EN    EN  COMMISSION OF THE E UROPEAN COMMUNITIES 
Brussels, 12.12.2008 
SEC(2008) 3014 
  
COMMISSION STAFF WORKING DOCUMENT 
Annex to the 
COMMUNICATION FROM THE COMMISSI ON TO THE COUNCIL, THE 
EUROPEAN PARLIAMENT, THE EU ROPEAN ECONOMIC AND SOCIAL 
COMMITTEE, THE COMMITTEE OF THE REGIONS AND THE EUROPEAN 
CENTRAL BANK 
Eighth Report on the practical preparations for the future enlargement of the euro area 
 
{COM(2008) 843 final}  
 
EN 2   EN COMMISSION STAFF WORKING DOCUMENT 
Annex to the 
COMMUNICATION FROM THE COMMISSI ON TO THE COUNCIL, THE 
EUROPEAN PARLIAMENT, THE EU ROPEAN ECONOMIC AND SOCIAL 
COMMITTEE, THE COMMITTEE OF THE REGIONS AND THE EUROPEAN 
CENTRAL BANK 
  
Eighth Report on the practical preparations for the future enlargement of the euro area 
1. 
INTRODUCTION  
This Working Paper is attached to the Eight Commission Report on the practical preparations 
for the future enlargement of the euro area. It  provides information on the state of practical 
preparations for the changeover in the EU Member states whic h yet have to adopt the euro. 
The main part of this document summarises the situation in each of the countries concerned. 
Annex 1 provides on overview on how the countri es concerned respect the provisions of the 
Commission Recommendation of 10 January 2008 on measures to facilitate future 
changeovers to the euro (2008/78/EC) built on th e experience acquired in the course of the 
introduction of euro cash in 2002, 2007 and 2008. Finally, Annex 2 gives a synoptic overview 
of the state of the national changeover preparations.  
The preparations in Slovakia which will in troduce the euro on 1 January 2009 are addressed 
in detail in the main text of the Commission' s Eight Report on the prac tical preparations for 
the future enlargement of the euro area1.  
2. PREPARATIONS AT NATIONAL LEVEL  
2.1. Bulgaria 
Bulgaria has not set a target date for the adop tion of the euro. The practical preparations for 
the introduction of the euro  have not yet started.   
2.2. Czech Republic 
The first version of the National Euro Ch angeover Plan was a dopted on 11 April 2007. 
Although the Plan does not set a target date for the euro adop tion, it specifies the basic 
principles for the changeover in the Czech Repub lic and lists the preparatory tasks which can 
be carried out even in the absence of the target date.  
                                                 
1 Seven previous reports on this subject were published between November 2004 and July 2008. See: 
COM(2004)748 of 10 November 2004; COM(2005)545 of 4 November 2005; COM(2006)322 of 22 
June 2006; COM(2006)671 of 10 November 2006; COM(2007)434 of 16 July 2007; COM(2007)756 of 
27 November 2007, COM(2008)480 of 18 July 2008.  
 
EN 3   EN A progress report on the fulfilment of the Na tional Changeover Plan was adopted by the 
Government of the Czech Republic on 9 April 2008. The document provides an overview of the practical preparations for the change over which were carried out by the National 
Coordination Group for the Introduction of the Euro in 2007 (e.g.  the publication of 
guidelines on rounding and smoothi ng of prices, the adoption of the timetable and guidelines 
for the 'umbrella law', an evaluation of budge tary costs due to smoothing of payments 
to/receipts from citizens). The Report also provides a list of priorities for 2008-2009. The main ones are: elaborating the details of c onsumer protection measures for the changeover 
period (such as the dual display of prices, the Et hical Code, the Black list and the statistical 
price monitoring) and developing  manuals for facilitating the preparations of SMEs for the 
currency changeover. Some of th ese tasks have been accomplished while the others are still 
under preparation. The next progress report shoul d be discussed by the government in January 
2009. 
There is also an ongoing debate on the proced ure for adapting the legi slation to the euro 
which should be used in the Czech Republic. The government should decide in April 2009 whether to use an 'umbrella law' or revise  all affected legislative texts individually. 
The national information website on the changeover to the euro ( www.zavedenieura.cz
) has 
been created and introduced to the general publ ic on 1st March 2008. It provides euro related 
information for different sections of the popul ation (general public, consumers, businesses, 
students, media and administrations). 
2.3. Estonia 
The first version of the Euro Adoption Plan was approved by the Estonian government on 
1 September 2005. The latest (i.e. sixth) update was adopted on 29 November 2007. The 
National Communication Strategy was endorse d by the National Changeover Committee on 
21 June 2005 and updated on 18 May 2006. The website www.euro.eesti.ee  was launched in 
January 2006. The European Commission prol onged in February 2008 its Partnership 
Agreement with Estonia for the communication on the euro. 
2.4. Latvia 
Although Latvia dropped a reference to a specific target date for the introduction of the euro 
in the September 2007 update of the Nation al Euro Changeover Plan, the practical 
preparations are actively continuing. 
On 16 September 2008, the government approve d the 10th Report of the Euro Project 
Steering Committee on the activities carried ou t between 1 February 2008 and 31 July 2008. 
During this period, the Public  Administration Working Group discussed the methodology for 
the adaptation of Latvian legal system to the euro and the experience of other euro area 
Member states. The Cash and Payment System s Working Group dealt w ith issues regarding 
the membership in SEPA and development of contingency plan and st arted to prepare the 
inclusion of these tasks into the National Euro Changeover Plan. As a result of the discussion 
with stakeholders, the Steering Committee decided to integrate into the National Euro Changeover Plan a couple of measures r ecommended by the Commission’s Recommendation 
of 10 January 2008 on measures to facilitate th e future changeovers to the euro (e.g. the 
provision of starter kits and mini kits etc.).  
 
