundering;  
(4) This Agreement is concluded with a Member State acting for the benefit of a non-sovereign entity and, therefore, 
does not provide for the right to mint coinage. Currency issues and banking and financial law fall within the field 
of competence of the French State. In matters related to the proper functioning of the Economic and Monetary 
Union, the legislative and statutory provisions of French law apply automatically to Saint-Barthélemy by virtue of 
its status,  
HAVE AGREED ON THE FOLLOWING PROVISIONS:  
Article 1  
The euro shall remain the currency of Saint-Barthélemy.  
Article 2  
The French Republic shall continue to grant legal tender status 
to euro-denominated banknotes and coins in Saint-Barthélemy.  
Article 3  
1. The French Republic shall continue to apply in Saint- 
Barthélemy the European Union legal acts and rules necessary 
for the functioning of the Economic and Monetary Union in the 
following fields:  
(a) euro banknotes and coins;  
(b) preventing fraud and counterfeiting of cash and non-cash 
means of payment;  
(c) medals and tokens;  (d) measures necessary for the use of the euro as a single 
currency adopted on the basis of Article 133 of the 
Treaty on the Functioning of the European Union;  
(e) banking and financial legislation, including the legal acts 
adopted by the European Central Bank;  
(f) preventing money laundering;  
(g) statistical reporting requirements established by the Euro ­
system.  
2. The French Republic shall undertake to cooperate fully 
with Europol in the territory of Saint-Barthélemy as regards 
the prevention of fraud and counterfeiting of means of 
payment and preventing and combating money laundering.  
Article 4  
The measures taken by the competent French authorities to 
transpose the acts adopted by the European Union — 
including those of the European Central Bank — in the fields 
mentioned in Article 3(1) shall apply automatically and under 
the same conditions in Saint-Barthélemy.EN 20.7.2011 Official Journal of the European Union L 189/3  
( 1 ) OJ L 325, 9.12.2010, p. 4.
Article 5  
Those European Union acts adopted in the fields mentioned in 
Article 3(1) — including those of the European Central Bank — 
that are directly applicable in the Member States shall apply 
automatically and under the same conditions in Saint- 
Barthélemy.  
Article 6  
Credit institutions and, as applicable, other financial institutions 
authorised to carry out operations in Saint-Barthélemy shall 
have access to interbank settlement and payment systems and 
to securities settlement systems in the euro area under the same 
conditions as those applied to institutions located in metro ­
politan France.  
Article 7  
Every two years the French Republic shall present a report to 
the Commission and the European Central Bank on the appli ­
cation in Saint-Barthélemy of the European Union legal acts and 
rules covered by this Agreement. The report includes, in 
particular, a list of the directly applicable European Union 
acts, including those of the European Central Bank, that apply 
automatically to Saint-Barthélemy by virtue of Article 5. The 
first report will be communicated by the end of 2012.  
Article 8  
1. A joint committee shall be convened when needed. It shall 
be chaired by the Commission and composed of representatives 
of the European Union and of the French Republic.  
2. The European Union delegation shall be headed by the 
Commission and include representatives of the European 
Central Bank.  
3. The joint committee shall meet at the request of one of 
the members of the delegation of the European Union or of the 
French Republic in order to examine any problems that might 
arise from the application of this Agreement.  Article 9  
The Court of Justice of the European Union shall have exclusive 
competence for settling any dispute between the parties that 
may arise from the application of this Agreement and that 
has not been settled within the joint committee.  
Article 10  
The European Union or the French Republic may terminate this 
Agreement subject to one year’s notice.  
Article 11  
This Agreement shall enter into force on 1 January 2012 after 
the parties have notified each other of the completion of their 
own ratification procedures.  
Article 12  
This Agreement is drawn up in duplicate in English and French, 
both texts being equally authentic.  
Done at Brussels on the twelfth day of July in the year two 
thousand and eleven.  
For the European Union,
  For the French Republic,
EN L 189/4 Official Journal of the European Union 20.7.2011