COMMISSION STAFF WORKING DOCUMENT Accompanying the document REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN CENTRAL BANK, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE OF THE REGIONS Fifteenth Report on the practical preparations for the future enlargement of the euro area
Date: 2014-11-21
Institutions: European Commission
Subjects: Bulgaria, Croatia, Czechia, Hungary, Poland, Romania, Sweden, conversion rate, euro, euro area, national currency, public awareness campaign, transitional period (EU)













EUR-Lex - 52014SC0341 - EN











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52014SC0341

COMMISSION STAFF WORKING DOCUMENT Accompanying the document REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN CENTRAL BANK, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE OF THE REGIONS Fifteenth Report on the practical preparations for the future enlargement of the euro area /* SWD/2014/0341 final */









1.           Introduction
This Commission
Staff Working Document accompanies the 'Fifteenth Report on the practical
preparations for the enlargement of the euro area'. While the Report deals with
the practical preparations in Lithuania which is envisaging the euro changeover
on 1 January 2015, this Staff Working Document provides information on the
state of practical preparations in the remaining Member States outside the euro
area[1],
focusing on any developments from October 2013 (state of play reflected in the
last Staff Working Document[2])
until end of August 2014. As the previous Staff Working Documents published on
this subject, it provides also an overview on how Member States respect the
provisions of the 'Commission Recommendation of 10 January 2008 on measures to
facilitate future changeovers to the euro (2008/78/EC)'[3]. The
Annex provides a synoptic overview of the overall state of play of national
changeover preparations.
2.           Preparations at national
level
2.1.        Bulgaria
In Bulgaria, practical preparations for the introduction of the euro have not been launched. A
changeover target date has not been set.
2.2.        Czech Republic
A target date
for euro adoption has not been set. The Czech Government declared in February
2014 to actively support the creation of conditions conducive to the adoption
of the euro. Progress on the practical preparations has last been assessed in April
2010.
The National
Changeover Plan was approved in April 2007. The dedicated national euro
changeover website (www.zavedenieura.cz)
displays euro-related governmental documents and the documents produced by the
National Coordination Group for Euro Adoption and its Working Groups.
2.3.        Croatia
Croatia has not
yet set a target date for euro adoption and the practical preparations have not
yet been launched.
2.4.        Hungary
Hungary has
not set the target date for euro adoption. The National Changeover Plan was
last updated in 2009. The national body responsible for changeover preparations
is the National Euro Coordination Committee (NECC), which is composed of high
level representatives of Ministries, central governmental institutions and the central
bank of Hungary, Magyar Nemzeti Bank.
The section on
communication in the National Changeover Plan defines basic principles, actors,
messages and target groups for the communication on the euro.
2.5.        Poland
A target date
for the euro adoption has not been set. The National Euro Changeover Plan of
2011 is being revised, taking into account inter alia insights gained in a
twinning program (2011-2012) with Austria, the Netherlands and Slovakia as well as the implications of the current reform agenda in the EMU on the Polish
euro adoption strategy.
The organisational
structure for the euro adoption comprises the National Coordination Committee
for the Euro Changeover, the Coordinating Council, eight Working Committees and
two Task Groups. The Committee and the Council are chaired by the Government
Plenipotentiary for the Euro Adoption in Poland and co-chaired by the
Plenipotentiary of the National Bank of Poland's (Narodowy Bank Polski)
Management Board.
Information on
activities of the bodies involved in the changeover preparations are published
on the website of the Government Plenipotentiary for the Euro Adoption in
Poland (www.euro.mf.gov.pl).
The dedicated communication strategy will be published alongside the update of
the National Euro Changeover Plan.
In cooperation
with the European Commission, the National Bank of Poland has organised a
travelling exhibition "The Euro – a currency for Europe", with stops
in Polish regional capitals. The project started in 2012 and is set to end in December
2014.
2.6.        Romania
In May 2014, the
Romanian Governement set 1 January 2019 as the target date for adopting the
euro.
The national
body responsible for changeover preparations is the Interministerial Committee
for changeover to the euro. The Committee is composed of high level
representative of Ministries and central governmental institutions. It is
chaired by the Prime Minister and co-chaired by the Governor of the National
Bank of Romania (NBR).
2.7.        Sweden
Sweden does
not have a target date for adopting the euro. The preparations were stalled by
the negative outcome of the referendum of 14 September 2003.
