Legal provisions of COM(2000)346-2 - Amendment of Regulation (EC) No 974/98 on the introduction of the euro - Main contents
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| dossier | COM(2000)346-2 - Amendment of Regulation (EC) No 974/98 on the introduction of the euro. |
|---|---|
| document | COM(2000)346  |
| date | November 27, 2000 |
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52000DC0346
Proposal for Council Regulation amending Regulation (EC) No 974/98 on the introduction of the euro /* COM/2000/0346 final */
COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL AND THE EUROPEAN CENTRAL BANK - secondary legislation relating to the euro and Greece
(presented by the Commission)
COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL AND THE EUROPEAN CENTRAL BANK - secondary legislation relating to the euro and Greece
On 3 May 2000, the Commission adopted a proposal for a Council Decision in accordance with Article 122 (2) of the Treaty, proposing that Greece fulfils the necessary conditions for the adoption of the single currency and that the derogation of Greece is abrogated with effect from 1 January 2001.
In case of a positive decision, the Council will subsequently have to adopt the conversion rate between the euro and the drachma which will take effect from 1 January 2001 and will have to take the other measures necessary for the introduction of the euro in Greece.
The Commission presents the respective proposals ahead of the decision of the Council on the abrogation of the derogation of Greece in order to ensure flexibility with respect to the date of adoption of the regulations by the Council.
The Communication includes proposals for:
* Council Regulation amending Council Regulation (EC) N° 974/98 on the introduction of the euro.
* Council Regulation amending Council Regulation (EC) N° 1103/97 on certain provisions relating to the introduction of the euro.
* Council Regulation amending Council Regulation (EC) N° 2866/98 on the conversion rates between the euro and the currencies of the Member States adopting the euro.