91997E3990

WRITTEN QUESTION E-3990/97 by Georges Berthu (I-EDN) to the Council (15 January 1998)

Subject: Euro bank notes - distinctive national symbols

On 3 December 1996 the EMI Council decided that the future euro bank notes should not bear any distinctive national symbols. If it is true that this matter falls well outside the task of 'technical preparation of ECU bank notes' (Article 109f(3)), and if it is also true that it is quite distinct from the monetary concept of 'the issue of bank notes' (Article 105a(1)), does the Council not agree that it would be appropriate to find another legal basis for it? Might it not be argued that this decision falls under Article 109l(4), which provides that 'the Council shall ... also take the other measures necessary for the rapid introduction of the ECU (Euro) as the single currency of (the) Member States'?

Indeed, would this not be the only interpretation which would make it possible to preserve Member States' control over an eminently political decision?

Joint answer to Written Questions E-3986/97, E-3987/97, E-3988/97, E-3989/97 and E-3990/97 (19 March 1998)

It ensues from the allocation of powers provided for under the Treaty that the European Central Bank alone is empowered to authorize the issue of banknotes in euro, also as regards aspects relating to their presentation (Article 105(a) of the Treaty and Article 16 of the Protocol to the Statute of the European System of Central Banks and of the European Central Bank).

At its meeting in Dublin on 13 and 14 December 1996, the European Council welcomed the designs for the euro banknotes presented to it by the European Monetary Institute.

The final decisions on the matter will be taken by the European Central Bank once it has been set up in accordance with the Treaty.