3.           Protection of the euro
against counterfeiting
Concerning the
protection of the euro against counterfeiting, the Member States addressed in
this Staff Working Document have established the national authorities as
required by Article 2 of Regulation (EC) No 1338/2001; their representatives
participate in the meetings of the expert groups and have received appropriate
training.
4.           respecting the provisions
of the Commission Recommendation on measures to facilitate future changeovers
to the euro 
This section
provides an overview on how the concerned Member States meet the provisions of
the Commission Recommendation of 10 January 2008 on measures to facilitate
future changeovers to the euro (2008/78/EC). It is based solely on publicly
available information as at end of August 2014 and therefore may not reflect
all preparations which are under way. 
   || BG || CZ || HR || HU || PL || RO || SE 
 Article 1: Steering and organisation 
 Set up of appropriate national coordination structures ||   || X ||   || X || X || X ||   
 National changeover plan: 1. Prepared 2. Discussed with economic operators 3. Regularly updated ||   ||   X     X ||   ||   X X   X ||   X     X ||   ||   
 Article 2: Facilitating preparation of citizens 
 Dual display of prices should be imposed by the national law ||   || X ||   || X ||   ||   ||   
 Compulsory dual display planned as from the irrevocable fixing of the exchange rate ||   || X ||   || X ||   ||   ||   
 Min. 6 months and max. 1 year long compulsory dual display after €-day planned ||   || X ||   || X ||   ||   ||   
 Any charges for accepting €-payments imposed by businesses before €-day should be displayed separately ||   ||   ||   ||   ||   ||   ||   
 Legal ban on using a rate other than the official conversion rate ||   || X ||   || X ||   ||   ||   
 Plans to inform citizens about security features of euro cash ||   || X ||   || X ||   ||   ||   
 Special information programmes for vulnerable groups planned ||   || X ||   || X ||   ||   ||   
 Training sessions for personnel working with cash/in direct contact with public envisaged: 1. By public administration 2. By businesses ||   ||   ||   ||       X ||   ||   ||   
 Plans for the provision of information to SMEs by: 1.Public administration bodies 2.Professional associations, chambers of commerce, business advisors ||   ||         X ||   ||     X ||   ||   ||   
 Plans for the provision of information by credit institutions to their customers ||   ||   ||   || X ||   ||   ||   
 Plans to monitor progress in preparations by means of surveys ||   || X ||   || X ||   ||   ||   
 Article 3: Ensuring a quick introduction of euro cash 
 Planned dishoarding campaign aimed at citizens ||   || X ||   ||   ||   ||   ||   
 1. Frontloading 2. Sub-frontloading schedules put in place ||   ||   ||   ||   ||   ||   ||   
 Euro coin kits for retailers ||   ||   ||   ||   ||   ||   ||   
 Plans for financially attractive deferred debiting ||   ||   ||   ||   ||   ||   ||   
 Mini coin kits for citizens: 1. Production envisaged 2. At least 1 kit per household ||   ||   ||   ||   ||   ||   ||   
 ATMs should be adapted as of €-day ||   || X ||   ||   ||   ||   ||   
 Plans for temporary closure of ATMs that cannot be adapted for technical reasons ||   ||   ||   ||   ||   ||   ||   
 Giving of change in € only as of €-day ||   || X ||   || X ||   ||   ||   
 Plans for ad-hoc measures due to increased cash volume in sales outlets ||   ||   ||   ||   ||   ||   ||   
 POS terminals should be switched to euro as of €-day ||   || X ||   || X ||   ||   ||   
 Consumers will be encouraged to use electronic payment means ||   ||   ||   ||   ||   ||   ||   
 Plans for extra opening days in credit institutions around €-day ||   ||   ||   ||   ||   ||   ||   
 Plans for extended opening hours in credit institutions around €-day ||   ||   ||   ||   ||   ||   ||   
 Article 4: Prevention of abusive practices and wrong perceptions on price evolutions 
 Planned agreements on neutral impact of changeover on prices (e.g. Fair Pricing agreement) ||   || X ||   || X ||   ||   ||   
 Planned logo to identify the subscribers of the Fair Pricing agreement ||   ||   ||   || X ||   ||   ||   
 Planned advertisement for the Fair Pricing agreement logo ||   ||   ||   ||   ||   ||   ||   
 Close monitoring of compliance with commitments by subscribers planned ||   ||   ||   || X ||   ||   ||   
 Planned dissuasive measures for non-compliance with the Fair Pricing agreement ||   ||   ||   ||   ||   ||   ||   
 Planned monitoring of prices from the adoption of conversion rate until the end of dual display ||   ||   ||   || X ||   ||   ||   
 Regular publication of information on evolution of prices around €-day ||   ||   ||   ||   ||   ||   ||   
 Alignment of bank charges for payments in € with those applicable to payments in national currency before €-day ||   ||   ||   ||   ||   ||   ||   
ANNEX

   || Bulgaria || Czech Republic 
 Changeover organisation ||   ||   
 National target date for euro adoption || A target date has not been set. || A target date has not been set. 
