Progress: Procedure completed
Role | Committee | Rapporteur | Shadows |
---|---|---|---|
Lead | ECON | MARTIN Hans-Peter ( NA) | GAUZÈS Jean-Paul ( PPE), PADAR Ivari ( S&D), IN 'T VELD Sophia ( ALDE), GIEGOLD Sven ( Verts/ALE) |
Lead committee dossier:
Legal Basis:
TFEU 133
Legal Basis:
TFEU 133Events
PURPOSE: to introduce binding rules for the issuance of euro coins.
LEGISLATIVE ACT: Regulation (EU) No. 651/2012 of the European Parliament and of the Council on the issuance of euro coins.
CONTENT: following an agreement reached with the European Parliament in first reading, the Council adopted a Regulation that introduces binding rules for the issuance of euro coins for circulation, and for commemorative and collection purposes.
The Regulation stipulates:
circulation coins, for the most part, shall be issued and put into circulation at face value; each Member State whose currency is the euro may only issue two commemorative 2-euro coins per year to commemorate special occasions; collector coins shall have the status of legal tender only in the issuing Member State . The identity of the issuing Member State shall be clearly and easily recognisable on the coin; the Commission shall conduct an impact assessment on the continued issuance of 1- and 2-cent coins; in order to avoid that fit euro circulation coins are destroyed by one Member State while there may be a need of such coins in another, Member States should consult each other prior to the destruction of such coins.
ENTRY INTO FORCE: 13/08/2012.
The European Parliament adopted by 612 votes to 28 with 16 abstentions, a legislative resolution on the proposal for a regulation of the European Parliament and of the Council on the issuance of euro coins. Parliament adopted its position in first reading following the ordinary legislative procedure. The amendments adopted in plenary are the result of a compromise between Parliament and Council. They amend the Commission proposal as follows:
Collector coins: collector coins shall have the status of legal tender only in the issuing Member State and are not issued with a view to their entry into circulation . If their images are similar to any national side of circulation coins, their overall appearance can still be easily differentiated.
Member States shall take all appropriate measures to discourage the use of collector coins as a means of payment.
Types of euro coin: the Commission shall conduct an impact assessment on the continued issuance of 1 and 2 cent coins. That impact assessment shall include a cost-benefit analysis which takes into account the real production costs of those coins set against their value and benefits.
Issuance of circulation coins : the amended text states that circulation coins shall be issued and put into circulation at face value. A minor proportion, not exceeding 5 % of the cumulated total net value and volume of circulation coins issued by a Member State, taking into account only years with positive net issuance, may be put on the market above face value if justified by the special quality of the coin, a special packaging or any additional services provided.
Issuance of commemorative coins : each Member State whose currency is the euro may only issue two commemorative coins per year , save where, for example commemorative coins are collectively issued by all Member States whose currency is the euro.
The total number of commemorative coins put into circulation for each individual issue shall not exceed the higher of the following two ceilings :
· 1% of the cumulated total net number of 2-euro coins put into circulation by all Member States whose currency is the euro up to the beginning of the year preceding the year of issuance of the commemorative coin; this ceiling may be raised to 2,0 % of the cumulated total net number of EUR 2 coins of all Member States whose currency is the euro if a widely recognised and highly symbolic subject is commemorated, in which case the issuing Member State shall refrain from launching another commemorative coin issue using the raised ceiling during the subsequent four years and shall set out the reasons for choosing the raised ceiling; or
· 5.0 % of the cumulated total net number of EUR 2 coins put into circulation by the Member State concerned up to the beginning of the year preceding the year of issuance of the commemorative coin.
The decision whether to issue commemorative coins with a common design collectively issued by all Member States whose currency is the euro shall be taken by the Council. The voting rights of the Member States whose currency is not the euro shall be suspended for the adoption of that decision.
The Committee on Economic and Monetary Affairs adopted the report by Hans-Peter MARTIN (NI, AT) on the proposal for a regulation of the European Parliament and of the Council on the issuance of euro coins. The committee recommends that the position of the European Parliament in first reading following the ordinary legislative procedure should be to amend the Commission proposal, as follows:
Definition: Members consider that the current definition of euro circulation coins should be clarified and a separate definition for regular euro circulation coins should be added to avoid any ambiguity in relation to this terminology. "Euro circulation coins " is defined as regular euro circulation coins and commemorative euro circulation coins, intended for circulation, whose denominations and technical specifications are laid down in Council Regulation (EC) No 975/98.
