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| Title |
Council Regulation (EC) No 974/98 (3 May 1998)
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| Document type |
Text
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| Source |
Council Regulation (EC) No 974/98 of 3 May 1998 on the introduction of the euro, in Official Journal of the European Communities (OJEC). 11.05.1998, No L 139, p. 1.
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| Keywords |
EC Regulation, ESCB, euro, European Central Bank
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| Copyright |
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| Caption |
The euro is the currency of account of the European Central Bank (ECB) and of the central banks of the participating Member States. Council Regulation (EC) No 974/98 of 3 May 1998 on the introduction of the euro, establishes that, with effect from 1 January 2002, the ECB and the central banks of the participating Member States place euro notes and coins into circulation. These notes and coins become the only legal tender in the Member States six months after the expiry of the transitional period at the latest.
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| Location in the digital library |
EUROPEAN ORGANISATIONS >> European Union >> The EU institutions >> European Central Bank >> Powers
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| Document extract |
Council Regulation (EC) No 974/98 of 3 May 1998 on the introduction of the euro
THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty establishing the European Community, and in particular Article 109l(4), third sentence thereof, Having regard to the proposal from the Commission ( 1 ), Having regard to the opinion of the European Monetary Institute ( 2 ), Having regard to the opinion of the European Parliament ( 3 ), (1) Whereas this Regulation defines monetary law provisions of the Member States which have adopted the euro; whereas provisions on continuity of contracts, the replacement of references to the ecu in legal instruments by references to the euro and rounding have already been laid down in Council Regulation (EC) No 1103/97 of 17 June 1997 on certain provisions relating to the introduction of the euro ( 4 ); whereas the introduction of the euro concerns day-to-day operations of the whole population in participating Member States; whereas measures other than those in this Regulation and in Regulation (EC) No 1103/97 should be examined to ensure a balanced changeover, in particular for consumers; (2) Whereas, at the meeting of the European Council in Madrid on 15 and 16 December 1995, the decision was taken that the (...) Read more in ENA |
| See also |
The third stage of Economic and Monetary Union
Protocol (No 18) on the Statute of the ESCB and of the ECB (7 February 1992) — Consolidated version 2006
Protocol (No 18) on the Statute of the ESCB and the ECB (7 February 1992) _ Consolidated version 2001
Wim Duisenberg unveils the euro banknotes (Frankfurt, 30 August 2001)
The Delors Report
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