92003E0469

WRITTEN QUESTION E-0469/03

by Juan Naranjo Escobar (PPE-DE) to the Commission

(20 February 2003)

Subject: Conversion to the euro

Now that the first anniversary of the introduction of the euro has passed we can see that the actual conversion process was fast but that people have still not adjusted mentally. Most citizens of the euro zone are still calculating prices in their national currencies.

The fact that payment is in euros only does not mean that people have forgotten the old currencies. The great majority of users of the new currency have yet to adjust mentally.

Does the Commission intend to make tangible proposals to try to solve the problem of mental adjustment to the euro?

Does it consider that the displaying of prices in both currencies has had a positive effect? Will it recommend this practice to future members of the monetary union?

Answer given by Mr Solbes Mira on behalf of the Commission

(26 March 2003)

The Commission agrees with the Honourable Member that the psychological switch to the euro of citizens is a gradual process. The Eurobarometer, a survey regularly conducted on behalf of the Commission, showed in November 2002 that 42,2 % of the euro area respondents calculate most often in euro when they purchase everyday goods. Conversely, 32,4 % indicated to still think more often in national currency. These rates drop significantly as far as major purchases (e.g. a house or a car) are concerned. In these cases only 12,5 % of respondents calculate most often in euro on average in the euro area.

The Commission acknowledges that a complete mental switch to the euro necessarily takes some time. However, in order to speed up this process the Commission has recommended in agreement with EuroCommerce in its recent Communication(1) to the sectors concerned to gradually phase-out the dual display of prices and to discontinue it by 30 June 2003 at the latest, while informing their customers well in advance of this change.

(1) The introduction of euro banknotes and coins one year after, COM(2002) 747 final of 19 December 2002.