WRITTEN QUESTION E-1306/01 by Christopher Huhne (ELDR) to the Commission. Foreign exchange charges.
Date: 2001-05-03
Institutions: European Parliament, Provisional data
Subjects: EU law, bank charges, consumer information, consumer protection, euro area, exchange transaction

11.12.2001

EN

Official Journal of the European Communities

C 350 E/117

(2001/C 350 E/127)

WRITTEN QUESTION E-1306/01

by Christopher Huhne (ELDR) to the Commission

(3 May 2001)

Subject: Foreign exchange charges

Is the Commission satisfied that customers of foreign exchange bureaux in the European Community

1.
are properly made aware of the charges which can be incurred?

2. What measures is it taking to ensure that such offices are competitive and offer value for money to
consumers, particularly in smaller Member States where there may be only a few financial institutions
operating in the market?

Given the very high charges sometimes levied, does it consider that there are grounds for the

3.
regulation of small transactions?

Answer given by Mr Bolkestein on behalf of the Commission

(9 July 2001)

With regard to informing customers about the charges levied by foreign exchange bureaux, the rules are
different depending on whether or not the Member State is part of the euro zone:

(cid:129) In the Member States belonging to the euro zone, the legislation on the euro applies for the exchange
of notes from the zone. The official exchange rate must be used. The charges levied by exchange
bureaux are shown separately as a percentage or as a fixed amount. There is no Community
legislation, however, with regard to the exchange of non-euro notes.

(cid:129) In the Member States that do not belong to the euro zone, the Community legislation on the euro

does not apply unless the notes that are bought and sold come from the euro zone.

(cid:129) Quite apart from their membership of the euro zone, several Member States have introduced rules so
that charges are displayed to inform consumers before any transaction. At this stage, the Commission
does not think that there is any need for Community harmonisation of laws on informing consumers
in this field.

The Commission would point out to consumers that the use of automatic teller machines (ATMs) in the
Member State of destination may be a less expensive way of obtaining cash.

(2001/C 350 E/128)

WRITTEN QUESTION E-1310/01

by Patricia McKenna (Verts/ALE) to the Commission

(3 May 2001)

Subject: Mugardos regasification plant

Under the plan to use natural gas as a fuel and the conversion to be carried out to that end in the Spanish
energy sector, a number of regasification plants are to be sited on the Spanish coast.

In Mugardos, in the immediate vicinity of the town and close to a residential area with a population of
150 000, the intention is to set up a regasification plant. Experts, the former head of the El Ferrol Port
Authority (dismissed on account of his opposition to the proposed siting of the plant in Mugardos),
fishermen(cid:146)s associations, citizens(cid:146) groups, and environmental NGOs maintain that the plant should not be
built in the place concerned, given the serious dangers to the surrounding population.