EN 4   EN The Public Awareness and Communication Worki ng Group launched the update of the Euro 
Communication Strategy and the developm ent of a corresponding communication plan. 
Experiences of other countries were studied during bilateral meetings with experts from 
Malta, Cyprus and Slovakia. More in dept h information is gathered via a Twinning 
Programme between the Latvian authorities and the Belgian National Bank, supported by the 
Commission. 
2.5. Lithuania 
The National Committee for the Coordination of the Changeover was established on 30 May 
2005. The National Changeover Plan was approved by the government on 29 September 2005 and updated on 25 April 2007. This new version of  the plan does not foresee any specific 
target date for the adoption of the euro
2.  
The second version of the 'Public information and communication strategy on the adoption of 
the euro in Lithuania' was approved by the government on 25 April 2007. A national website (www.euro.lt
) provides up to date information on the euro. The Commission and the 
Lithuanian authorities have further develope d their cooperation and pr epared a number of 
communication activities for 2009 under the Partnership Agreement prolonged in February 
2008.  
2.6. Hungary 
Hungary adopted the first edition of the Nati onal Changeover Plan in July 2008. The Plan was 
prepared without specifying a target date fo r euro adoption. The country should follow the 
'big-bang' scenario with 1 January as €-day. The general rules of th e changeover should be 
fixed by an 'umbrella law'. The principle of c ontinuity of contracts shall be respected.  
The exact length of the dual circul ation period is still to  be decided but the Plan states that it 
should be shorter than one month. The dual displa y of prices should star t as soon as possible 
after the Council decides on the ir revocably fixed exchange rate and should last until the end 
of June of the year following €-day. The euro should be introduced in a manner that 
minimises inflationary perceptions, is consume r-friendly and engenders the minimum risk of 
disruptions in cash circulati on. The banking sector should elaborate customer-friendly 
solutions regarding the management of accounts in the changeover period and it should avoid 
any unfair price increase. The banks should develop a communication strategy based on 
principles common for all banks.  
The communication campaign shoul d provide clear and simple messages and reach all sectors 
of population including vulnerable groups. The Communication Committee working under 
the National Euro Coordination Committee met fi ve times in 2008 and prepared the relevant 
chapter of the National Changeover Plan . The Communication Committee is currently 
involved in a consultation of the main stakeh olders on the National Changeover Plan that 
should be completed in the first quarter of 2009.  
                                                 
2 Lithuania envisaged adopting the euro in 2007. The Commission concluded that Lithuania did not fulfil 
all convergence criteria on 16 May 2006. As a consequence, Lithuania's derogation was not lifted.  
 
