Communication from the Commission to the European Parliament, the Council, the European Central Bank, the European Economic and Social Committee and the Committee of the Regions and the European Bank. Seventh report on the practical preparations for the future enlargement of the euro area.

Abstract

As of January 2008, the euro area comprises 15 out of 27 Member States of the EU. Among the remaining 12 countries, 10 are the 'Member States with derogation' which are expected to adopt the euro once they fulfil the conditions prescribed by the Treaty.1 Denmark and the United Kingdom are not bound to adopt the euro. In addition to meeting the convergence criteria, the countries need to undertake extensive practical preparations in order to prepare all sectors of their economies, administrations and citizens for the introduction of the euro. In order to facilitate countries' preparations for the changeover, the Commission has built on the experience acquired in the course of the introduction of euro cash in 2002, 2007 and 2008 in order to prepare a 'Recommendation on measures to facilitate future changeovers to the euro'2. The countries preparing for the changeover are all invited to take this Recommendation into account. The present Report assesses the state of play of the practical preparations for the changeover in Slovakia which will enter the euro area on 1 January 2009, following the Council's decision concluding that it fulfils the necessary conditions for the adoption of the euro. The attached Commission Working Paper provides for details on the preparations in the other Member States concerned