WRITTEN QUESTION E-3898/00 by Robert Goebbels (PSE) to the Commission. Advance supply of 5 and 10 banknotes.
Date: 2000-12-13
Institutions: European Parliament, Provisional data
Subjects: private-sector liquidity, single monetary policy

C 174 E/178

Official Journal of the European Communities

EN

19.6.2001

Details of Member States changeover plans to the Euro are summarised in the Commission report to the
European Parliament, the Council and the ECB in particular of 18 July 2000 (COM(2000) 443 final).

(2001/C 174 E/189)

WRITTEN QUESTION E-3898/00

by Robert Goebbels (PSE) to the Commission

(13 December 2000)

Subject: Advance supply of € 5 and € 10 banknotes

According to a recent report by the committee responsible for monitoring the introduction of the euro it
has just been realised that it will not be possible to adapt most automatic cash dispensers in the EU
Member States to issue € 5 banknotes and, in certain countries, € 10 banknotes also. In other words cash
dispensers will generally only be able to issue € 20, € 50 or € 100 banknotes. This will cause a major
problem for the retail trade which, after 1 January 2002, will be receiving payment in large denominations
and require to give change in € 5 or € 10 banknotes which will rapidly become very hard to obtain. In
view of this apparently unforeseen situation, should the question of advance issuing of € 5 and € 10n
banknotes in particular be reconsidered? In certain countries, from 15 December 2001, the public will be
able to purchase a kit containing all euro coins with which they will thus be able to familiarise themselves.
In the weeks leading up to 1 January 2000 would it not be a good idea to enable the European general
public to purchase € 5 and € 10 banknotes thereby facilitating the transition to the euro?

Answer given by Mr Solbes Mira on behalf of the Commission

(29 January 2001)

The Member States of the European monetary union (EMU) have agreed to reduce the period of dual
circulation of banknotes and coins in 2002 as much as possible. This is in order to reduce the possibility
of confusion for the citizens and to alleviate the necessity for the retail sector to operate in two currencies.

A banknote frontloading to the public could in effect lengthen the dual circulation period and could run
counter to the reasons that led to its shortening. Moreover, banknote frontloading to the public could
entail the risk of early circulation of the notes before 1 January 2002.

(2001/C 174 E/190)

WRITTEN QUESTION E-3899/00

by Astrid Lulling (PPE-DE) to the Commission

(13 December 2000)

Subject: Coin exchange on introduction of the euro in 2002

On return from visits abroad EC Member State residents frequently have coins which, unlike banknotes
they are unable to change into the currency of their own country, since the costs related for the exchange
transaction would be too high. These coins are generally kept for use on a subsequent visit. However, after
1 January 2002, it will not longer be possible to use them.

Does the Commission not consider that measures should be taken to ensure that these coins can be
exchanged for euro coins in all Euroland countries during the transitional period? Is the Commission
prepared to issue banks with instructions or recommendations on the matter so as to avoid the situation
arising where banks refuse to exchange the coins and ensure that coins from the twelve Member States
converting to the euro can be exchanged without additional charges?