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Art

Feb 8 2006, 04:53 PM

<H1><CENTER>Euro Countries w/Coin Status</CENTER></H1>
<Table border>
<TR ALIGN="center" VALIGN="bottom">
<TD BGCOLOR=#FFFF99>Country</TD>
<TD BGCOLOR=#FFFF99>Coinage</TD>
<TD BGCOLOR=#FFFF99>Notes</TD>
</TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#FFFF99 ALIGN="left">Austria</TD> <TD BGCOLOR=#FFFF99 ALIGN="center">2002</TD> <TD BGCOLOR=#FFFF99 ALIGN="right"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#FFFF99 ALIGN="left">Belgium</TD> <TD BGCOLOR=#FFFF99 ALIGN="center">1999</TD> <TD BGCOLOR=#FFFF99 ALIGN="left"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#FFFF99 ALIGN="left">Finland</TD> <TD BGCOLOR=#FFFF99 ALIGN="center">1999</TD> <TD BGCOLOR=#FFFF99 ALIGN="left"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#FFFF99 ALIGN="left">France</TD> <TD BGCOLOR=#FFFF99 ALIGN="center">1999</TD> <TD BGCOLOR=#FFFF99 ALIGN="left"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#FFFF99 ALIGN="left">Germany</TD> <TD BGCOLOR=#FFFF99 ALIGN="center">2002</TD> <TD BGCOLOR=#FFFF99 ALIGN="left"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#FFFF99 ALIGN="left">Greece</TD> <TD BGCOLOR=#FFFF99 ALIGN="center">2002</TD> <TD BGCOLOR=#FFFF99 ALIGN="left"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#FFFF99 ALIGN="left">Ireland</TD> <TD BGCOLOR=#FFFF99 ALIGN="center">2002</TD><TD BGCOLOR=#FFFF99 ALIGN="left"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#FFFF99 ALIGN="left">Italy</TD> <TD BGCOLOR=#FFFF99 ALIGN="center">2002</TD > <TD BGCOLOR=#FFFF99 ALIGN="right"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#FFFF99 ALIGN="left">Luxemburg</TD> <TD BGCOLOR=#FFFF99 ALIGN="center">2002</TD > <TD BGCOLOR=#FFFF99 ALIGN="left"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#FFFF99 ALIGN="left">Monaco</TD> <TD BGCOLOR=#FFFF99 ALIGN="center">2001</TD> <TD BGCOLOR=#FFFF99 ALIGN="left"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#FFFF99 ALIGN="left">Netherlands</TD> <TD BGCOLOR=#FFFF99 ALIGN="center">1999</TD> <TD BGCOLOR=#FFFF99 ALIGN="left"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#FFFF99 ALIGN="left">Portugal</TD> <TD BGCOLOR=#FFFF99 ALIGN="center">2002</TD> <TD BGCOLOR=#FFFF99 ALIGN="left"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#FFFF99 ALIGN="left">San Marino</TD> <TD BGCOLOR=#FFFF99 ALIGN="center">2002</TD> <TD BGCOLOR=#FFFF99 ALIGN="right"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#FFFF99 ALIGN="left">Slovenia</TD> <TD BGCOLOR=#FFFF99 ALIGN="center">2007</TD> <TD BGCOLOR=#FFFF99 ALIGN="right"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#FFFF99 ALIGN="left">Spain</TD> <TD BGCOLOR=#FFFF99 ALIGN="center">1999</TD> <TD BGCOLOR=#FFFF99 ALIGN="left"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#FFFF99 ALIGN="left">Vatican</TD> <TD BGCOLOR=#FFFF99 ALIGN="center">2002</TD> <TD BGCOLOR=#FFFF99 ALIGN="left"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#FFFFFF ALIGN="left"> </TD> <TD BGCOLOR=#FFFFFF ALIGN="center"> </TD> <TD BGCOLOR=#FFFFFF ALIGN="center"> </TD> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#33FF99 ALIGN="left">Bulgaria</TD> <TD BGCOLOR=#33FF99 ALIGN="center">2011/2012</TD> <TD BGCOLOR=#33FF99 ALIGN="left"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#33FF99 ALIGN="left">Cyprus</TD> <TD BGCOLOR=#33FF99 ALIGN="center">2008</TD> <TD BGCOLOR=#33FF99 ALIGN="right"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#33FF99 ALIGN="left">Czech Republic</TD> <TD BGCOLOR=#33FF99 ALIGN="center"> </TD> <TD BGCOLOR=#33FF99 ALIGN="left"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#33FF99 ALIGN="left">Estonia</TD> <TD BGCOLOR=#33FF99 ALIGN="center">2008</TD> <TD BGCOLOR=#33FF99 ALIGN="left">Inflation concerns</TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#33FF99 ALIGN="left">Hungary</TD> <TD BGCOLOR=#33FF99 ALIGN="center">2010+</TD> <TD BGCOLOR=#33FF99 ALIGN="left">Budget concerns</TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#33FF99 ALIGN="left">Latvia</TD> <TD BGCOLOR=#33FF99 ALIGN="center">2009</TD> <TD BGCOLOR=#33FF99 ALIGN="left">Inflation concerns</TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#33FF99 ALIGN="left">Lithuania</TD> <TD BGCOLOR=#33FF99 ALIGN="center">2009</TD> <TD BGCOLOR=#33FF99 ALIGN="left">Inflation concerns</TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#33FF99 ALIGN="left">Malta</TD> <TD BGCOLOR=#33FF99 ALIGN="center">2008</TD> <TD BGCOLOR=#33FF99 ALIGN="left"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#33FF99 ALIGN="left">Poland</TD> <TD BGCOLOR=#33FF99 ALIGN="center"> </TD> <TD BGCOLOR=#33FF99 ALIGN="left"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#33FF99 ALIGN="left">Romania</TD> <TD BGCOLOR=#33FF99 ALIGN="center">2014</TD> <TD BGCOLOR=#33FF99 ALIGN="left"> </TD> </TR>

