"a good success,the last big decision before the adoption of the euro"-de Silguy
Paris, Wednesday, December 2, 1998
Many Voices For a Single Currency
Europeans Pick Delegates For International Talks
By Barry James International Herald Tribune
BRUSSELS - Confronted with the problem of electing a single voice to
represent the single European currency, finance ministers decided Tuesday to send a virtual choral society of spokesmen to international meetings, with the European Commission having an undefined supporting role.
The commission, the executive body of the European Union, argued that it needed to attend meetings of such international groups as the Group of Seven finance ministers to represent the broad interests of the 11 countries that will be adopting the euro Jan. 1.
In a decision that must be approved at the European summit conference in Vienna next week, the ministers accepted the commission's argument. They said it could take part in meetings on an ad hoc basis, presumably in the person of the commissioner for economic and monetary affairs, Yves-Thibault de Silguy.
''It is a good success, a satisfying result,'' Mr. de Silguy said. ''It is the last big decision before the adoption of the euro, and it corresponds to the desires of the commission.''
Otherwise, the euro zone will be represented by the president of the
European Central Bank, Wim Duisenberg, and the finance or other minister from whichever country holds the revolving EU presidency - or is next in line for the presidency, if the current president is not a member of the single currency. This will happen in 2001 with Sweden, 2002 with Denmark and 2003 with Greece, unless they adopt the euro first.
What is not known is whether the United States, Japan or Canada will
accept facing a phalanx of Europeans across the G-7 conference table.
Euroland also will be represented by three existing G-7 members -
Germany, France and Italy. Britain, which is not immediately adopting the single currency, also has a seat.
Rudolf Edlinger, the finance minister of Austria, said the primary European representative would be the envoy of the country holding the EU presidency. At G-7 meetings, that official would be ''supported'' by the representatives of the other EU countries and by the commission. On visits to third countries or at meetings of the International Monetary Fund, the presidency representative would be supported by the commission.
Meanwhile, France, Germany and other countries pushed ahead with plans
to ''harmonize'' certain aspects of European tax regimes, including a
program to eliminate anti-competitive corporate loopholes and curb the
scope of tax havens.
''Fiscal paradise for some is hell for many,'' the European commissioner for the single market, Mario Monti, said.
The countries' finance ministers rejected calls from a trade lobby, supported by some politicians, for postponement of a decision to end duty-free sales during travel among EU countries. Mr. Monti said the ministers saw a ''total inconsistency'' between continuing duty-free trade and seeking tax harmonization.
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