EN 5   EN 2.7. Poland 
On 28 October 2008, the government of Poland adopted a Roadmap fo r euro adoption. The 
euro should replace the zloty at the beginni ng of 2012. The government's plenipotentiary for 
the introduction of the euro who should be in ch arge of coordinating the practical preparations 
shall be nominated in November 2008. The Nati onal Bank of Poland shoul d finalise its report 
on Poland's membership in the euro area by the end of 2008 and the National Changeover 
Plan should be elaborated in the first quarter of 2009. The pro cedure of adaptation of the 
Polish constitution to the eu ro should be launched at the beginning of 2009. The Polish 
authorities wish to in troduce the zloty into the ERM II by mid-2009.  
The Roadmap also provides for a timetable of  the communication strategy on the euro. This 
timetable should be further developed in the National Changeover Plan. The National Bank of 
Poland participates actively in media debates and information sessions for specific target 
groups and it has been involved in various information activities  in the framework of its own 
communication strategy on the euro. The Nationa l Bank of Poland has launched a website on 
euro related issues ( www.euro.nbportal.pl ) in December 2006.  
2.8. Romania 
Romania keeps the 2014 as its target year for th e adoption of the euro. The changeover with a 
transition period is preferred to a 'big bang'  scenario. The envisaged length of the dual 
circulation period is 2 months. A detailed national cash change over plan should be elaborated 
in 2010.  
Romania has not yet developed a national commun ication strategy for th e euro introduction.  
2.9. Sweden 
In Sweden, preparations were st alled in practice by the negative  outcome of the referendum of 
14 September 2003. Sweden has no target date for adopting the euro.  
 
EN 6   EN ANNEX 1 
Overview on how the countries meet the provi sions of the Commissi on Recommendation of 
10 January 2008 on measures to facilitate future changeovers to the euro (2008/78/EC). It is 
solely based on publicly available information a nd may therefore not refl ect all preparations 
which are under way.  
 BG CZ EE LV LT HU PL RO SK SE 
Article 1: Steering and organisation  
Set up of appropriate national 
coordination structures  X X X X X   X  
National changeover plan:  
1. Prepared 2.Discussed with economic 
operators 
3. Regularly updated   X 
 X 
X X X 
X X X 
X X X   X 
X X
  
Article 2: Facilitating preparation of citizens  
Dual display of prices should be 
imposed by the national law  X X X X X   X  
Separate display of any charges 
imposed by businesses before €-day           
Prohibition of using other rate 
than the official conversion rate  X X X X X   X  
Min.6 months long dual display 
after €-day  X X X X X   X  
Max 1 year long compulsory 
dual display after €-day  X  X  X   X  
Citizens informed about 
security features of euro cash         X  
Special info programmes for 
vulnerable groups foreseen  X X X X X   X  
Training sessions for personnel 
working with cash/in direct contact with public 
1. By public administration 2. By businesses    
 
X  
 
X     
 
X X  
 
EN 7   EN  BG CZ EE LV LT HU PL RO SK SE 
Provision of information to 
SMEs by: 
1.Public administration bodies  2.Professional associations, 
chambers of commerce, business advisors   
 
X        
 
X 
 
X  
Provision of information by 
credit institutions to their 
customers         
X  
Monitoring of preparations 
through surveys  X X X X X   X  
Article 3: Ensuring a quick introduction of euro cash 
Dishoarding campaign for 
citizens   X  X    X  
1. Frontloading 
2. Sub-frontloading Schedules put in place         X  
X  
Euro coin kits for retailers    X       
Financially attractive differed 
debiting offered     X    X  
Mini coin kits for citizens: 
1. Production envisaged 2. At least 1 kit per family    
X     X  
ATMs adapted as of €-day   X X X    X  
Temporary closure of ATMs 
impossible to adapt for technical reasons     
    X   
Supply of ATMs with small 
denomination notes before and after €-day 
   
X  X    X  
 
 
EN 8   EN  BG CZ EE LV LT HU PL RO SK SE 
Giving of change in € only in as 
of €-day  X X  X X   X  
Ad-hoc measures due to 
increased cash volume in sales outlets      
   
X  
POS terminals switched to € as 
of €-day  X X X X X   X  
Consumers encouraged to use 
electronic payments means          X  
Extra opening days in credit 
institutions around €-day         X  
Extended opening hours in 
credit institutions around €-day         X  
Article 4: Preventive abusive practices and wrong perceptions on price evolutions 
Agreements on neutral impact 
of changeover on prices (e.g. Ethical Code)  
X  
X X    X  
Logo to identify the subscribers         X  
Advertisement for the logo         X  
Close monitoring of compliance 
with commitments by subscribers         
X  
Dissuasive measures for non-
compliance with the Code         X  
Monitoring of prices from the 
adoption of conversion rate until the end of dual display  
X X X X X   X  
Weekly information on 
evolution of prices around €-day         
X  
Alignment of bank charges for 
payments in € with the ones for payments in national currency before €-day          
X  
 
EN 9   EN  
ANNEX 2 
State of practical preparations (November 2008) 
 
