Monday 6. December 2021
A Stable Monetary Union - Hope for a Europe of Solidarity

Press Release - 6 December 2000

.The Bishops of the Commission of the Bishops' Conferences of the European Community (COMECE) have addressed the issue of European Monetary Union (EMU) extensively in order to understand the more profound significance of a common currency for the future co-existence of individuals and peoples within the European Union. .The new euro coins and notes will be issued in one year's time, representing a dramatic change in the everyday lives of citizens in the euro-zone. For this reason, the Bishops of COMECE would like to present political leaders and the European public with a number of ethical principles regarding monetary union. .In this statement, the Bishops of COMECE do not go into the question of whether the citizens of EU countries that have not joined the euro-zone should vote for or against the single currency. Basic Principles .Trust in a currency is essential to maintain a stable value. This applies particularly to the European single currency, of which the creation and development is unprecedented in history. .European Monetary Union establishes an irreversible community of solidarity. National currencies have been absorbed into the euro. This requires that, in the future, we act with greater respect for commonly agreed objectives. .Monetary union triggers pressures for further integration The obvious difficulty of defining the finality of European integration should not be shied away from. Reflections .The euro must be fully accepted by the citizens The introduction of the euro is, to a great extent, still a theoretical process in the minds of many citizens. This will only change once the euro notes and coins have been introduced in January 2002. For some, however, the adjustment period might lead to fears of making mistakes or being deceived. .Impetus for a Europe based on solidarity The euro is speeding up the necessary structural reform of our national economies. However, it is important not to lose sight of the interests of the weaker members of our society. The objective should be just participation in the economy, in order to help people to help themselves. Furthermore, monetary union is not an exclusive club but a community prepared for growing membership. .Monetary Union and the Future The unified monetary policy of the countries participating in monetary union will surely have an impact on the further path towards European unity. What started as a political project in the late 1980s cannot be de-politicised. The euro will only fulfil its long-term objective if the political dimension is recognised and its inherent strength developed.

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