A definition of “regular euro circulation coins” is inserted, meaning euro coins intended for circulation excluding commemorative euro circulation coins. The definition of "Euro collector coins" is deleted, since the amended definition of ‘euro circulation coins’ explicitly comprises the commemorative euro coins intended for circulation.
Impact assessments : the committee states the Commission shall conduct impact assessments on:
· the continued issuance of 1 and 2 cent coins. That impact assessment shall include a cost-benefit analysis which takes into account the real production costs of 1 and 2 cent coins set against their value and benefits;
· on the possible issuance of EUR 1 and EUR banknotes. Following this impact, the Commission shall draft a report setting out the advantages and disadvantages of issuing EUR 1 and EUR 2 banknotes.
Issuance of commemorative euro circulation coins: each participating Member State may only issue one commemorative euro circulation coin every six months, (rather than every year.)
Issuance of euro collector coins : Members state that Euro collector coins may be sold at or above face value, which reflects the agreement of Member States reached at the Ecofin Council meeting on 5 November 2002, allowing the sale of euro collector coins above face value.
Consultation prior to the destruction of euro circulation coins : the report specifies that Member State shall indicate which type of coin (euro circulation coin, euro collector coin or euro commemorative coin) is to be destroyed as this will directly affect the ceilings established in the provisions on issuance of commemorative euro circulation coins.
OPINION OF THE EUROPEAN CENTRAL BANK on a proposal for a Regulation on the issuance of euro coins and on a proposal for a Regulation on denominations and technical specifications of euro coins intended for circulation.
On 28 June 2011, the European Central Bank (ECB) received a request from the European Parliament for an opinion on a proposal for a Regulation of the European Parliament and of the Council on the issuance of euro coins.
On 5 July 2011, the ECB received two further requests from the Council of the European Union for an opinion on: (a) the proposed regulation; and (b) a proposal for a Council Regulation amending Regulation (EC) No 975/98 of 3 May 1998 on denominations and technical specifications of euro coins intended for circulation.
The ECB understands that: (i) the proposed regulation is intended to codify the current Union non-binding legal instruments and conclusions regarding the issuance of euro coins; (ii) in laying down general provisions for the issuance of euro coins at Union level, the objective is to harmonise relevant practices among Member States and ensure legal certainty and transparency.
The ECB makes the following remarks:
The ECB notes that according to Article 128(2) of the TFEU , the issuance of euro coins is the responsibility of the participating Member States, whilst the Parliament and the Council have the competence to lay down the measures necessary for the use of the euro as the single currency pursuant to Article 133 of the TFEU. In addition, the Council may, according to Article 128(2) of the TFEU, adopt measures to harmonise the denominations and technical specifications of all coins intended for circulation to the extent necessary to permit their smooth circulation within the Union.
Hence, the adoption of Union legislation on euro coin issuance must respect the participating Member States’ competence to issue euro coins and their capacity as legal issuers of euro coins .
In addition, while the ECB’s tasks and responsibilities under the TFEU and the Statute of the European System of Central Banks and of the European Central Bank are not affected in the context of the proposed regulation, the ECB recommends that any Member States’ concerns on euro coin issuance competences should be addressed between the concerned Member States and the Union in accordance with the principle of sincere cooperation under the Treaty on European Union.
The ECB considers it advisable to harmonise the terminology used throughout the proposed regulation. In particular, the terms ‘issue’ and ‘put/bring into circulation’ are not defined in the proposed regulation. Nevertheless, in its drafting proposals, the ECB leaves it to the Commission to decide on this linguistic issue.
The ECB suggests:
clarifying the current definition of euro circulation coins should be clarified and a separate definition for regular euro circulation coins should be added to avoid any ambiguity in relation to this terminology; stipulating that Member States shall take all appropriate measures to prevent discourage euro collector coins from being used as means of payments.