 National co-ordinating institution ||   || The National Co-ordination Group (NCG) has six Working Groups (WGs) in charge of different areas of practical preparations. A National Co-ordinator for Euro Adoption was appointed by the Government in 2007. 
 (Approved) National Changeover Plan || A Common Agreement on euro adoption between the Government and the Bulgarian National Bank (2004) provides for the broad framework and the main principles of euro introduction: http://www.bnb.bg/bnbweb/groups/public/documents/bnb_law/agreements_bnb-cm_en.pdf   || The Czech Republic’s Euro Accession Strategy (as updated in August 2007): http://www.cnb.cz/www.cnb.cz/en/monetary_policy/strategic_documents/download/eurostrategy_070829.pdf The National Changeover Plan of 11 April 2007: http://www.zavedenieura.cz/cps/rde/xbcr/euro/NP_EN_06-08-07.pdf The most recent Progress Report on the fulfillment of the National Changeover Plan of 19 April 2010: http://www.zavedenieura.cz/cps/rde/xchg/euro/xsl/dokumenty_vladni_material_779.html 
 Changeover details ||   ||   
 Type of scenario ||   || "Big bang" 
 Dual circulation period ||   || Two weeks starting from €-day 
 Exchange of national banknotes and coins ||   || The Czech National Bank, commercial banks and other selected entities will exchange Czech korunas for the euro for at least six months after €-day. Subsequently, the legacy currency will only be exchanged at the Czech National Bank. The maximum length of the banknote exchange period is to be decided, while the coins will be exchangeable for a period of five years. 
 Campaign for rapid withdrawal of national banknotes and coins ||   || Depends on the day of the € introduction 
 Frontloading and sub-frontloading ||   || The frontloading of banks will start three months ahead of €-day and sub-frontloading of the non-financial sector will start one month before €-day. 
 ATMs issuing euro only ||   || Not planned yet 
 Change in euro only ||   || Yes 
 Dual display of prices ||   || The mandatory dual display of prices will be introduced within one month after the announcement of the official conversion rate and will continue for twelve months after the changeover date. The first version of the Recommendation on the dual display of prices was elaborated in 2009: http://www.zavedenieura.cz/cps/rde/xbcr/euro/Doporucene_postupy_dualni_oznacovani_cen__pdf.pdf 
 Consumer confidence building measures (e.g. voluntary Fair Pricing Agreements) ||   || A voluntary agreement with retailers (fair-pricing agreement) and a 'memorandum of understanding', to be signed by retail and services sector and consumer protection associations. These measures should be launched no later than one month after the announcement of the conversion rate. The basic principles of the price monitoring and control were elaborated by the Information Technology and Statistics WG in November 2009: http://www.zavedenieura.cz/cps/rde/xchg/euro/xsl/dokumenty_metodiky.html 
 Adaptation of national law ||   || The necessary adaptations of national law have been analysed by the Legislation Working Group of the National Coordination Group. On l March 2009 the Government decided to adopt an 'indirect' approach to adaptations of legal system, combined with individual adjustments of legal texts, if necessary. A general timetable of legal adjustments was elaborated with a view to introducing the euro. http://www.zavedenieura.cz/cps/rde/xbcr/euro/Priprava_pravniho_prostredi_na_zavedeni_eura_pdf.pdf 
 Euro banknotes and coins ||   ||   
 Design of the national side   ||   || Not planned yet 
 Number of different coin designs ||   || Not planned yet 
 Coin supplier ||   || Suppliers would be chosen via a public call for tender. 
 Estimate of the need for banknotes and coins ||   || Not planned yet 
 Communication activities ||   ||   
 Communication strategy ||   || A draft version was prepared in September 2009 by the Communication Working Group. 
 Activities ||   || The leaflet “Preparations of the Czech Republic for the adoption of the euro” was printed and distributed country-wide in June 2007. The conference “The euro – our future currency” was held in October 2007 in Prague. 
