WRITTEN QUESTION E-3318/03 by Alexandros Alavanos (GUE/NGL) to the Commission. Issuing of EUR 1 banknotes.
Date: 2003-11-10
Institutions: European Parliament, Provisional data
Subjects: European Central Bank, euro, euro area, issuing of currency, paper money

C 78 E/802

Official Journal of the European Union

EN

27.3.2004

(2004/C 78 E/0851)

WRITTEN QUESTION E-3318/03

by Alexandros Alavanos (GUE/NGL) to the Commission

(10 November 2003)

Subject: Issuing of EUR 1 banknotes

In its answer to my question No E-2628/02 (1), the Commission states that ‘The possibility of EUR 1 or
EUR 2 notes has no real support anywhere other than in Greece and Italy and comes up against strong
opposition in some countries’. The recent meeting (7 October 2003) of the eurozone Ministers for
Economic Affairs and Finance at the European Central Bank discussed speeding up the process of
introducing a EUR 1 banknote.

Can the Commission specify the date on which EUR 1 banknotes will be issued?

(1) OJ C 161 E, 10.7.2003, p. 30.

Answer given by Mr Solbes Mira on behalf of the Commission

(17 December 2003)

According to Article 106(1) of the EC Treaty, the European Central Bank (ECB) has the exclusive right to
authorise the issue of euro banknotes. Decisions on banknote denominations are therefore the
responsibility of the ECB.

The Governing Council of the ECB decided on 24 April 2003 to put on hold the decision on the use of
very low-denomination banknotes on the following grounds:

(cid:1) a change in the denominational structure of the banknotes and coins shortly after the cash changeover
is not advisable in view of the significant adaptation costs economic agents had to bear due to the
cash changeover in 2002;

(cid:1) the Eurosystem acknowledges the existence of some public support for the introduction of low-

denomination euro banknotes, although limited, at this stage;

(cid:1) the issuance of very low-denomination euro banknotes should be considered only after a few years

when more experience on the use of euro banknotes and coins is available.

If a low-denomination banknote were issued, this would imply a parallel circulation between the same coin
and banknote denomination. The ECB will reconsider this subject in autumn 2004.

(2004/C 78 E/0852)

WRITTEN QUESTION E-3338/03

by Roberta Angelilli (UEN) to the Commission

(12 November 2003)

Subject: Environmental protection for the Peschiera springs

A few months ago the municipality of Cittaducale in the province of Rieti drew up a preliminary contract
of sale, to be completed before the end of the year, for the transfer of 32 hectares of land to the Italian
company ACEA S.p.A.

This piece of land in the mountains contains one of the oldest mineral water springs in the country and an
ancient cedar wood. However, the municipal administration has undertaken to turn the existing wood into
an area of high forest, without taking account of the characteristics of the terrain and the hydrogeological
impact, which might undermine the stability of the mountainside.

Furthermore, it is unclear what use the buyer will make of the water resource, which is one of the most
important in the whole Rieti area.

However,
the Community institutions have for many years been committed to safeguarding and
conserving the environment, as is shown by the Council’s common position of 13 June 2003 with a
view to the adoption of a framework regulation called ‘Forest Focus’.