(2004/C 65 E/213)

WRITTEN QUESTION E-2712/03

by Kathleen Van Brempt (PSE) to the Commission

(11 September 2003)

Subject:   Counterfeit money

The introduction of the euro did not result in large amounts of counterfeit money in the first year. This now seems to have changed.

Can the Commission provide a review of the trend in counterfeit notes and coins since the introduction of the euro including a detailed breakdown of the figures?

What action is the Commission taking to tackle the counterfeiting of euro notes and coins?

Answer given by Ms Schreyer on behalf of the Commission

(23 October 2003)

The following information is based on particulars provided by the European Central Bank (ECB), Europol and the Commission.

In 2002 a total of 167 118 counterfeit euro notes and 2 339 counterfeit euro coins were withdrawn from circulation. The number of notes is equivalent to less than one quarter of the total number of national counterfeit notes reported to the national central banks in the euro area in 2001.

The tables giving the breakdown of counterfeit notes and coins by denomination in 2002 are being sent direct to the Honourable Member and to Parliament's Secretariat.

In the first half of 2003, 230 534 counterfeit euro notes and 7 875 counterfeit euro coins were withdrawn from circulation.

As expected, the counterfeiting of euro notes has increased in 2003 compared with 2002, but the situation has begun to stabilise in recent months. However, since around EUR 8,2 billion authentic notes are in circulation, the volume of counterfeit notes is very small and there is no risk of public confidence in the notes in circulation being undermined.

The counterfeiting of euro coins has also increased, as indicated by the high number of counterfeit coins found to be in circulation in 2003. None the less, the volume of counterfeit coins is very small compared with the 41 billion authentic coins in circulation and there is no risk of public confidence in euro coins either being undermined.

The tables giving the breakdown of counterfeit notes and coins by denomination for the first half of 2003 are being sent direct to the Honourable Member and to Parliament's Secretariat.

Since the introduction of euro notes and coins, twelve illegal printing works have been closed down, ten in the euro area and two outside. Three illegal workshops equipped to produce counterfeit euro coins have also been shut down, two in Italy and one in Portugal. In one of the illegal workshops in Italy, more than 70 000 counterfeit 50-cent coins and all the production equipment were seized.

In all, 1 031 individuals, whether under suspicion or arrested, have been identified as being responsible for producing and/or distributing counterfeit euro notes.

Protection of euro notes and coins is the responsibility of the competent national authorities, the European Central Bank, Europol and the Commission.

The Commission exercises its responsibility in three fields:

In order to carry out its task, the Commission cooperates closely with Member States and with the other European institutions and has set up several working groups.

(1)  Council Regulation (EC) No 1338/2001 of 28 June 2001 laying down measures necessary for the protection of the euro against counterfeiting, OJ L 181, 4.7.2001.