Lastly, the ECB reiterates its previous recommendation on modifying the technical specifications set out in Annex I to Regulation (EC) No 975/98 on denominations and technical specifications of euro coins intended for circulation. Amendments are as follows:
maintaining the national traditions of the Member States in relation to the issuance of commemorative euro circulation coins;
the ECB understands that Article 1h(a) of the Regulation covers euro circulation coins with legal tender status prior to the entry into force of the amending regulation, whereas Article 1h(b) sets a transitional period for changing the stamps for the designs on euro circulation coins in compliance with the new design requirements. In this respect, the ECB advises replacing the word ‘issued’ with the word ‘produced’ in Article 1h(a). This would extend the exclusion scope of this draft provision to also cover the stocks of euro circulation coins already minted by the competent authorities of the participating Member States but not having legal tender status at the time of entry into force of the proposed amending regulation. In that way, a legal safeguard would be established for all the costs that Eurosystem national central banks may have incurred in relation to the production of euro circulation coins that have not yet obtained the status of legal tender up to the moment of entry into force of the proposed amending regulation. The ECB also notes that euro circulation coins issued during the transition period under Article 1h(b) would keep their legal tender status even after the expiry of the transition period.
PURPOSE: to introduce binding rules for the issuance of euro coins.
PROPOSED ACT: Regulation of the European Parliament and of the Council.
BACKGROUND: the Council conclusions of 23 November 1998 and of 5 November 2002 on euro coins intended for collection, the Commission Recommendation 2009/23/EC on common guidelines for the national sides and the issuance of euro coins intended for circulation, and the Commission Recommendation 2010/191/EU on the scope and effects of legal tender of euro banknotes and coins, provide for recommended practices regarding euro collector coins, the issuance of euro coins intended for circulation, including commemorative circulation coins, and consultation prior to the destruction of fit euro circulation coins.
The lack of mandatory provisions for issuance of euro coins may result in different practices among Member States and does not achieve a sufficiently integrated framework for the single currency. In the interest of legal transparency and certainty, it is therefore necessary to introduce binding rules for the issuance of euro coins.
IMPACT ASSESSMENT: no impact assessment was carried out.
LEGAL BASIS: Article 133 of the Treaty on the Functioning of the European Union (TFEU).
CONTENT: this proposed Regulation lays down rules on the issuance of euro circulation coins, including commemorative circulation coins, on the issuance of euro collector coins, and on consultation prior to the destruction of fit euro circulation coins.
The main elements of the proposal are as follows:
Apart from regular euro circulation coins, Member States may also issue commemorative euro circulation coins to celebrate specific subjects, subject to limits set per year and issuing Member State for the number of issues of such coins. The proposal establishes certain volume limits for commemorative circulation coins in order to ensure that such coins remain a minor percentage of the total number of the 2-euro coins in circulation. At the same time, these volume limits should allow for the issuance of a sufficient volume of coins to ensure that commemorative coins can circulate effectively. Member States should also be able to issue euro collector coins, which are not intended for circulation and which should be readily distinguishable from euro circulation coins. Euro collector coins should have legal tender status only in the Member State of issuance and should not be issued with a view to their entry into circulation. In order to ensure that euro collector coins are not confused with euro circulation coins they should be readily distinguishable from the latter. It is furthermore appropriate that issuances of euro collector coins are accounted for in the volume of coins to be approved by the European Central Bank (ECB), but on an aggregate basis rather than for each individual issue. It is appropriate and in line with common practice among participating Member States that euro circulation coins, including commemorative circulation coins, should be put into circulation at face value, although a minor proportion may be sold at a higher price if produced with a special quality or presented in special packaging. In order to avoid that fit euro circulation coins are destroyed by one Member State while there may be a need of such coins in another, Member States should consult each other prior to the destruction of such coins.
BUDGETARY IMPLICATIONS: the proposal has no implication for the Union budget.
