Brussels, 09/03/2001 (Agence Europe) - Commissioner Pedro Solbes, responsible for economic and monetary affairs, presented on Wednesday to the College of Commissioners, two information memorandums, one on the preparations for the transition to the Euro, the other on the activities carried out in this framework by the Commission. As we announced, Mr Solbes called for an intensification of the coordination between the actors involved (see EUROPE of 8 March, p.13).
The memorandum on the preparations for the final changeover provides details over the role of the three institutional centres: the Commission, the Council and the Eurosystem (ECB and national central banks of the Euro zone). The Commission takes on, among others, the coordination of the work of the Member States and ties links with the European professional federations, carries out the follow-up, (notably by establishing a monthly scoreboard on the state of readiness) and also a role of impetus and information. The Member States have set the main principals that frame the transition to the Euro (rules over the use of the Euro, timetable, etc.), which, noted the Commission, results in a relatively complex global picture: thus, for example, there are five different dates for the end of the legal exchanging of national currencies. The Member States are also responsible for the production of Euro coins and for communication on the Euro, each national campaign being jointly financed by the Commission to the maximum level of 50%. With the Eurosystem, the ECB is co-ordinating the national central banks for the logistical introduction of notes and coins, organising the prior supply and preparing a communication campaign (see EUROPE of 8 March, p.11). The memorandum includes an analysis of the state of readiness of companies, consumers, administrators, banks and the production of notes and coins. It will ascertain the state of progress in the public understanding and a lack of interest in the dual display of prices. However, one third of citizens still believe that the exchange rate of national currencies into the Euro is not yet fixed. For the future, Pedro Solbes calls for special attention to be given: 1) to the information efforts, especially targeting heads of SMEs; 2) the organisation by the state administrators of their own changeover towards the Euro (treatment of civil servants, anticipated changeover for public procurement); 3) the efforts to clarify, render less confusing the idea of the Euro as held by the consumer.
The memorandum on the Commission's activities in this preparation provides a more detailed approach to its four fold role of coordination follow-up, impetus and information.