Euro Coins. From Design to Circulation
Article 106 (ex 105 a) of the Treaty establishing the European Community maintains the historical tradition separating the issue of banknotes, for which the Central Bank is competent, and the issue of coins, which is the responsibility of the finance ministries. It is therefore for the European Central Bank (ECB) alone to issue or to authorise the issue of banknotes by the national central banks and for Member states to issue coins, "subject to the approval by the ECB of the volume of the issue". The Council, after consulting the ECB, is also responsible for the harmonisation of the "denominations and technical specifications of all coins intended for circulation". It is therefore competent to decide on the types of coin, their technical characteristics and their face values; the ECB's intervention is confined to controlling the quantities to be produced, as part of its task of overall supervision of the money supply.
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|Date of creation:||2000|
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