confirms that participation in ERM II is voluntary for non-euro countries with an opt out from the single currency, but adds they are expected to participate.

The objective of monetary policy is to create a single currency and to ensure this currency's stability thanks to price stability and respect for the market economy.

The single Currency - a factor for stability and prosperity By the end of this century, Europe will have a single currency. This was the wish of its leaders and its people in signing and ratifying the Treaty on European Union.

It represents a good basis for the future work which will be taken forward by his successor, Mr. de Silguy. 2. Bringing together a broad range of senior figures from the private sector, the mandate of the Group is to define, in an independent manner, a coherent approach for the changeover to a single currency which is acceptable to the major categories of currency users and is in accordance with the framework and calendar foreseen in the Maastricht Treaty. 3. A main conclusion of the interim report is that public authorities and the private sector should immediately start an on-going dialogue on the main technical aspects of notes and ...[+++]coins of the new single currency, and the timing of the physical introduction of these new monetary units.

Mr Monti will identify six areas where he has taken initiatives during the course of this year: 1) Completing the legislative framework for the Single Market (e.g. the proposals for elimination of border checks on people in a framework of security) 2) Enforcing Single Market rules more effectively to ensure a level playing field (e.g. more rapid and transparent Commission infringement procedures; EU Court sanctions against Member States for violations of EU legislation 3) Developing the Single Market to take account of technological change and new dimensions in economic activity (e.g. Green Papers on different aspects of the information society) 4) Preparing for enlargement of the Single Market to the East (CEECs) and the South (Cyprus and ...[+++] Malta), in particular through technical assistance and guidance (e.g. White Paper on preparation of the CEECs for integration into the Internal Market of the Union) 5) Defending vigorously the Single Market from the threats caused by monetary disturbances, by resisting demands for new barriers to trade or compensatory measures, whereas the appropriate response consists of increased budgetary discipline and convergence to the single currency (e.g. the recent report of the impact of currency fluctuations on the Single Market) 6) Ensuring the Single Market is made relevant to the citizen (Mr Monti will outline the Citizens First initiative on explaining people's rights derived from the Single Market and the practical benefits these rights bring to the individual).

The Green paper has three main aims: * to reduce the uncertainties surrounding the changeover to the single currency by presenting a reference scenario; * to identify a comprehensive list the problems, indicating an approach to tackling them; * to define a communication strategy to ensure public support for the single currency and to explain how it will be introduced.