Fending off pressure from a handful of member states

Series Title
Series Details 15/04/99, Volume 5, Number 15
Publication Date 15/04/1999
Content Type

Date: 15/04/1999

the European Commission has refused to recommend a shortening of the three-year transition from national currency to euro notes and coins. A report commissioned by EU finance ministers concluded that the technical and legal obstacles to introducing the physical euro before January 2002 were too great. The Commission insists that lead times for the manufacture of notes and coins, changes to information technology systems, the complexity and extent of the changeover for public administrations and possible legal challenges to any decision to shortening the transition period all rule out the idea.

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