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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (2216)	11/18/1998 12:28:00 PM
From: Robert Dirks	Read Replies (1) \| Respond to of 81019

Euro Coin News: (Read the paragraph marked >> << a couple of times). What does that tell you in between the lines......... European Parliament adopts call for gold euro coin 09:33 a.m. Nov 18, 1998 Eastern STRASBOURG, France, Nov 18 (Reuters) - The European Parliament called on Wednesday on European Union nations to mint a gold euro coin. In a resolution on the euro coins to be introduced in 2002, as expected the Parliament voted for the EU to produce a 100 euros coin whose gold content would not exceed its nominal face value. However, the non-binding resolution faces little chance of ever becoming official EU policy after European monetary affairs commissioner Yves-Thibault de Silguy said on Tuesday it would not be taken up in its current form. Under the Maastricht Treaty, the Parliament can make proposals on euro coins but they are not binding on either the European Commission - which has the right to initiate EU legislation - or EU finance ministers, which ultimately decide all aspects of the coins. Speaking on Tuesday, De Silguy said while there was ''real interest'' among mints to produce commemorative or collector gold euros, no coin could have legal status throughout the euro zone. >> There was also no question of producing a coin whose gold value was close to its face value because this may prevent planned euro notes with similar values from becoming accepted. << Euro notes are due to be introduced alongside euro coins in 2002. A source at one mint told Reuters on Tuesday that mint directors would only begin work on jointly producing a gold coin if they received a mandate from finance ministers. In its resolution, the Parliament said the production of a gold euro would lend credibility to the new currency as well as being a way to use up central bank gold reserves without denting the metal's market price. ((Nick Antonovics, brussels.newsroom+reuters.com, tel.+322 2876830))