<TR VALIGN="bottom"> <TD BGCOLOR=#33FF99 ALIGN="left">Slovakia</TD> <TD BGCOLOR=#33FF99 ALIGN="center">2009</TD> <TD BGCOLOR=#33FF99 ALIGN="left"> </TD> </TR>

</Table> Last Updated on 2/03/2007 </BODY> </HTML>

Art

Feb 8 2006, 04:54 PM

CoinWorld had a really nice set of articles about a few of the happenings with new countries coming on board with Euros. A lot of the info was new to me and so I decided to make this chart. Hope you find it useful.

Please let me know if updates are needed.

Tiffibunny

Feb 8 2006, 05:50 PM

Czech, Poland, Slovakia...

joseluis13

Feb 8 2006, 07:17 PM

Hello ART. In the yelow list you forget GREECE

Art

Feb 8 2006, 07:26 PM

QUOTE(joseluis13 @ Feb 8 2006, 02:12 PM)

Hello ART. In the yelow list you forget GREECE
[right][snapback]155850[/snapback][/right]

Thanks. The book I was using didn't list Greece. I've updated the table.

tabbs

Feb 9 2006, 12:56 AM

Cyprus please.

Christian

tabbs

Feb 9 2006, 01:10 AM

QUOTE(Tiffibunny @ Feb 8 2006, 06:45 PM)

Czech, Poland, Slovakia...

[right][snapback]155826[/snapback][/right]

Consider the bright side: You'll get Czech bimets, Polish bimets, Slovakian bimets ...

But there will be a couple of years until it actually comes to that. CZ and PL will certainly not introduce the euro any time soon. These two, and Hungary, are the only new member states that have not joined the Exchange Rate Mechanism. Besides, the collector coins will still be different from country to country, since they are not actually used for payments.

Christian

Tiffibunny

Feb 9 2006, 01:19 AM

QUOTE(tabbs @ Feb 8 2006, 07:05 PM)

Consider the bright side: You'll get Czech bimets, Polish bimets, Slovakian bimets ...

