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Document 91997E003774

    WRITTEN QUESTION No. 3774/97 by Nikitas KAKLAMANIS to the Council. Necessary conditions for the introduction of the euro in the EU Member States

    OL C 158, 1998 5 25, p. 190 (ES, DA, DE, EL, EN, FR, IT, NL, PT, FI, SV)

    European Parliament's website

    91997E3774

    WRITTEN QUESTION No. 3774/97 by Nikitas KAKLAMANIS to the Council. Necessary conditions for the introduction of the euro in the EU Member States

    Official Journal C 158 , 25/05/1998 P. 0190


    WRITTEN QUESTION E-3774/97 by Nikitas Kaklamanis (UPE) to the Council (24 November 1997)

    Subject: Necessary conditions for the introduction of the euro in the EU Member States

    A heated controversy has broken out at European level about the important issue of whether or not it is compulsory for the currencies of Member States of the Union to enter the Exchange Rate Mechanism at least two years before these countries introduce the euro.

    Will the Council say whether the currencies of the countries which wish to adopt the euro at some point are obliged to participate in the Exchange Rate Mechanism, or whether Member States are not specifically and categorically required to do so if they wish to adopt the single currency and enter the third pase of Economic and Monetary Union (EMU)?

    Answer (16 February 1998)

    Those Member States which fulfil the necessary conditions for adoption of the single currency will be designated on the basis of Article 109j(4) of the EC Treaty.

    Subsequently, those Member States with a derogation which fulfil the necessary conditions on the basis of the criteria set out in Article 109j(1) of the Treaty shall have their derogations abrogated under the conditions laid down in Article 109k(2).

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