Local view for "http://purl.org/linkedpolitics/eu/plenary/1999-12-02-Speech-4-090"
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"en.19991202.6.4-090"2
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"I welcome the report by Mrs Torres Marques with great satisfaction. She has made a relevant study of the technical difficulties that we still have to resolve in order to prepare properly for the introduction of the euro. We should not bury our heads in the sand and ignore the problems that are far from being completely resolved and public opinion is far from being ready.
That is why, today, following the example of the Economic and Financial Affairs Council of the European Commission and of our rapporteur, I also believe that the reduction of the three year transitional period could give rise to very considerable technical difficulties that may jeopardise the process of the smooth transition to the euro.
The technical obstacles that would present the greatest difficulties in reducing the transitional period are, in particular: the time limits for manufacturing the notes and coins in euros; the considerable scale of the changes to be made to computer systems and also the fact that the change to the euro for public administrations was planned for 2002 in order to take account of the complexity of the changes to be made in this sector.
Beyond these technical obstacles, making the transitional period shorter would jeopardise one of the strengths of the success of the euro which is the confidence associated with the economic and social factors (whose preparation is still inadequate) around a timetable that is precise and respected. I even say this myself as someone who was initially in favour of a tighter timetable.
With the same concern for the smooth transition to the euro, the Committee on Economic and Monetary Affairs made a proposal, one that I support, which aims to allow the consumer to start changing his national currency into coins and notes made out in euros from the beginning of December 2001. In the same way, the supply to the banks of coins and notes should start well before January 2002 and the supply to retailers and public administrations should occur from the beginning of December 2001.
Furthermore, from the second week of January 2002, retail businesses should only give change in euros rather than in the national currency. I also agree with Mrs Torres Marques when she rejects a legal obligation and only advocates a recommendation in this regard.
As far as the period beginning 1 January 2002 is concerned, where two currencies will be in circulation at the same time, a period which, under the terms of the Treaty could run for up to six months, I share the opinion of the rapporteur and the Economic and Financial Affairs Council that this period should be reduced to two months. For this, we should step up the active information campaigns for our citizens.
I shall conclude by stressing a problem that is continuing intolerably and which concerns bank charges and exchange charges. This contributes to creating unease among our citizens as to the actual advantages of the euro. I have, moreover, warned the Commission and the Council by means of written questions, but I have not received any reply to date. This is serious at a time when the euro is going through a crisis of confidence."@en1
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