Brussels, 01/10/2003 (Agence Europe) - On Tuesday, the European Commission adopted a common framework allowing the ban imposed since November 1998 on issuing commemorative euro coins to be lifted. It recommends that the Member States of the euro zone may, from next year on, use the national side of their two-euro coin to commemorate special events or personalities of Euroepan-wide or global importance. These commemorative two-euro coins will have legal tender throughout the euro zone. There is a long tradition of commemorative coins in the euro zone Member States. Nonetheless, in November 1998, the Council decided to suspend the issuing of commemorative coins during the first years of single currency in order to give citizens time to become familiar with the new coins and thus avoid causing doubt in the public's mind.
In the recommendation adopted, the Commission therefore recommends lifting the moratorium in 2004. It also recommends a common framework for commemorative euro coins. The main rules are: - the 2-euro coin should be the sole denomination used for such issues; - the number of issues should be limited to one per issuing State per year; - and the total number of coins put into circulation for each individual commemorative issue will be subject to ceilings included in the recommendation.
The Commission considers that the two-euro coin is the most appropriate for commemorative issues as it has a large diameter which makes it very apt for the representation of designs. It is also very advanced bi-metallic technology and further technical characteristics make it very difficult to reproduce by counterfeiters.
Furthermore, the Commission also proposes in its recommendation that Member State should refrain until end 2008 from changing the standard design of the national side of their euro coins. This -recommendation does not concern the common face of coins in euros. An exception to this rule is foreseen when the Head of State represented on a coin changes.