[right][snapback]156159[/snapback][/right]

Art

Feb 9 2006, 02:50 AM

QUOTE(tabbs @ Feb 8 2006, 07:51 PM)

Cyprus please.

Christian
[right][snapback]156145[/snapback][/right]

Fixed. I don't know how that happened.

Art

Feb 9 2006, 02:50 AM

Some of the potential designs they showed in CoinWorld are outstanding.

tabbs

Feb 9 2006, 11:21 AM

Don't get CoinWorld but yes, some designs are promising. Others are a little boring, particularly those that basically use the same design for each denomination. The "new" EU countries that take part in the Exchange Rate Mechanism (ERM-II) have all chosen their euro designs (or design themes) already:

Cyprus (themes)
http://www.centralbank.gov.cy/nqcontent.cf...id=2775&lang=en

Estonia (designs)
http://www.eestipank.info/pub/en/majandus/...vand2/hara.html

Latvia (themes)
http://www.bank.lv/eng/main/lvnaud/latnaud/index.php?37226

Lithuania (designs)
http://www.lb.lt/eng/banknotes/coins_eur.html

Malta (themes)
http://mfin.gov.mt/page.aspx?site=NECC&page=coinconsultation

Slovakia (designs)
http://www.nbs.sk/PRESS/PLAGAT_A_3.PDF

Slovenia (designs)
http://www.bsi.si/html/eng/projects/euro/index.html

Slovenia will not have any big problems meeting its euro schedule; the country can probably introduce the euro cash on 1 January. Lithuania and particularly Estonia may have to wait due to their high inflation rates, but of course this is also a political issue. The others won't join in 2007 anyway.

Another place that may issue euro coins in the future is Andorra. The country is not an EU member but uses the euro. The government is basically interested in coming to a monetary agreement with the EU, similar to those that Monaco, San Marino and the Vatican have. That would allow Andorra to mint a certain contingent of euro coins (see http://www.andorra.be/fr/index.htm - "ANDORRE ET L'UE" section). But I don't think this has a very high priority, neither for Andorra nor for the European Union, so it may take quite a while.

Christian

tabbs

Feb 9 2006, 11:49 AM

Also, the "maps" on the common sides of the euro and cent coins currently show the European Union as it was before the May 2004 enlargement. The EU decided in 2005 that the new map will simply show Europe, regardless of which countries are in the currency union or the European Union (see http://coinpeople.com/index.php?showtopic=5651 ). This is what, for example, the 1 euro and 10 cent coins will look like:

user posted image

However, the new designs will not be used until the first new member state introduces the euro. The current euro countries are not obliged to "switch maps" at the same time, but it would make sense to do so ...

Christian

joseluis13

Feb 11 2006, 08:47 PM

On the green list. United Kingdom, Danmark and Sweden ??
They are not yet euro countries but ...., they are EU countries.

tabbs

Feb 11 2006, 11:12 PM

QUOTE(joseluis13 @ Feb 11 2006, 09:42 PM)

On the green list. United Kingdom, Danmark and Sweden ??
They are not yet euro countries but ...., they are EU countries.
[right][snapback]157150[/snapback][/right]

Adding Denmark and the UK does not make sense; the two countries opted out. (The odd thing is that the Danish krone is "tied" to the euro via ERM-II, and with an even narrower fluctuation band than any of the other currencies.) Sweden is a slightly different case - the country can not actually opt out (since it joined the EU after the Maastricht Treaty became effective). But obviously it has no intention to join, and thus does (willingly) not meet the euro criteria ...

So I would leave these three out. They do not have anything to do with the currency union.

Christian

Art

Feb 11 2006, 11:58 PM

I'm really trying to build a table of the countries that are actually issuing Euro coins and/or banknotes. Sort of a collector's checklist.

Can anyone furnish the dates that each of the participants first issued their Euro coins?

tabbs

Feb 12 2006, 12:09 AM

QUOTE(Art @ Feb 12 2006, 12:53 AM)

Can anyone furnish the dates that each of the participants first issued their Euro coins?
[right][snapback]157229[/snapback][/right]

Sure.