Documents
- Final act published in Official Journal: Regulation 2012/651
- Final act published in Official Journal: OJ L 201 27.07.2012, p. 0135
- Commission response to text adopted in plenary: SP(2012)488
- Contribution: COM(2011)0295
- Draft final act: 00023/2012/LEX
- Results of vote in Parliament: Results of vote in Parliament
- Decision by Parliament, 1st reading: T7-0210/2012
- Committee report tabled for plenary, 1st reading: A7-0439/2011
- Amendments tabled in committee: PE475.845
- Committee draft report: PE473.801
- European Central Bank: opinion, guideline, report: CON/2011/0065
- European Central Bank: opinion, guideline, report: OJ C 273 16.09.2011, p. 0002
- Legislative proposal published: COM(2011)0295
- Legislative proposal published: EUR-Lex
- European Central Bank: opinion, guideline, report: CON/2011/0065 OJ C 273 16.09.2011, p. 0002
- Committee draft report: PE473.801
- Amendments tabled in committee: PE475.845
- Draft final act: 00023/2012/LEX
- Commission response to text adopted in plenary: SP(2012)488
- Contribution: COM(2011)0295
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- 2016/11/22 Explanations of vote
- Licia RONZULLI
Plenary Speeches (3)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Michèle STRIFFLER
Plenary Speeches (3)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Ramon TREMOSA i BALCELLS
Plenary Speeches (3)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Frank VANHECKE
Plenary Speeches (3)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Alfredo ANTONIOZZI
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Raffaele BALDASSARRE
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Jean-Luc BENNAHMIAS
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Vito BONSIGNORE
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Antonio CANCIAN
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Nikolaos CHOUNTIS
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Anna Maria CORAZZA BILDT
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Ioan ENCIU
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Louis GRECH
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Nathalie GRIESBECK
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Mikael GUSTAFSSON
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Małgorzata HANDZLIK
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Jim HIGGINS
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Salvatore IACOLINO
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Sergej KOZLÍK
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Constance LE GRIP
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Petru Constantin LUHAN
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Iosif MATULA
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Cristiana MUSCARDINI
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Marit PAULSEN
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Mario PIRILLO
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Phil PRENDERGAST
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Robert ROCHEFORT
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Olle SCHMIDT
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Derek VAUGHAN
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Jacek WŁOSOWICZ
Plenary Speeches (2)
- 2016/11/22 Explanations of vote
- 2016/11/22 Explanations of vote
- Liam AYLWARD
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Zoltán BAGÓ
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Paolo BARTOLOZZI
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Zuzana BRZOBOHATÁ
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Andrea ČEŠKOVÁ
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Philip CLAEYS
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- António Fernando CORREIA DE CAMPOS
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Marielle DE SARNEZ
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Göran FÄRM
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Christofer FJELLNER
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Bruno GOLLNISCH
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Mathieu GROSCH
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Anna HEDH
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Marian HARKIN
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Anna IBRISAGIC
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Kent JOHANSSON
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Krišjānis KARIŅŠ
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Tunne KELAM
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Eija-Riitta KORHOLA
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Elisabeth KÖSTINGER
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Edvard KOŽUŠNÍK
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Kartika Tamara LIOTARD
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Olle LUDVIGSSON
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Barbara MATERA
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Gay MITCHELL
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Vital MOREIRA
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Claudio MORGANTI
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Radvilė MORKŪNAITĖ-MIKULĖNIENĖ
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Rareș-Lucian NICULESCU
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Jens NILSSON
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Franz OBERMAYR
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Alojz PETERLE
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Fiorello PROVERA
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Mitro REPO
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Joanna SENYSZYN
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Olga SEHNALOVÁ
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Søren Bo SØNDERGAARD
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Laurence J.A.J. STASSEN
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Georgios STAVRAKAKIS
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Alf SVENSSON
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Rafał TRZASKOWSKI
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Oldřich VLASÁK
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Jarosław WAŁĘSA
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Åsa WESTLUND
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Cecilia WIKSTRÖM
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
- Janusz ZEMKE
Plenary Speeches (1)
- 2016/11/22 Explanations of vote
Amendments | Dossier |
5 |
2011/0131(COD)
2011/10/31
ECON
5 amendments...
Amendment 25 #
Proposal for a regulation Recital 8 a (new) (8a) The Commission should conduct an impact assessment on the continued issuance of 1 and 2 euro cent coins because their use may be considered to be negligible. Such an impact assessment should take into account the real cost of those euro cent coins.
Amendment 26 #
Proposal for a regulation Article 1 – paragraph 1 This Regulation lays down rules, adopted by consensus, on the issuance of euro circulation coins, including commemorative circulation coins, on the issuance of euro collector coins, and on consultation prior to the destruction of fit euro circulation coins.
Amendment 27 #
Proposal for a regulation Article 3 – paragraph 1 a (new) The Commission shall conduct an impact assessment on the continued issuance of 1 and 2 euro cent coins. Such an impact assessment shall include a cost-benefit analysis which takes into account the real production costs of 1 and 2 euro cent coins set against their value and benefits.
Amendment 28 #
Proposal for a regulation Article 6 – paragraph 1 – subparagraph 1 Amendment 29 #
Proposal for a regulation Article 6 – paragraph 2 a (new) (2a) The designs must not be insulting or offensive to the religious alignments of other Member States;
source: PE-475.845
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