 Bulgaria Czech Republic 
Changeover plan   
National target date for 
euro adoption   The preliminary target date (1 January 2010) was 
withdrawn by the government on 25 October 2006. The 
Czech Republic’s Updated Euro-area Accession 
Strategy (approved by the Czech government on 29 
August 2007) does not set any target date. 
National co-ordinating 
institution  The National Co-ordination Group was established and 
held its first meeting on 20 February 2006. Six Working 
Groups were established fo r particular areas of 
preparations for the euro.  
On 28 March 2007, a new National Co-ordinator for 
Euro Adoption was appointed by the government. 
(Approved) National 
Changeover Plan  The Czech Republic’s Euro  Accession Strategy was 
approved by the Government in October 2003:  
http://www.cnb.cz/www.cnb.cz /en/monetary_policy/stra
tegic_documents/download/ en_eurostrategie_09_2003.p
df. 
An updated version was approved by the Czech 
government in August 2007:  
http://www.cnb.cz/www.cnb.cz /en/monetary_policy/stra
tegic_documents/downl oad/eurostrategy_070829.pdf . 
The institutional arrangements for the introduction of 
the Euro in the Czech Republic were adopted by the 
Government on 23 November 2005.  
The first National Changeover Plan was approved by the Czech government on 11 April 2007. It was 
published in hardcopy, in both English and Czech 
versions.  
http://www.mfcr.cz/cps/rde/xbcr/mfcr/NP_EN_06-08-
07.pdf  
Progress Report to the Nati onal Changeover Plan was 
approved on 9 April 2008 by the Czech Government. 
http://www.zavedenieura.cz/cps/rde/xchg/euro/xsl/doku
menty_185.html 
 
 
EN 10   EN  Bulgaria Czech Republic 
Changeover details   
Type of scenario  "Big bang". 
On 30 June 2006, the National Co-ordination Group 
adopted a recommendation to the government 
concerning the changeover scenario, suggesting using 
the "big bang" scenario. The recommendation was 
approved by the Government on 25 October 2006. 
Dual circulation period  2 weeks starting from €-day 
Exchange of national 
banknotes and coins  The Czech National Bank, co mmercial banks and other 
selected entities will exchange cash for at least 6 months 
after €-day. Subsequently, the legacy currency will be 
only exchangeable at the Czech National Bank. The 
length of the banknote exchange period has still to be 
decided; coins will be exchangeable for a period of 5 
years. 
Campaign for rapid withdrawal of national 
banknotes and coins   
Frontloading and sub-
frontloading  Frontloading of banks will start 3 months ahead of €-
day and sub-frontloading of the non-financial sector will 
start one month ahead. 
ATMs issuing euro only   
Change in euro only  yes 
Dual display of prices  Mandatory dual display of prices will be introduced 
within one month after the fi xing of the conversion rate 
and will continue for 12 m onths after the changeover 
date. 
Consumer confidence building measures (e.g. 
agreements with 
retailers)  A voluntary agreement with retailers (fair-pricing 
agreement) is planned. In addition, a 'memorandum of 
understanding', to be signed by  the retail and services 
sector and the consumer pr otection associations, is 
envisaged. These measures are planned to be launched 
no later than one month after the fixing of the 
conversion rate. 
Adaptation of national 
law  The necessary adaptations of national law for the 
introduction of the euro are being analysed by the 
Working Group for Legislation of the National Co-
ordination Group. The government should decide 
whether to use an 'umbrella law' approach or to adapt 
individually all a ffected legal texts in April 2009. 
Euro banknotes and coins   
Design of the national 
side 
   
 
EN 11   EN  Bulgaria Czech Republic 
Nr of different coin 
designs   
Coin supplier  The suppliers should be  chosen via tender.  
Estimation on the need 
for banknotes and coins  230 million banknotes and 950 million coins. 
Communication activities   
Communication 
strategy  Under preparation within the framework of the Working 
Group for Communication.  
Addresses of websites 
on euro changeover: 
Government/Ministry 
of Finance; 
Central Bank  Governmental EU info rmation department: 
http://www.euroskop.cz/euro  
Ministry of Finance: 
http:// www.mfcr.cz/euro  
National euro website: 
http:// www.zavedenieura.cz   
Czech National Bank:  
http://www.cnb.cz/en/intern ational_relations/euro/   
Ministry of Industry and Trade:  
http://www.mpo.cz/cz/eu-a-vni trni-trh/euro-pristoupeni-
cr-k-eurozone/default.html  
Partnership agreement   
Other issues  The leaflet “Preparations of the Czech Republic for the 
euro adoption” was printed and distributed nation-wide. 
The conference “The euro – our future currency” was 
held in October 2007 in Prague.  
ERM II entry   
Twinning agreement  Cooperation between the Na tional Bank of Belgium, 
Czech Ministry of Finance and the Czech National Bank 
started in September 2007. Three meetings have been 
held in Brussels and Prague. . 
 
