COM(2009)359 - Report on the functioning of the Monetary Agreements with Monaco, San Marino and Vatican

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Contents

  1. Key information
  2. Key dates
  3. Related information
  4. Full version
  5. EU Monitor

1.

Key information

official title

Communication from the Commission to the Council Report on the functioning of the Monetary Agreements with Monaco, San Marino and Vatican
 
Legal instrument Communication
reference by COM-number33 COM(2009)359 EN
Additional COM-numbers COM(2009)359
CELEX number36 52009DC0359

2.

Key dates

Document 14-07-2009
Online publication 14-07-2009

3.

Related information

 

4.

Full version

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5.

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  • 1. 
    Declaration N° 6 concerning the monetary relations with San Marino, Vatican and Monaco.

     
  • 2. 
    Council Conclusions on Common guidelines for the national sides and the issuance of euro coins intended for circulation, 2922nd ECOFIN Council meeting of 10 February 2009.

     
  • 3. 
    French francs had had the status of legal tender in Monaco since 1925. The Principality was using French franc banknotes and coins and was entitled to issue its own franc coins up to a certain ceiling (they were legal tender only within the territory of Monaco). The monetary links between Italy and San Marino were governed by the Friendship and Good-Neighbourhood Convention signed in 1939, and the Monetary Convention governing the monetary relations between Italy and the Vatican City State was signed in 1929. Both Conventions were renewable every ten years and entitled San Marino and Vatican to issue lira coins which had status of legal tender in Italy.

     
  • 4. 
    Monetary Agreement between the Government of the French Republic, on behalf of the Community, and the Government of His Serene Highness the Prince of Monaco (OJ L 142 of 31 May 2002).

     
  • 5. 
    Monetary Agreement between the Italian Republic, on behalf of the European Community, and the Republic of San Marino (OJ C 209 of 27.7.2001). Monetary Agreement between the Italian Republic, on behalf of the Community, and the Vatican City State and, on its behalf, the Holy See, (OJ C 299 of 25.10.2001).

     
  • 6. 
    A monetary unit used on the Apennine peninsula until the 19th century.

     
  • 7. 
    Framework Decision of 29 May 2000 on increasing protection by criminal penalties and other sanctions (2000/383/JHA, OJ L 140, 14.6.2000) and Council Regulation laying down measures necessary for the protection of the euro against counterfeiting (1338/2001, OJ L 181, 4.7.2001).

     
  • 8. 
    The Monetary Agreements incorporated the methodology which was used for fixing the ceilings of issuance in the Monetary Conventions existing before the introduction of the euro.

     
  • 9. 
    San Marino has for instance concentrated on striking selected euro denomination coins with some success: these coins are now used at face value for transactions.

     
  • 10. 
    In 2008, the average net issuance in the euro area was
     
  • 11. 
    See footnote 2.

     
  • 12. 
    An agreement is being discussed with the Principality of Andorra.

     
  • 13. 
    10 euro area Mints export coins.

     
  • 14. 
    The country who's Mint would produce euro coins for a country having signed a Monetary Agreement would add these coins to the volume of coins it plans to issue for its own use for the purpose of the ECB approval of the total volume of issuance, in line with the existing practice. The rights of issuance of the euro-area Member State in question would not be reduced, the volume of issuance having no a priori limit.

     
  • 15. 
    Sources: ECB (cumulative net issuance) for EU countries; relevant institutions in France and Italy for the three third countries.

     
  • 16. 
    Sources: Eurostat for EU countries; CIA fact book (July 2009 estimates) for the three third countries.

     
  • 17. 
    Declaration N° 6 concerning the monetary relations with San Marino, Vatican and Monaco.

     
  • 18. 
    Council Conclusions on Common guidelines for the national sides and the issuance of euro coins intended for circulation, 2922nd ECOFIN Council meeting of 10 February 2009.

     
  • 19. 
    French francs had had the status of legal tender in Monaco since 1925. The Principality was using French franc banknotes and coins and was entitled to issue its own franc coins up to a certain ceiling (they were legal tender only within the territory of Monaco). The monetary links between Italy and San Marino were governed by the Friendship and Good-Neighbourhood Convention signed in 1939, and the Monetary Convention governing the monetary relations between Italy and the Vatican City State was signed in 1929. Both Conventions were renewable every ten years and entitled San Marino and Vatican to issue lira coins which had status of legal tender in Italy.