Austria 2002
Belgium 1999
Finland 1999
France 1999
Germany 2002
Greece 2002
Ireland 2002
Italy 2002
Luxembourg 2002
Monaco 2001
Netherlands 1999
Portugal 2002
San Marino 2002
Spain 1999
Vatican 2002

These are the earliest dates you will find on the coins; the pieces were actually issued to the general public (starter kits) in mid-December 2001.

Christian

Art

Mar 11 2006, 11:32 PM

Update table with dates of first issue of coins that Tabbs posted. This will help in my layout for my 2€ collection.

tabbs

Apr 13 2006, 04:23 PM

It is pretty clear now that Estonia will not introduce the euro next year; according to a preliminary estimate of the European Commission (Vienna meeting, 7 April) only Slovenia will "switch" on 1 January. These are the EU countries that participate in the Exchange Rate Mechanism (ERM-II) and the estimated dates - in the sense of "not before ..." - for introducing the euro:

Slovenia - 2007
Cyprus - 2008
Estonia - 2008
Lithuania - 2008
Malta - 2008
Latvia - 2009
Slovakia - 2009

Other EU member states and their status:
Czechia - may introduce the euro some time after 2010
Denmark - joined the EU before the Maastricht Treaty and "opted out" of the common currency, but the Danish krone participates in ERM-II with a very narrow fluctuation band
Hungary - may introduce the euro some time after 2014
Poland - may follow the Swedish model
Sweden - has willingly not met the stability criteria so far (referendum about the euro in 2003, with a "No" majority)
UK - joined the EU before the Maastricht Treaty and "opted out" of the common currency
Bulgaria and Romania are likely to join the EU in 2007 but will not introduce the euro for quite a while.

Christian

Tiffibunny

Apr 13 2006, 05:35 PM

QUOTE(tabbs @ Apr 13 2006, 11:18 AM)

Hungary - may introduce the euro some time after 2014
Poland - may follow the Swedish model

[right][snapback]204315[/snapback][/right]

I love zlotys!

tabbs

Apr 13 2006, 06:38 PM

Since I live close to Belgium and the Netherlands, but far away from Poland, I don't really care about what currency they use over there.

But after the kind of flexible approach concerning the initial euro countries, the EU (Commission, Council and the ECB) now follows a stricter policy. Which is why Estonia won't be "in" next year and Lithuania is a borderline case. Guess that will also affect other future "candidates" ...

Christian

ikaros

Apr 14 2006, 11:05 AM

QUOTE(Tiffibunny @ Feb 8 2006, 12:45 PM)

Czech, Poland, Slovakia...

[right][snapback]155826[/snapback][/right]

I'm with you--especially as Poland's concerned. I'll miss the zloty. I just hope Poland keeps up the stunning designs they're so good at... I still find a Europe without the mark, the franc, the lira, the drachma, a little inconceivable.

tabbs

Apr 14 2006, 11:22 AM

QUOTE(ikaros @ Apr 14 2006, 01:00 PM)

I'm with you--especially as Poland's concerned. I'll miss the zloty.
[right][snapback]204549[/snapback][/right]

Don't worry, the zloty is there to stay. Especially with the current Polish government, and even more so with its new coalition partner ... but I guess that does not belong in here. Well, the European Union does not force any country to join, and won't keep any from leaving. And of course it won't force any country to be in the currency union.

The currency union as it is, with just some of the member states participating, basically works fine, I think. (Whether it has a long term perspective under the current conditions is another question.) Countries that want to join, and meet the convergence criteria, can join. Countries that either do not want to join, or do not meet those criteria, stay out. Does not seem to be a problem.

QUOTE(ikaros @ Apr 14 2006, 01:00 PM)

I still find a Europe without the mark, the franc, the lira, the drachma, a little inconceivable.
[right][snapback]204549[/snapback][/right]

Maybe we can set up a special "Quaint Old Europe" theme park somewhere - with border checks every few kilometers, and separate currencies for each attraction or ride.