EN 12   EN State of practical preparations (November 2008) 
 
 Estonia Latvia 
Changeover plan   
National target date for euro 
adoption  Not decided. The government has a pproved the euro implementation 
perspective, undertaking to set the target date for the 
euro implementation day at l east 24 months prior to the 
expected implementation day, based on the outlook for 
Latvia's convergence programme regarding the 
fulfilment of the Maastricht cr iteria. Therefore the target 
date is defined as the euro implementation day. 
(http://www.mk.gov.lv/lv/mk/tap/?pid=30308178&mode
=mk&date=2007-09-25 ). 
National co-ordinating 
institution The National Changeover Committee, chaired by 
the Secretary General of the Ministry of Finance, 
was set up on 27 January 2005. The Steering Committee for the preparation and co-
ordination of the euro changeover was established on 18 
July 2005. 
(Approved) National 
Changeover Plan  The first draft of the euro adoption plan was 
approved by the government on 1 September 2005: 
http://www.fin.ee/index.php?id=13324 . 
The sixth version of Estonia's National Changeover 
Plan was approved on 29 November 2007: 
http://euro.eesti.ee/EU/Prod/Euroveeb/Main_Page/l
eft_menu_content4748/Changeover_to_the_euro_in
_Estonia/europlaan_en.jsp  The Cabinet of Ministers of the Republic of Latvia 
approved the Action Plan for Implementation of the 
Single European Currency on 1 November 2005, and the 
first version of Latvia's National Euro Changeover Plan 
on 28 February 2006 (Decree No 148, 6 March 2006). 
On 25 September 2007 the Cabinet of Ministers 
approved the updated version of  "Latvia's National Euro 
Changeover Plan" and Appendi x No 1 "Action Plan for 
the Introduction of the Single European Currency in 
Latvia" (Decree No 617, 8 October 2007). 
In the Action Plan, all activities are divided into two 
groups:  
– Activities that are not directly related to the target date;
– Activities that are directly related to the euro 
implementation day (with th e maximum starting time of 
24 months before the eu ro implementation day). 
Changeover details    
Type of scenario "Big-bang" 
 "Big-bang" 
 
Dual circulation period  Two weeks One month 
Exchange of national 
banknotes and coins Banknotes and coins: comme rcial banks at least 
6 months after €-day free of charge, some branches 
12 months. Central Bank indefinitely, free of 
charge. Commercial banks, currency exchange offices and post 
offices for 6 months after the euro implementation day 
free of charge; the Bank of Latvia will exchange without 
time limit free of charge. 
Campaign for rapid withdrawal of national 
banknotes and coins Campaign for collection of coins before €-day 
planned; credit institutions are recommended to 
launch early cash de posit campaigns. Not envisaged due to the high nominal value of coins in 
Latvia and their intensive us e in day-to-day payments. 
 
