SINGLE CURRENCY: SAINT-PIERRE-ET-MIQUELON AND MAYOTTE TO USE THE EURO.

European Report | December 24, 1998 | Copyright

Summary:The European Commission brought forward a proposal for a Council Decision on December 22 to allow Saint-Pierre-et-Miquelon and Mayotte to retain the same currency as France, namely the Euro, which is to be launched on January 1, 1999. Though territorial communities of France, Saint-Pierre-et-Miquelon and Mayotte are not part of the European Community and so fall outside of the scope of the Treaty. French banknotes and coins currently have legal tender status is both communities.

Under the present arrangement, French banknotes and coins are put into ...

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