EU Commission to Confirm Currency Plan: The...
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EU Commission to Confirm Currency Plan: The blueprint for the introduction of a single European currency will be approved this month, monetary officials said, but a date cannot yet be fixed for freezing national exchange rates. The 50-page report will be approved at a May 31 meeting of the European Commission, the European Union’s executive body, officials said. It will analyze all the practical aspects of introducing a single currency and will be presented to EU finance ministers and heads of state in June for final approval. Central banks will use the new currency as soon as national exchange rates are “locked,” the report says.
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