92001E1804

WRITTEN QUESTION P-1804/01

by Wolfgang Ilgenfritz (NI) to the Commission

(13 June 2001)

Subject: Support for euro conversion costs

Firms operating vending machines (e.g. peanut dispensers, games machines, etc) are particularly challenged by conversion to the euro. Costs that cannot as yet remotely be anticipated, e.g. for new banknote readers, programming units for coin checkers, licence fees, etc, will undoubtedly be incurred.

Since the very survival of these firms is at risk by reason of the enormous costs, it is vitally necessary for special assistance to be provided for them from the EU, and for the necessary funds to be made available to the operators concerned.

We therefore ask to be informed of the arrangements that will be made to channel funds to firms affected by this problem.

Answer given by Mr Solbes Mira on behalf of the Commission

(19 July 2001)

The Commission is well aware of the claims of the vending industry for compensation of the costs they believe they will bear due to the changeover to the euro. The Commission holds regular meetings with European representatives of the coin operated industry to discuss issues and possible solutions.

The Ministers of the euro area have reached a common position concerning such claims for compensation. The Ministers felt that changeover costs are an investment and should be borne by the sectors where they arise. The public sector is assuming its own costs; concurrently, the other sectors should each assume their own financial effort of adaptation.

The benefits provided by the introduction of the euro will persist over time while costs borne for the changeover are once-off and relatively small compared to the future gains for all business sectors.

Finally the euro coins are of a higher safety standard compared to the national coins and this will indeed help the coin operated industry to increase the level of security in their transactions.