 Addresses of websites on euro changeover:   ||   || Government EU information department: http://www.euroskop.cz/euro Ministry of Finance: http:// www.mfcr.cz/euro National changeover website (in Czech and English): http:// www.zavedenieura.cz Czech National Bank: http://www.cnb.cz/en/international_relations/euro/ 
 Partnership agreement ||   ||   
 Other issues ||   || The guidelines on rounding and smoothing of prices prepared by the NCG Management Committee in October 2007, the estimate of budgetary costs of smoothing in the public sector published in March 2008 and the guidelines for the preparations of the banking sector for the introduction of euro prepared by the Financial Sector WG in 2008 and updated in 2009 are available at: http://www.zavedenieura.cz/cps/rde/xchg/euro/xsl/dokumenty_metodiky.html 
 ERM II entry ||   ||   
 Twinning agreement ||   || Following the twinning project between the National Bank of Belgium, the Czech Ministry of Finance and the Czech National Bank (2007-2008), another twinning project between the French authorities (Adetef), the Czech Ministry of Finance and the National Bank of Slovakia ended in 2011. 
   || Croatia || Hungary 
 Changeover organisation ||   ||   
 National target date for euro adoption || Croatia has not yet set the target date for euro adoption and the practical preparations have not yet been launched. || A target date has not been set. 
 National co-ordinating institution ||   || The National Euro Coordination Committee co-ordinating the practical preparations for the changeover is composed of high level representatives of Ministries, central governmental institutions and the Magyar Nemzeti Bank, the central bank of Hungary, responsible for the first phase of the practical preparation. 
 (Approved) National Changeover Plan ||   || National Changeover Plan (as updated in November 2009): http://www.mnb.hu/MNBEuro_Index/mnbhu_euro_main_1 
 Changeover details ||   ||   
 Type of scenario ||   || "Big-bang". 
 Dual circulation period ||   || Shorter than one month, exact length is to be decided 
 Exchange of national banknotes and coins ||   || The conditions and the length of the period for the exchange of national banknotes and coins are yet to be decided. However, in accordance with the prevailing law, forint coins and notes may be exchanged at face value at the Magyar Nemzeti Bank within five and twenty years, respectively, from the date when the forint is withdrawn from circulation (the end date of the dual circulation period). 
 Campaign for rapid withdrawal of national banknotes and coins ||   ||   
 Frontloading and sub-frontloading ||   || Conditions for frontloading and sub-frontloading to be established six months before €-day. Sub-frontloading to businesses: to be started several weeks before €-day, to be completed by €-day at the latest. 
 ATMs issuing euro only ||   ||   
 Change in euro only ||   || From €-day customers receive back all change in euro (including the dual circulation period) 
 Dual display of prices ||   || Compulsory: from the earliest possible date after the conversion rate is irrevocably fixed until the 30 June following €-day. 
 Consumer confidence building measures (e.g. agreements with retailers) ||   || Voluntary agreements on fair pricing should be signed with retailers and service providers. The signatories will be entitled to use a special logo. Prices should be regularly monitored by public institutions and organisations of consumers. The results of the monitoring are to be regularly communicated to citizens. 
 Adaptation of national law ||   || The National Plan provides for an 'umbrella law' plus individual adjustments of legal texts if necessary. 
 Euro banknotes and coins ||   ||   
 Design of the national side ||   || To be decided. 
 Nr of different coin designs ||   ||   
 Coin supplier ||   || To be decided. 
 Estimation on the need for banknotes and coins ||   || To be decided. 
 Communication activities ||   ||   
 Communication strategy ||   || The section on communication in the National Changeover Plan defines basic principles, actors, messages and target groups for the communication on the euro. 
 Addresses of websites on euro changeover: Government/Ministry of Finance; Central Bank ||   || Dedicated national euro website: Hungarian version: http://www.mnb.hu/Root/MNB/Euro_oldalak English version: http://english.mnb.hu/Root/ENMNB/Euro_oldalak 
 Partnership agreement ||     ||   
 Other issues ||   ||   
 ERM II entry ||   ||   
 Twinning agreement ||   || AT and HU on communication and information strategy (finalised). FR­- HU: A three day seminar on public sector preparations for the changeover, legal and communication issues was held in Budapest FR-SK-HU twinning programme started in 2010. 
   || Poland || Romania 
 Changeover organisation ||   ||   
 National target date for euro adoption || A target date has not been set. || 1 January 2019   
 National co-ordinating institution || The organisational structure for euro adoption comprises the National Coordination Committee for Euro Changeover, the Coordinating Council, as well as eight Working Committees and two Task Groups. The Committee and the Council are chaired by the Government Plenipotentiary for the Euro Adoption in Poland and co-chaired by the Plenipotentiary of the Management Board of Narodowy Bank Polski. Overall, more than 30 institutions are involved in the organisational structure for euro adoption in Poland. || The Interministerial Committee for Changeover to the Euro is composed of high level representative of Ministries and central governmental institutions. It is chaired by the Prime Minister and co-chaired by the Governor of the National Bank of Romania (NBR). 