EN 13   EN  Estonia Latvia 
Frontloading and sub-
frontloading Frontloading 2 months before €-day; sub-
frontloading by credit institutions to major clients 1 
month before €-day (precondition: no distribution to 
general public before €-day). 
Banks will offer to change kroons into euro 
banknotes at the conversion rate and without a 
service fee at least one month prior to €-day. Frontloading to banks starts one month before the euro 
implementation day (1 December), sub-frontloading two 
weeks before €-day (15 December) - (precondition: euro 
banknotes and coins may not be publicly circulated 
before the euro implementation day). 
ATMs issuing euro only  All ATMs will dispense euro only within 48h as of 
€-day. As from the euro implementation day ATMs will 
dispense euro banknotes only. 
Change in euro only In general, change will be given in euro, but the 
option of giving change in kroon remains for the 
dual circulation period. After the end of the dual circulation period.  
Dual display of prices Compulsory: 6 months before and after €-day. Compulsory for three months before the euro 
implementation day until one year after the euro 
implementation day. 
Consumer confidence building measures (e.g. 
agreements with retailers) Monitoring of the prices of certain frequently 
purchased goods and services under the supervision 
of the Ministry of Economic Affairs and 
Communication. 
Leaflets containing information on the euro were 
made available to th e public in summer 2006. Monitoring of price developments in the retail trade, 
verification of the accuracy of price displays and 'fair 
trader' campaign envisaged. 
Adaptation of national law  Adaptation envisaged via an 'umbrella law' 
Euro banknotes and coins    
Design of the national side Design selected and published in December 2004.  
Nr of different coin designs One design Three designs 
Coin supplier Following a call for tender, coins will be minted by 
the Mint of Finland. Coins will be minted abroad following a call for tender. 
Estimation on the need for 
banknotes and coins 200-250 million coins 87 million banknotes and 300 million coins. 
Communication activities    
Communication strategy Endorsed by the National Changeover Committee 
on 21 June 2005 and updated on 18 May 2006. 'Communication strategy for the euro changeover in 
Latvia' approved by the Steering Committee of Latvia's 
euro implementation proj ect on 12 April 2006. 
Addresses of websites on 
euro changeover: 
Government/Ministry of 
Finance;  
Central Bank www.euro.eesti.ee  launched in January 2006. Euro changeover website: www.eiro.lv . Under 
preparations. A working group has been set up to 
develop the concept of this site.  
Updated information on the euro changeover process is 
available on the website of the Ministry of Finance: 
http://www.fm.gov.lv/page.php?id=105. 
 
EN 14   EN  Estonia Latvia 
Partnership agreement Signed on 8 November 2005  
 
Other issues    
ERM II entry 28 June 2004 2 May 2005 
Twinning agreement  The Twinning Agreement between BE and LV 
Reference: Project Proposal ECFIN 4876 dated 18 
December 2007. 
 
EN 15   EN State of practical preparations (November 2008)  
 Lithuania Hungary 
Changeover plan   
National target date for 
euro adoption  The specific target date has not been set. According to 
the government, Lithuania will aim to join the euro area 
as soon as possible. A favourab le period for Lithuania to 
join the euro area starts from 2010.  Not decided. 
National co-ordinating 
institution Commission for the Co-ordination of the Adoption of the 
Euro in Lithuania, established on 30 May 2005. The government decided on 12 September 2007 to set up 
the National Euro Coordination Committee. The key task 
of the Committee is to co-ordinate the practical 
preparations for the changeover.  
The NECC is chaired by the Minister of Finance and co-
chaired by the Governor of  Magyar Nemzeti Bank. The 
committee is composed of mi nisters of economy, justice 
and security, local governance and regional 
developments, social affaires, the Minister in charge of 
Prime Ministers’ Office, the President of the Central 
Statistical Office and the Chairman of the board of the 
Hungarian Financial Supe rvisory Authority. The 
Minister of Foreign Affairs has a permanent observer 
status in the NECC. The Committee shall report on its 
activities and the progress made  in technical preparations 
for the changeover annually to the government and to the 
respective committees of the Hungarian Parliament 
(Approved) National Changeover Plan  The second version of the National Changeover Plan  
was 
approved by the government on 25 April 2007 and 
published: 
http://www.euro.lt/documents/Changeover%20Plan_II_r
edakcija_EN.doc.  The government adopted the first version of the National 
Changeover Plan in July 2008. It has been published in 
Hungarian and in English: 
http://english.mnb.hu/Engi ne.aspx?page=mnb_euro_inde
x. 
   
Type of scenario "Big-bang" "Big-bang". 
Dual circulation period  15 days. Shorter than 1 month, exact length to be decided 
Exchange of national 
banknotes and coins Commercial banks: free of charge for 60 days after €-
day. Central bank: free of ch arge for an unlimited period. 
Campaign for rapid 
withdrawal of national 
banknotes and coins Consumers will be encouraged to deposit cash with 
banks as early as possible.  
Frontloading and sub-
frontloading Frontloading of euro banknotes to commercial banks one 
month before €-day at the latest and of euro coins three 
months before €-day at the latest. Sub-frontloading of 
euro banknotes and coins to retailers during the last 
month before €-day.  
 
