Council Regulation (EC) No 693/2008 of 8 July 2008 amending Regulation (EC) No 974/98 as regards the introduction of the euro in Slovakia
Date: 2008-07-08
Institutions: Council of the European Union
Subjects: Economic and Monetary Union, European Monetary System, Slovakia, euro

24.7.2008

EN

Official Journal of the European Union

L 195/1

(Acts adopted under the EC Treaty/Euratom Treaty whose publication is obligatory)

I

REGULATIONS

COUNCIL REGULATION (EC) No 693/2008

of 8 July 2008

amending Regulation (EC) No 974/98 as regards the introduction of the euro in Slovakia

THE COUNCIL OF THE EUROPEAN UNION,

which have not yet adopted the euro as the single
currency.

Having regard to the Treaty
Community, and in particular Article 123(5) thereof,

establishing the European

Having regard to the proposal from the Commission,

Having regard to the opinion of the European Central Bank (1),

Whereas:

(1)

(2)

(3)

Council Regulation (EC) No 974/98 of 3 May 1998 on
the introduction of the euro (2) provides for the substi­
tution of the euro for the currencies of the Member
States which fulfilled the necessary conditions for the
adoption of the single currency at the time when the
Community entered the third stage of economic and
monetary union.

Council Regulation (EC) No 2596/2000 (3) amended
Regulation (EC) No 974/98 to provide for the substi­
tution of the euro for the currency of Greece.

Council Regulation (EC) No 2169/2005 (4) amended
Regulation (EC) No 974/98 in order to prepare for
subsequent introductions of the euro in Member States

(1) Opinion of 3 July 2008 (not yet published in the Official Journal).
(2) OJ L 139, 11.5.1998, p. 1. Regulation as last amended by Regu­

lation (EC) No 836/2007 (OJ L 186, 18.7.2007, p. 3).

(3) OJ L 300, 29.11.2000, p. 2.
(4) OJ L 346, 29.12.2005, p. 1.

(4)

(5)

(6)

(7)

(8)

(9)

Council Regulation (EC) No 1647/2006 (5) amended
Regulation (EC) No 974/98 to provide for the substi­
tution of the euro for the currency of Slovenia.

Council Regulation (EC) No 835/2007 (6) amended Regu­
lation (EC) No 974/98 to provide for the substitution of
the euro for the currency of Cyprus.

Regulation (EC) No 836/2007 amended Regulation (EC)
No 974/98 to provide for the substitution of the euro for
the currency of Malta.

According to Article 4 of the 2003 Act of Accession,
Slovakia is a Member State with a derogation as defined
in Article 122 of the Treaty.

Pursuant to Decision 2008/608/EC of 8 July 2008 in
the Treaty on the
accordance with Article 122(2) of
adoption by Slovakia of
currency on
the
1 January 2009 (7), Slovakia
the necessary
conditions for the adoption of the single currency and
the derogation in favour of Slovakia is to be abrogated
with effect from 1 January 2009.

single
fulfils

The introduction of the euro in Slovakia requires the
extension to Slovakia of the existing provisions on the
in Regulation (EC)
introduction of
No 974/98.

the euro set out

(5) OJ L 309, 9.11.2006, p. 2.
(6) OJ L 186, 18.7.2007, p. 1.
(7) See page 24 of this Official Journal.

L 195/2

EN

Official Journal of the European Union

24.7.2008

(10)

Slovakia’s changeover plan specifies that euro banknotes
and coins should become legal tender in that Member
State on the day of the introduction of the euro as its
currency. Consequently, the euro adoption date and the
cash changeover date should be 1 January 2009. No
‘phasing-out’ period should apply.

HAS ADOPTED THIS REGULATION:

Article 1

The Annex to Regulation (EC) No 974/98 shall be amended in
accordance with the Annex to this Regulation.

(11)

Regulation (EC) No 974/98 should therefore be amended
accordingly,

This Regulation shall enter into force on 1 January 2009.

Article 2

This Regulation shall be binding in its entirety and directly applicable in the Member States in
accordance with the Treaty establishing the European Community.

Done at Brussels, 8 July 2008.

For the Council
The President

C. LAGARDE

In the Annex to Regulation (EC) No 974/98, the following line is inserted between the entries for Slovenia and Finland:

ANNEX

Member State

Euro adoption date

Cash changeover date

Member State with a
‘phasing-out’ period

‘Slovakia

1 January 2009

1 January 2009

No’