     
  • 20. 
    Monetary Agreement between the Government of the French Republic, on behalf of the Community, and the Government of His Serene Highness the Prince of Monaco (OJ L 142 of 31 May 2002).

     
  • 21. 
    Monetary Agreement between the Italian Republic, on behalf of the European Community, and the Republic of San Marino (OJ C 209 of 27.7.2001). Monetary Agreement between the Italian Republic, on behalf of the Community, and the Vatican City State and, on its behalf, the Holy See, (OJ C 299 of 25.10.2001).

     
  • 22. 
    A monetary unit used on the Apennine peninsula until the 19th century.

     
  • 23. 
    Framework Decision of 29 May 2000 on increasing protection by criminal penalties and other sanctions (2000/383/JHA, OJ L 140, 14.6.2000) and Council Regulation laying down measures necessary for the protection of the euro against counterfeiting (1338/2001, OJ L 181, 4.7.2001).

     
  • 24. 
    The Monetary Agreements incorporated the methodology which was used for fixing the ceilings of issuance in the Monetary Conventions existing before the introduction of the euro.

     
  • 25. 
    San Marino has for instance concentrated on striking selected euro denomination coins with some success: these coins are now used at face value for transactions.

     
  • 26. 
    In 2008, the average net issuance in the euro area was
     
  • 27. 
    See footnote 2.

     
  • 28. 
    An agreement is being discussed with the Principality of Andorra.

     
  • 29. 
    10 euro area Mints export coins.

     
  • 30. 
    The country who's Mint would produce euro coins for a country having signed a Monetary Agreement would add these coins to the volume of coins it plans to issue for its own use for the purpose of the ECB approval of the total volume of issuance, in line with the existing practice. The rights of issuance of the euro-area Member State in question would not be reduced, the volume of issuance having no a priori limit.

     
  • 31. 
    Sources: ECB (cumulative net issuance) for EU countries; relevant institutions in France and Italy for the three third countries.

     
  • 32. 
    Sources: Eurostat for EU countries; CIA fact book (July 2009 estimates) for the three third countries.

     
  • 33. 
    De Europese Commissie kent nummers toe aan officiële documenten van de Europese Unie. De Commissie maakt onderscheid in een aantal typen documenten door middel van het toekennen van verschillende nummerseries. Het onderscheid is gebaseerd op het soort document en/of de instelling van de Unie van wie het document afkomstig is.
     
  • 34. 
    De Raad van de Europese Unie kent aan wetgevingsdossiers een uniek toe. Dit nummer bestaat uit een vijfcijferig volgnummer gevolgd door een schuine streep met de laatste twee cijfers van het jaartal, bijvoorbeeld 12345/00 - een document met nummer 12345 uit het jaar 2000.
     
  • 35. 
    Het interinstitutionele nummer is een nummerreeks die binnen de Europese Unie toegekend wordt aan voorstellen voor regelgeving van de Europese Commissie.
    Binnen de Europese Unie worden nog een aantal andere nummerseries gebruikt. Iedere instelling heeft één of meerdere sets documenten met ieder een eigen nummering. Die reeksen komen niet overeen met elkaar of het interinstitutioneel nummer.
     
  • 36. 
    Deze databank van de Europese Unie biedt de mogelijkheid de actuele werkzaamheden (workflow) van de Europese instellingen (Europees Parlement, Raad, ESC, Comité van de Regio's, Europese Centrale Bank, Hof van Justitie enz.) te volgen. EURlex volgt alle voorstellen (zoals wetgevende en begrotingsdossiers) en mededelingen van de Commissie, vanaf het moment dat ze aan de Raad of het Europees Parlement worden voorgelegd.
     
  • 37. 
    Als dag van bekendmaking van een Europees besluit geldt de dag waarop het besluit in het Publicatieblad wordt bekendgemaakt, en daardoor in alle officiële talen van de Europese Unie bij het Publicatiebureau beschikbaar is.