Christian

tabbs

May 16 2006, 04:56 PM

Today the European Commission (EC) and the European Central Bank (ECB) presented their convergence reports for Lithuania and Slovenia. In both countries the government plans to introduce the common currency on 1 January - but only Slovenia got the "go ahead" from the Commission today.

Here is some info in English, from the Commission and ECB websites:

Commission Recommendation: Slovenia
http://www.europa.eu/rapid/pressReleasesAc...&guiLanguage=en
http://ec.europa.eu/economy_finance/public...slovenia_en.htm

Commission Recommendation: Lithuania
http://www.europa.eu/rapid/pressReleasesAc...&guiLanguage=en
http://ec.europa.eu/economy_finance/public...ithuania_en.htm

ECB Convergence Report
http://www.ecb.eu/press/pr/date/2006/html/pr060516.en.html
(press release)
http://www.ecb.eu/pub/convergence/html/index.en.html
(full report)

The European Council will decide in June or July. It does not necessarily have to follow these assessments and recommendations.

Christian

tabbs

May 23 2006, 03:40 PM

(updated, see below)

tabbs

Nov 13 2006, 01:55 PM

The European Commission has just (10 November) presented its new euro area enlargement report. Nothing really new in there, but a few dates may be interesting ...

Slovenia will introduce the euro in about six weeks, on 1 January. For two weeks, both tolar and euro cash can then be used for payments.

1-Jan-2008 is the euro introduction date that Cyprus and Malta currently aim at. As for the other countries, here are the dates in brief:

Czech Republic: no target date specified*
Estonia: 2008 (but that is not very likely, C.)
Latvia: 2008 (ditto, C.)
Lithuania: no target date specified*
Hungary: no target date specified*
Poland: no target date specified*
Slovakia: 2009
Sweden: no target date specified*

(* That practically translates to "some time after 2010". Or maybe never; see my previous replies here. As for Cyprus and Malta, the Commission and the Council will decide next year whether the two can join or not.)

Fourth report on the practical preparations for the future enlargement of the euro area
http://ec.europa.eu/economy_finance/public...671final_en.pdf

Christian

Scottishmoney

Nov 13 2006, 02:44 PM

Looks like Turkey is just about getting itself out of the EU candidacy with some of the issues with Cyprus. So they may have lookalike Euros, but not the real McCoy's.

DawsonsLV

Nov 14 2006, 08:44 PM

QUOTE(tabbs @ Nov 13 2006, 03:50 PM) [snapback]273465[/snapback]

Estonia: 2008 (but that is not very likely, C.)
Latvia: 2008 (ditto, C.)
Lithuania: no target date specified*
[

Quite strange! Last info from Latvia: Pretty sure, that Lithuania will introduce Euro sooner as Latvia. Estonia will be first! Euro in Latvia no sooner than 2009.
BTW: From the same research: more than 50% of Latvians are against euro.

tabbs

Nov 14 2006, 09:37 PM

QUOTE(DawsonsLV @ Nov 14 2006, 09:39 PM) [snapback]273792[/snapback]

BTW: From the same research: more than 50% of Latvians are against euro.

Right, and Latvia is not the only "EU-but-not-euro" country where that seems to be the case. Even Cyprus, where the national government plans to join Euroland in 2008, has a solid majority against the common currency. Well, in Slovenia - which will join in a few weeks - that is quite different.

As for Latvia, I just read a few days ago that it is the EU country with the highest economic growth (in terms of the gross domestic product, more than 10% in the first half of 2006) but also has a high inflation rate of about 6%. Maybe the decision to join the Exchange Rate Mechanism was a little too early; in any case it makes sense in my opinion to not follow a speedy approach with regard to any further enlargements of the euro area.

