Luxembourg, 26/10/2004 (Agence Europe) - The Council has decided to open negotiations with Andorra to allow the country to use and mint Euros. Negotiations will be supervised by the European Commission, in association with the European Central Bank and bordering countries, France and Spain.
Euro participation was requested by the principality during negotiations on savings taxes and an agreement to apply income tax and taxes on savings invested in Andorra by Community residents. The Council has explained that negotiations will be suspended if Andorra does not ratify the agreement on savings tax before 30 April 2005.