council regul ec june provis relat introduct euro council european union regard treati establish european commun articl thereof regard propos commiss regard opinion european parliament regard opinion european monetari institut meet held madrid decemb european council confirm stage econom monetari union start januari laid articl treati member state adopt euro singl currenc accord treati defin purpos regul particip member state meet european council madrid decis term ecu treati refer european currenc unit gener term govern fifteen member state achiev common agreement decis agre definit interpret relev treati provis european currenc euro euro currenc particip member state divid hundr unit cent european council consid singl currenc offici languag european union take account exist alphabet regul introduct euro adopt council basi sentenc articl treati particip member state order defin legal framework euro council act start date stage accord sentenc articl treati adopt irrevoc fix convers rate oper common market changeov singl currenc provid legal certainti citizen firm member state provis relat introduct euro entri stage legal certainti earli stage prepar citizen firm proce good condit sentenc articl treati council act unanim particip member state measur rapid introduct singl currenc legal basi confirm accord articl treati member state fulfil condit adopt singl currenc recours articl treati legal basi provis urgent legal certainti regul aforesaid regul introduct euro provid legal framework euro principl legal framework agre european council madrid introduct euro concern dai dai oper popul particip member state measur regul regul adopt sentenc articl treati examin ensur balanc changeov consum ecu refer articl treati defin council regul ec decemb consolid exist commun legisl definit ecu entri forc treati european union ceas defin basket compon currenc januari euro currenc decis council adopt convers rate modifi extern ecu mean ecu composit basket compon currenc euro regul ec obsolet repeal refer legal instrument ecu parti presum agre refer ecu refer articl treati defin aforesaid regul presumpt rebutt take account intent parti gener accept principl law continu contract legal instrument affect introduct currenc principl freedom contract respect principl continu compat parti agre refer introduct euro order reinforc legal certainti clariti explicitli confirm principl continu contract legal instrument appli nation currenc euro ecu refer articl treati defin regul ec euro impli case fix interest rate instrument introduct euro alter nomin interest rate payabl debtor provis continu fulfil object provid legal certainti transpar econom agent consum enter forc introduct euro constitut chang monetari law particip member state recognit monetari law state univers accept principl explicit confirm principl continu lead recognit continu contract legal instrument jurisdict countri term contract definit legal instrument meant includ type contract irrespect conclud council act accord sentenc articl treati defin convers rate euro term nation currenc particip member state convers rate convers euro nation currenc unit nation currenc unit convers nation currenc unit fix algorithm defin result invers rate convers impli round rate result signific inaccuraci notabl larg amount involv introduct euro requir round monetari amount earli indic rule round oper common market time prepar smooth transit econom monetari union rule affect round practic convent nation provis provid higher degre accuraci intermedi comput order achiev high degre accuraci convers oper convers rate defin signific figur rate signific figur mean rate count left start figur figur adopt regul articl purpos regul legal instrument legisl statutori provis act administr judici decis contract unilater legal act payment instrument banknot coin instrument legal effect particip member state member state adopt singl currenc accord treati convers rate irrevoc fix convers rate council adopt accord sentenc articl treati nation currenc unit unit currenc particip member state unit defin dai start stage econom monetari union euro unit unit singl currenc defin regul introduct euro enter forc start date stage econom monetari union articl refer legal instrument ecu refer articl treati defin regul ec replac refer euro rate euro ecu refer legal instrument ecu definit presum presumpt rebutt take account intent parti refer ecu refer articl treati defin regul ec regul ec repeal articl appli januari accord decis pursuant articl treati articl introduct euro effect alter term legal instrument discharg excus perform legal instrument give parti unilater alter termin instrument provis subject parti agre articl convers rate adopt euro express term nation currenc particip member state adopt signific figur convers rate round truncat make convers convers rate convers euro unit nation currenc unit invers rate deriv convers rate monetari amount convert nation currenc unit convert monetari amount express euro unit amount round decim convert nation currenc unit altern method calcul produc result articl monetari amount paid account round take place convers euro unit pursuant articl round nearest cent monetari amount paid account convert nation currenc unit round nearest unit absenc unit nearest unit nation law practic multipl fraction unit unit nation currenc unit applic convers rate result half sum round articl regul enter forc dai public offici journal european commun regul bind entireti directli applic member state luxembourg june council presid jorritsma lebbink oj oj opinion deliv novemb oj