§ Mr. BercowTo ask the Chancellor of the Exchequer for how long national mints of states participating in EMU will continue to print and mint distinctive national versions of the single currency; and what effect non-repatriation of banknotes to country of origin will have on this. [41477]
§ Mrs. Liddell[holding answer 12 May 1998]: No time limit has been placed on the national mints of member states participating in the single currency minting distinctive national versions of the euro coin.
Those countries joining the single currency on 1 January 1999 have opted not to have distinctive national features on their euro notes. Thus non-repatriation of euro banknotes will not be an issue.
§ Mr. BercowTo ask the Chancellor of the Exchequer, pursuant to his answer of 7 April 1998,Official Report, column 150, what quantity of the metal known as Nordic Gold will be required for the single currency coinage; and from what source it will be acquired. [41579]
§ Mrs. Liddell[holding answer 12 May 1998]: Mint Directors of the EU member states have estimated that the approximate quantity of Nordic Gold required to mint the euro coins would be 140,000 tonnes for all 15 EU member states. Nordic Gold is derived principally from Copper which is readily available.
§ Mr. BercowTo ask the Chancellor of the Exchequer, pursuant to his answer of 18 February 1998,Official Report, column 689, to the hon. Member for Ludlow (Mr. Gill), what volume of bulk redistribution of euro banknotes he estimates will occur in the euro zone; and what factors will lead to such redistribution. [41510]
§ Mrs. Liddell[holding answer 12 May 1998]: The Chancellor has made no estimation of the volume of bulk redistribution of euro banknotes that might occur between countries in the euro zone. The European Central Bank, together with the national central banks of those countries joining the single currency will be responsible for monitoring the situation.