EN 16   EN  Lithuania Hungary 
ATMs issuing euro only  As from €-day ATMs will dispense only euro banknotes.  
Change in euro only Recommendation to give change in euro only.  
Dual display of prices Compulsory: 120 calendar days before €-day until 120 
days after €-day; voluntary: recommendation to use dual 
display as early as possible after fixing of the conversion 
rate. Compulsory: from the earliest possible date after the 
conversion rate is irrevocably fixed until 30 June of the 
year following €-day. 
Consumer confidence 
building measures (e.g. 
agreements with 
retailers) Business organisations will be  encouraged to adopt a 
'Code of Good Business Practice'  (correct conversion, no 
speculative price increases etc.); subscribers will be 
authorised to use a special logo of the Code. Voluntary agreements on fair pricing should be signed 
with retailers and service providers. The signatories will 
be entitled to use a special  logo. Prices should be 
regularly monitored by public institutions and 
organisations of consumers. The results of the 
monitoring are to be regularly communicated to citizens. 
Adaptation of national 
law A Law on the Adoption of the Euro has been prepared 
(rules on conversion and exchange of litas to the euro, 
withdrawal of litas from ci rculation, dual display of 
prices, presentation of designs  of notes and Lithuanian 
euro coins, redenomination of securities, etc.). The law 
will be adopted once the decision to lift the derogation is 
taken.  
All existing legal acts that need to be adapted with a 
view to euro adoption were identified by December 
2005.  The National Plan provides for an 'umbrella law' plus 
individual adjustments of legal texts if necessary. 
Euro banknotes and coins    
Design of the national 
side 
 Approved To be decided in the first half of 2009. 
Nr of different coin 
designs Three designs To be decided in the first half of 2009. 
Coin supplier Lithuanian Mint To be decided before end 2008. 
Estimation on the need 
for banknotes and coins 118 million banknotes and 290 million  To be decided 24 months before €-day.  
Communication activities    
Communication 
strategy The 'Public information and communication strategy on 
the adoption of the euro of Lithuania' was approved by 
the government on 29 September 2005.  The second 
version was approved by the government on 25 April 
2007 and published on the web:  
http://www.euro.lt/documents/2007%2004%2025%20Vi
suomenes%20informavimo %20strategija_EN.doc . The section on communication in the National 
Changeover Plan defines ba sic principles, actors, 
messages and target groups for the communication on 
the euro. The Communicati ons Sub-committee should 
present a proposal to the NEC on a long-term strategy for the changeover campaign by 30 November 2008. The 
NEC should approve the strategy by 31 March 2009. 
 
EN 17   EN  Lithuania Hungary 
Addresses of websites 
on euro changeover: 
Ministry of 
Finance/Government;  
Central Bank National euro website ( www.euro.lt ). 
Regularly updated websites of the Bank of Lithuania 
(www.lb.lt ) and of the Ministry of Finance 
(www.finmin.lt ). National euro website (www.euro.mnb.hu) activated in 
December 2006.  
Partnership agreement Signed on 8 November 2005. Prolongation signed on 5 
February 2008.  
Other issues    
ERM II entry 28 June 2004  
Twinning agreement Three Twining agreements completed: 
NL – SI – LT on communication and information 
strategy;  
BE – LT on tax-related questions;  
BE – LT on departmental ma nagement related to the 
changeover. AT and HU on communication a nd information strategy 
(finalised). 
FR- HU: 3 day seminar was organised on legal issues, 
public sector preparations for the changeover and 
communication issues. 
 
EN 18   EN State of practical preparations (November 2008) 
 Poland Romania 
Changeover plan    
National target date for 
euro adoption  2012 2014 
National co-ordinating 
institution National Euro Coordination Committee to be established 
in the first quarter of 2009; Government Plenipotentiary 
for the euro to be appointed by end-2008.  
(Approved) National 
Changeover Plan To be elaborated in the first quarter of 2009.   
Changeover 
details    
Type of scenario Not decided yet (probably a “big bang” scenario but a 
transitional period has not been ruled out). Transitional period envisaged 
Dual circulation period 1-2 months 2 months 
Exchange of national 
banknotes and coins Not decided yet (under consid eration: commercial banks 
3 or 6 months after €-day free  of charge; central bank at 
least 10-15 years or indefinitely, free of charge) Indefinitely 
Campaign for rapid 
withdrawal of national 
banknotes and coins   
Frontloading and sub-
frontloading 4 months before €-day   
ATMs issuing euro only   
Change in euro only   
Dual display of prices Compulsory: approximately 6 months before and after €-
day  
Consumer confidence 
building measures (e.g. 
agreements with 
retailers) Ethical Code to be signed with retailers and banks by the 
end of 2010. Monitoring of price developments during 
and after dual display of pric es (possible sanctions for 
abuses).   
Adaptation of national 
law Planned for second half of 2010 including drafting of 
new acts (e.g. umbrella law).   
 
