Bernard J. Durkan
Ceist:6 Mr. Durkan asked the Minister for Finance his views on whether the euro notes and coins should be introduced at an earlier date than that anticipated; and if he will make a statement on the matter. [5466/99]
Written Answers. - Euro Changeover.
The date for the introduction of euro notes and coins was decided in 1997 and is contained in Regulation (EC) No. 974/98, which provides for their introduction on 1 January 2002. An amendment to the regulation would be required to change the date and such an amendment would require the unanimity of the 11 member states which have adopted the euro.
An idea floated by the Belgian Finance Minister to bring forward the date for the introduction of euro notes and coins was informally discussed at the Council of Economic and Finance Ministers in Brussels last month. The European Commission was invited to carry out a final review of the question but the majority of Ministers did not favour changing the date.
In the discussions leading up to the decision to introduce euro notes and coins on 1 January 2002, Ireland and the Netherlands argued against a date of 1 January, because it is close to Christmas and new year sales are being held. However, no other country supported a date other than 1 January
I would have been prepared to support an examination of the possibility of a new date now provided it could be shown that a new and earlier date was feasible at this stage in view of the preparations already made on the basis of 1 January 2002 and that unanimous agreement could quickly be reached. However, the majority of the euro member states do not support changing the date and I do not feel, therefore, that there is a realistic prospect that the date will be changed.