Christian

DawsonsLV

Nov 16 2006, 06:39 PM

QUOTE(tabbs @ Nov 14 2006, 11:32 PM) [snapback]273794[/snapback]

As for Latvia, I just read a few days ago that it is the EU country with the highest economic growth (in terms of the gross domestic product, more than 10% in the first half of 2006) but also has a high inflation rate of about 6%.

Possibly there's a reason for such inflation outside fiscal politics and interest rates. Before introducing fixed rate Lats/Euro, the rate of Euro was about Ls0.64/EUR. Just before the date of fixation, Euro went incredibly high and at the moment of F-day was Ls0.702804/Euro and still remains so.
Now! I have never heard, that oficial rate would be HIGHER than markets one! Such paradox takes place in Latvia, where still you can but Euro at 0.685-0.696. It never reached official rate. IMHO that's the main reason for such an inflation.

tabbs

Nov 17 2006, 10:43 AM

QUOTE(DawsonsLV @ Nov 16 2006, 07:34 PM) [snapback]274163[/snapback]

Before introducing fixed rate Lats/Euro, the rate of Euro was about Ls0.64/EUR. Just before the date of fixation, Euro went incredibly high and at the moment of F-day was Ls0.702804/Euro and still remains so.

Quite a difference indeed - especially when, as you wrote, that rate is to some extent a theoretical one ... Then again, that 0.702804 is just the central rate in ERM-II, and the ECB will only intervene if the upper or lower limit of the (15 percent!) fluctuation band is exceeded. So Latvia could let the lats flow between roughly 0.80 and 0.60 euro and still meet the convergence criteria with regard to ERM-II.

Seems that different countries have different approaches regarding the central rate. Malta, for example, observes the central rate (unilaterally) while Cyprus just wants to keep the pound within the +/-15% fluctuation band. Latvia's plan seems to be closer to the Maltese plan then ...

By the way, Poland now plans to meet the convergence criteria in 2009 and then have a referendum (about the introduction of the euro) in 2010. Well, if the same people who voted the Kaczynski government into power will vote about the euro, Poland will stay out for a good long time.

Christian

Johnny 1989

Nov 18 2006, 05:23 PM

I though new member states HAD to join the Euro eventually only the UK & Denmark don't have to?

The UK may eventually join but I don't think Elizabeth II will adorn the Euro more Likely Charles/William (depending on who goes on the throne next, if it's Charles he won't be on there long & may not appear on the Euro, if it's William then he may do)

tabbs

Nov 18 2006, 06:11 PM

QUOTE(Johnny 1989 @ Nov 18 2006, 06:18 PM) [snapback]274763[/snapback]

I though new member states HAD to join the Euro eventually only the UK & Denmark don't have to?

With regard to the euro, there are several groups of countries in the European Union. The UK does not have anything to do with the euro and does, as requested, not "have" to join the currency union. The latter also applies to Denmark. (Without the exemption, these two countries would not have agreed to the Maastricht Treaty.) Denmark is a little different though: The country joined the exchange rate mechanism (ERM-II), with an even narrower fluctuation band than the 15% of the other ERM currencies. Thus the euro and the Danish krone are "tied" with a +/- 2.25 percent fudge factor.

All other member states will theoretically have to join the currency union one day. Among those we have countries that basically meet the convergence criteria but want to stay out (e.g. Sweden), countries that meet the criteria and will soon be in (e.g. Slovenia), and countries that currently do not meet all criteria. And if a country cannot - or does not want to - join the currency union, so what? Then it stays out. Seems to work fine for the currency union members and for the others.

Christian

tabbs

Dec 26 2006, 10:38 PM

Here is a map of Europe (status: as from next Monday), with ...