 (Approved) National Changeover Plan || The Guidelines for National Euro Changeover Plan were published in 2010 after approval by the Council of Ministers. The National Euro Changeover Plan was approved in 2011 by European Committee of Council of Ministers. An update of NECP is under preparation. ||   
 Changeover details ||   ||   
 Type of scenario || Not decided yet. ||   
 Dual circulation period ||   ||   
 Exchange of national banknotes and coins ||   ||   
 Campaign for rapid withdrawal of national banknotes and coins ||   ||   
 Frontloading and sub-frontloading ||   ||   
 ATMs issuing euro only ||   ||   
 Change in euro only ||   ||   
 Dual display of prices || To be specified in the update of National Euro Changeover Plan. ||   
 Consumer confidence building measures (e.g. agreements with retailers) || To be specified in the update of National Euro Changeover Plan. ||   
 Adaptation of national law || A review of necessary amendments was prepared and is to be regularly updated by Working Committee for Legal Adjustments. ||   
 Euro banknotes and coins ||   ||   
 Design of the national side || To be specified in the update of National Euro Changeover Plan. ||   
 Nr of different coin designs ||   ||   
 Coin supplier ||   ||   
 Estimate of the need for banknotes and coins ||   ||   
 Communication activities ||   ||   
 Communication strategy || Prepared by the Working Committee for Communication Strategy in 2011 and approved by the Coordinating Council. To be published along with the update of National Euro Changeover Plan (as a supplementary document). || A draft communication strategy was prepared by the NBR in April 2011, just before the Interministerial Committee for Changeover to the Euro was created.     
 Activities || In cooperation with the European Commission, Narodowy Bank Polski has organised a travelling exhibition "Euro – a currency for Europe", with multiple stops in Polish regional capitals. The project started in 2012 and will be finished in December 2014. || In 2011 the NBR hosted the European Central Bank’s Euro Exhibition, with more than 6,500 visits in two months: http://www.bnr.ro/Expozitia-euro-6472.aspx   In June 2011 the EC, NBR and the Ministry of Public Finance have jointly organized the International Conference "Economic Governance in the EU": http://www.bnr.ro/Guvernanta-economica-in-UE--6993.aspx 
 Addresses of websites on euro changeover: Ministry of Finance/Government; Central Bank || Website of the Government Plenipotentiary for the Euro Adoption in Poland: www.euro.mf.gov.pl Website of Narodowy Bank Polski: www.nbp.pl/euro || On the NBR website there is a special section dedicated to euro adoption issues. http://www.bnr.ro/Procesul-de-pregatire-pentru-adoptarea-monedei-unice-europene-8012.aspx   
 Partnership agreement ||   ||   
 Other issues ||   ||   
 ERM II entry ||   ||   
 Twinning agreement || 2005-2006 DE-PL on communication and information strategy and other practical aspects of the changeover 2011-2012 Twinning agreement with Austria, the Netherlands and Slovakia. ||   
   || Sweden 
 Changeover plan ||   
 National target date for euro adoption || A target date has not been set. 
 National co-ordinating institution ||   
 (Approved) National Changeover Plan ||   
 Changeover details || 
 Type of scenario ||   
 Dual circulation period ||   
 Exchange of national banknotes and coins ||   
 Campaign for rapid withdrawal of national banknotes and coins ||   
 Frontloading and sub-frontloading ||   
 ATMs issuing euro only ||   
 Change in euro only ||   
 Dual display of prices ||   
 Consumer confidence building measures (e.g. agreements with retailers) ||   
 Adaptation of national law ||   
 Euro banknotes and coins ||   
 Design of the national side ||   
 Nr of different coin designs ||   
 Coin supplier ||   
 Estimation on the need for banknotes and coins ||   
 Communication activities ||   
 Communication strategy ||   
 Addresses of websites on euro changeover: Government/Ministry of Finance; Central Bank ||   
 Partnership agreement ||   
 Other issues ||   
 ERM II entry ||   
 Twinning agreement ||   
[1]               For previous Staff Working Documents on this subject
see http://ec.europa.eu/economy_finance/euro/adoption/preparing/index_en.htm.
[2]               Commission Staff Working Document accompanying the document
'Thirteenth Report on the practical preparations for the enlargement of the
euro area' – SWD(2013) 491 final, 3.12.2013.
[3]               Notified under document number C(2007) 6912 (OJ L 23,
26.1.2008, p. 30).