EN 19   EN  Poland Romania 
Euro banknotes 
and coins    
Design of the national 
side 
 Open competition and public survey (planned for first 
half of 2010).  
Nr of different coin 
designs   
Coin supplier   
Estimation on the need 
for banknotes and coins Original estimates: 4 -5 bi llion coins, new estimates 
under preparation.  
Communication 
activities    
Communication 
strategy No national strategy, only th e communication strategy of 
the National Bank of Poland.  
Addresses of websites 
on euro changeover: 
Government/Ministry 
of Finance; 
Central Bank  
 
 
www.euro.nbportal.pl  launched in December 2006  
Partnership agreement Planned for the end of the first quarter of 2009   
Other issues    
ERM II entry Spring 2009  
Twinning agreement Germany– Poland: Communi cation and information 
strategy and other practical aspects of the changeover   
 
 
EN 20   EN State of practical preparations (November 2008) 
 
 Slovakia Sweden 
Changeover plan    
National target date for 
euro adoption  1 January 2009 Not decided. 
National co-ordinating 
institution The National Coordination Committee is the supreme 
managing and coordination body preparing the euro 
changeover. It is chaired by the Minister of Finance 
(being the National Coordinator for the changeover) and 
the Governor of the Bank of Slovakia. A new 
Plenipotentiary of the government for the introduction 
of the euro was nominated in January 2007.  
(Approved) National 
Changeover Plan  The first version of the National Changeover Plan was 
approved on 6 July 2005.  
http://www.nbs.sk/EURINT/EURO/NP_AKT.PDF  
(Slovak)   
Updates followed in March 2007, April 2008 and 
September 2008:  
http://www.nbs.sk/ZAKLNBS/PUBLIK/BROZURY/N
ARPLANA.PDF (English).  
http://www.nbs.sk/ME DZINAR/EU/NP_0804.PDF   
Changeover details    
Type of scenario "Big bang"  
Dual circulation period  16 days  
Exchange of national 
banknotes and coins Commercial banks exchange banknotes until end 2009 
and coins until June 2009 (free of charge). The Central 
Bank exchanges banknotes w ithout time limit and coins 
for 5 years.  
Campaign for rapid 
withdrawal of national 
banknotes and coins Dishoarding campaign for general public in the last 
quarter of 2008.  
Frontloading and sub-
frontloading Commercial banks frontloaded with euro coins as of 
September 2008 and with euro banknotes as of October 
2008. The sub-frontloading of th e retail sector will take 
place in November and December 2008.   
ATMs issuing euro only  As of €-day ATMs will dispense euro only.  
Change in euro only As of €-day  
 
EN 21   EN  Slovakia Sweden 
Dual display of prices Compulsory: 24 August 2008 – 31 December 2009 
Voluntary: for further 6 months.  
Consumer confidence 
building measures (e.g. 
agreements with 
retailers) Evolution of prices are closely monitored and 
consumers are regularly informed about the results; 
consumers can raise complain ts with supervisory bodies 
(Slovak Trade Inspection, Ministry of Economy and the 
consumer associations); vol untary 'Ethical Code' has 
been launched by the Government Plenipotentiary; the 
statistical monitoring of pr ices performed by Slovak 
Statistical Office as of  August 2008 in 10 days 
intervals; 
  
Adaptation of national 
law The 'umbrella law' on the introduction of the euro was 
approved by the government on 26 September 2007 and 
entered into force on 1 January 2008. The necessary 
amendments to existing legislation identified by January 
2006.   
Euro banknotes and coins    
Design of the national 
side 
 Final design of the national side for the euro coins was 
chosen by public tender followed by an opinion poll.  
Nr of different coin 
designs Three designs  
Coin supplier National Mint of Kremnica  
Estimation on the need 
for banknotes and coins 188 million banknotes, 500 million coins.  
Communication activities    
Communication 
strategy The final version of the Communication Strategy was 
approved by the Slovak aut horities in October 2007.  
Addresses of websites 
on euro changeover: 
Government/Ministry 
of Finance;  
Central Bank http://www.nbs.sk/MEDZ INAR/EU/INDEXA.HTM  
http://www.finance.gov .sk/En/Default.aspx  
www.euro.gov.sk   
www.euromena.sk    
Partnership agreement Partnership agreement with the EC signed in December 
2007.  
Other issues    
ERM II entry 28 November 2005  
 
EN 22   EN  Slovakia Sweden 
Twinning agreement AT – SK: communication and information strategy 
(finalised); 
BE – SK: technical issues related to the changeover 
(finalised).