- the euro countries in yellow,
- the EU member states that will introduce the euro later (at least theoretically) in orange,
- and the other two EU countries in olive/green.

http://img465.imageshack.us/img465/3655/eu2007ai8.jpg

Christian

ageka

Dec 27 2006, 12:45 PM

QUOTE(tabbs @ Dec 26 2006, 11:33 PM) [snapback]287038[/snapback]

I am not all that clear on who is in the freetrade no customs zone like the UK is an EEC member
not a Euro member but nonetheless it will honor free banktransfers in Euro to Euro accounts in the UK without cost . Of course they still use the Pound

Or who issued really Euro money and honors not the agreements ( like spanish banks are sometimes quoted not honoring the costfree money transfer and still want the transfer cost money as reported in individual cases )
My bank wanted 11 euro cost for a transfer to Monaco and I do not know which of the requirement of an eurotransfer they do not fullfill

Last week our Belgian reporters said Slovakia will be a member from Januari 1 st on
Does that change the color of your chart for Slovakia ?

tabbs

Dec 27 2006, 03:36 PM

QUOTE(ageka @ Dec 27 2006, 01:40 PM) [snapback]287227[/snapback]

Sure. That map is from a brochure of the European Commission which focuses on the enlargement (as from 1 January) of the EU and of Euroland. The EEC does not exist any more; the Maastricht Treaty turned it into the EC to reflect that the Community is not a merely economic one. As for standard euro-based money transfers, yes, they apply to all member states.

QUOTE

Or who issued really Euro money and honors not the agreements ( like spanish banks are sometimes quoted not honoring the costfree money transfer and still want the transfer cost money as reported in individual cases )

Well, strictly speaking the EU regulation just says that euro based standard transfers may not cost more than domestic transfers. But yes, I have heard similar stories about France and Spain. Austria, Finland and the Benelux countries seem to work fine as far as I can tell.

The problem with Monaco could be that the country is not in the EU, nor is it an EEA member. The standard transfer, however, applies only to the EU/EEA ...

QUOTE

Last week our Belgian reporters said Slovakia will be a member from Januari 1 st on
Does that change the color of your chart for Slovakia ?

No, the map shows the status as from 1-Jan. The reporter must have mixed up two different countries (which both are EU members): Slovenia introduces the euro on Monday; Slovakia does not.

Christian

ageka

Dec 27 2006, 04:58 PM

QUOTE

The problem with Monaco could be that the country is not in the EU, nor is it an EEA member. The standard transfer, however, applies only to the EU/EEA ...

Thank you for the complete answer

With the Monaco coin I paid the bank 11 euro extra , but it did not pass a single custom officer on the way to Belgium which makes it strange.
The bank claimed they were not in the Euro agreement zone but they were in the free from import tax zone
At the time I read the legal text carefully and it says the money has to be a Euro transfer from country to country in Euro denomination and the receiving country must be EU country and on top of that must have signed the exchange agreement ( which the UK did sign presumably)

Aidan Work

Jan 1 2007, 02:45 AM

QUOTE(ageka @ Dec 28 2006, 05:53 AM) [snapback]287530[/snapback]

Thank you for the complete answer

Ageka,Monaco is a member of the Euro-Zone by default,as is San Marino,the Vatican City,& Andorra.Can you please post pictures of your Monegasque Euro coin?

Christian,you are right that Andorra could be granted permission to issue its own Euro coins.There is also Kosovo & Montenegro as well.Both of these countries have chosen to use the Euro as their legal tender currency.They could also issue their own Euro coins as well,given the fact that they replaced the worthless & unstable Yugoslavian Dinar with the Deutsche Mark to tie their economies into the European system.

Aidan.

ageka

Jan 1 2007, 10:41 AM

QUOTE

Ageka,Monaco is a member of the Euro-Zone by default,as is San Marino,the Vatican City,& Andorra.Can you please post pictures of your Monegasque Euro coin?

So I guess by default is not good enough for the bank asking 11 euro cost for the banktransfer

You misunderstood me Aidan
I bought a French coin in Monaco and paid it in euro
It is not a Monegasque coin and not a euro coin

tabbs

Jan 1 2007, 12:42 PM

QUOTE(ageka @ Jan 1 2007, 11:36 AM) [snapback]290363[/snapback]

I bought a French coin in Monaco and paid it in euro

... and if the bank account of the seller is with a bank in Monaco, your bank may well charge you through the nose

as Monaco is not an EU member state. To qualify as a euro standard transfer, a payment has to be in euro (max €50,000 now) to an account in the EU*, it must be a SHARE payment (not BEN, not OUR), and the account number (IBAN) and bank code (BIC) have to be provided.

http://eur-lex.europa.eu/smartapi/cgi/sga_...;model=guichett

* Actually the EEA (European Economic Area) countries that are not EU member states - Iceland, Liechtenstein, Norway - apply this regulation as well. But not Monaco, I'm afraid ...

