|7 February 2003|
|WRITTEN QUESTION by Wolfgang Ilgenfritz (NI) to the Council|
|Subject: Transfer of currency reserves|
|Transfers of currency reserves have reportedly taken place in Belgium, the Netherlands and Italy without objections being raised by the competent EU authorities.|
Have currency reserves held by national banks in fact been transferred and can these reserves then be used freely on the basis of national budget decisions (e.g. to finance public road-building or research)?
Must EU authorities, and if so, which ones, authorise such transfers, or can such a decision be taken solely at national level?
What volume of currency reserves are available for transfer in the individual countries involved?