Opinion of the European Central Bank of 30 April 1999 at the request of the Italian Ministry of Treasury Finance under Article 105 (4), second indent, of the Treaty establishing the European Community, Article 4(a), second indent, of the Statute of the European System of Central Banks and of the European Central Bank and Article 2.1 of Council Decision 98/415/EC of 29 June 1998 on the consultation of the European Central Bank by national authorities regarding draft legislative provisions, on a draft Presidential Decree containing "Regulations for the production and issue of coins" (the "draft Presidential Decree") (CON/99/03)
Date: 1999-04-30
Institutions: European Central Bank
Subjects: Italy, euro, issuing of currency, money, national law

OPINION OF THE EUROPEAN CENTRAL BANK

of 30 April 1999

at the request of the Italian Ministry of Treasury Finance under Article 105 (4), second

indent, of the Treaty establishing the European Community, Article 4(a), second indent,

of the Statute of the European System of Central Banks and of the European Central

Bank and Article 2.1 of Council Decision 98/415/EC of 29 June 1998 on the consultation

of the European Central Bank by national authorities regarding draft legislative

provisions, on a draft Presidential Decree containing “Regulations for the production

and issue of coins” (the “draft Presidential Decree”)

1.  On 9 April 1999 the European Central Bank (ECB) received a request for an opinion on the

draft Presidential Decree from the Italian Ministry of Treasury. This ECB Opinion is based on

the English translation of the draft submitted to the ECB by the consulting authority.

2. 

The ECB’s competence to deliver an opinion is based on Article 2.1, first and second indent, of

the Council Decision 98/415/EC of 29 June 1998 on the  consultation  of  the  ECB  by  national

authorities  regarding  draft  legislative  provisions,  as  the  draft  Presidential  Decree  contains

provisions concerning the minting and issuance of state coins. In accordance with Article 17.5,

first sentence, of the Rules of Procedure of the ECB, this ECB Opinion has been adopted by

the Governing Council of the ECB.

3. 

The  purpose  of  the  draft  Presidential  Decree  is  to  adopt  provisions  in  order  to  amend  and

integrate,  where  necessary,  the  provisions  of  Ministerial  Decree  of  30  July  1983,  taking  into

account the relevant provisions of Community law in the field of issuance of both national and

euro  coins.  The  draft  Presidential  Decree  covers  both  the  issuance  of  state  coins  and  euro

coins  and  accommodates  in  Article  1,  first  and  second  paragraphs,  the  powers  of  the  ECB

granted by Article 105a(2) of the EC Treaty. The ECB notes that the recognition in the Italian

legislation  of  the  need  for  ECB  approval  of  the  volume  of  coins  to  be  issued  makes  such

approval  a  legal  condition  for  the  issuance.  However,  concerning  in  particular  the  second

paragraph of Article 1, the ECB recommends to make it more clear that the approval by the

ECB  of  the  volume  of  coin  issuance  is  not  required  to  initiate  production.  In  fact,  while  the

production of euro coins can start already in 1999 without the need for approval of the ECB, it

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is only starting from 1 January 2002 that euro coins can be issued subject to the approval by

the ECB of the volume of euro coins issuance. 

4. 

The ECB notes that Article 1, second and third paragraphs, correctly require compliance with

“the  measures  adopted  by  the  Council  of  the  European  Union  pursuant  to  Article  105a,

paragraph  2  of  the  Treaty”  and  with  “relevant  Community  provisions”  in  the  field  of  “the

technical and artistic characteristics of each denomination”.

5. 

Articles 2 to 15 of the draft Presidential Decree deal mainly, in a very detailed way, with the

organisation  of  production  of  coins,  including,  inter  alia,  supervision  and  control  and  security

measures.  In  Article  8,  1st  paragraph,  the  ECB  suggests  to  make  clear  that  the  reference  to

“the characteristic design specified in the measure of the Ministry of the Treasury” is without

prejudice  to  the  applicable  Community  legislation  adopted  by  the  Council  of  the  European

Union  pursuant  to  Article  105a,  paragraph  2  of  the  Treaty.  Moreover,  the  ECB  understands

the  wording  “without  prejudice  to  any  measures  issued  by  European  Community  bodies”  in

Article 14 as referring also to the need of ECB approval for the issue of gold and silver euro

coins.

6. 

Articles 16 to 28 of the draft Presidential Decree deal with the issuance of coins, specifying the

distribution channels and establishing a set of rules dealing with transport, delivery and receipt

of coins. While most Articles do not require any comments from the ECB, concerning Article

28 the ECB suggests to clarify that, in connection with the euro coins intended for circulation,

the competence of the permanent and artistic committee are limited to the “national side” of

the coins.

The ECB confirms that it has no objection to this Opinion being made public by the competent Italian

authorities at their discretion.

Done at Frankfurt am Main on 30 April 1999.

The President of the ECB

[signed]

Willem F. Duisenberg