Christian

tabbs

Jan 1 2007, 01:15 PM

QUOTE(Aidan Work @ Jan 1 2007, 03:40 AM) [snapback]290319[/snapback]

Monaco is a member of the Euro-Zone by default,as is San Marino,the Vatican City,& Andorra.

Right, Monaco, San Marino, and the Vatican are euro countries since they have monetary agreements with the European Union (that superseded their previous agreements with France and Italy respectively). Andorra is not part of the currency union but simply uses the euro. They have collector coins (diners, centims) but those do not circulate.

QUOTE

There is also Kosovo & Montenegro as well.Both of these countries have chosen to use the Euro as their legal tender currency.They could also issue their own Euro coins as well

Well, Kosovo is not quite an independent country, but that is a different story. With regard to the euro, yes, Montenegro uses it as its currency. But Montenegro (and Kosovo) cannot issue euro coins.

Christian

PJGS

Jan 1 2007, 02:21 PM

Montenegro adopted the Deutsche Mark as part of their monetary reform in 1999 and after the DM demise, the Euro became legal tender.

tabbs

Jan 1 2007, 02:57 PM

QUOTE(PJGS @ Jan 1 2007, 03:16 PM) [snapback]290385[/snapback]

Montenegro adopted the Deutsche Mark as part of their monetary reform in 1999 and after the DM demise, the Euro became legal tender.

True, they used the DM (which at that time was already a "sub-unit" of the euro, except for the cash

) and then the euro note and coins. However, having the currency of a different country as one's legal tender and being in a currency union are two quite different things. And currently neither Andorra nor Montenegro can issue any euro coins.

Andorra is in negotiations with the EU about a monetary agreement that would give the country a similar status as San Marino for example. But this has not exactly been a top priority for either side, so don't expect "Andorran euros" any time soon ...

Christian

PJGS

Jan 1 2007, 04:06 PM

QUOTE(tabbs @ Jan 1 2007, 02:52 PM) [snapback]290393[/snapback]

True, they used the DM (which at that time was already a "sub-unit" of the euro, except for the cash

That's correct. We can't forget that the peseta and french franc were legal tender in the principality before the euro came into being.
I think the euro as the currency in those countries was the way to go since they were using some of the euro's sub-units as legal tender before the euro became a "physical" currency..

ageka

Jan 1 2007, 05:31 PM

Transferring money to France is not so much a problem of the Banks but a problem of the French who still use personal cheques and ask for them on ebay
( Cheques are no longer used in Belgium because there is no longer any bankinsurance and so they are worthless if the account is not provided with the necessary funds )

Time and again I have to explain to French people to send me their RIB ( Their Bank identity has their BIC and IBAN numbers )
Last week I just gave up and paid paypall because the guy preferred this or a cheque

tabbs

Feb 3 2007, 02:46 PM

QUOTE(Art @ Feb 8 2006, 05:48 PM) [snapback]155817[/snapback]

Euro Countries w/Coin Status

The two new member states currently aim at 2011/2012 (Bulgaria) and 2014 (Romania) as far as the introduction of the euro is concerned. But all the countries that are not members of the Exchange Rate Mechanism (ERM-II) can and will not change over for at least two more years. So it makes sense to have Cyprus, Estonia, Latvia, Lithuania, Malta, and Slovakia in the green list. Slovenia should now be in the yellow list since it is a euro country.

The other countries - Bulgaria, Czech Rep., Hungary, Poland, Romania, Sweden - I would leave out. When/if they join remains to be seen.

Christian

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