European Parliament - Parliamentary Questions
1 July 2011
Subject: Legal nature of ownership of euro
There is currently an ongoing international scientific debate on the seigniorage of currency; the entire monetary system is based on seigniorage, which derives from the issuance of currency. At present, it is impossible to identify who the creditors and who the debtors are as regards the circulation of the euro; however, European peoples have every right to know whether they are "creditors" (i.e. owners) or "debtors" (i.e. non-owners) of the value of all the euro currently in circulation. Can the Commission therefore specify, clearly and definitively, who the legal owner of the euro is at the moment of issuance?
Re: Who Is The Real Owner Of The Euro Currency?
4 years, 3 months ago #2727
Before long, all Europe, save England, will have one money". This was written by William Bagehot, the Editor of "The Economist", the renowned British magazine, 120 years ago when Britain, even then, was heatedly debating whether to adopt a single European Currency or not.