December 16, 2001	Sunday	Ramazan 30, 1422

LAEKEN, Dec 15: As five euro zone countries were already selling “starter packets” of euro coins, EU leaders on Saturday hailed the common currency that enters circulation in 16 days as a safe harbour against the world’s “financial turbulance.”

The introduction of euro notes and coins on January 1 will be the culmination of a historic process of decisive importance for the future of Europe, they said in a draft resolution to be approved later Saturday, the last day of their two-day summit here.

The 12-nation euro area now represents a pole of stability for those countries participating in it by protecting them from speculation and financial turmoil, it said.

Citizens of France, Ireland and the Netherlands, which began selling the packets on Friday, and of Belgium and Italy, which began on Saturday, were meanwhile getting a feel for the shiny new coins.

Most of the other seven euro zone countries were to begin selling the packets early next week.

The EU heads of state and government here were also treated to a taste of the new common currency, each getting a packet of the shiny two-tone bronze “sandwich” coins.

They’re citizens like anyone else, said a spokeman for the EU rotating presidency — held by Belgium until the end of the year.

Although the new coins are acceptable as legal tender until midnight January 31, when automatic cash machines will begin spitting out euro notes in place of 12 national currencies, the 40-coin packets were being touted as neat Christmas gifts.

The advent of the euro, the most ambitious currency conversion in history, will strengthen the EU’s internal market, said the draft resolution, and contribute to the maintenance of healthy fundamental figures, fostering sustainable growth, said the resolution.

The new common currency, it added, is also helping to bring the citizens of the Union closer together by giving visible, concrete expression to the European design.

British Prime Minister Tony Blair — whose country, along with Denmark and Sweden, are outside the euro group — grinned as his European colleagues surveyed the new coins.

British officials here have towed the official government line, that entry into the euro zone is a long term goal, but only when the economic conditions favour Britain doing so.

Foreign Secretary Jack Straw said, however, that the launch of the euro was bound to have an effect on Britons, amid signs London is increasingly warming to the euro.

Many of Britain’s large chain stores have already announced they will accept euros in payment of tourists’ purchases, although change will be given in pound sterling.

European Parliament president Nicole Fontaine said earlier at the summit that she was confident in Blair’s “determination” to bring his country into the euro fold, and that his efforts could encourage Sweden and Denmark.

We are aware, Mr Blair, of your determination to ensure that your country will soon be preparing to embrace the single currency, a step which might serve to encourage the other countries still outside the euro area to follow suit, she said.

Blair, who has made increasingly pro-euro speeches in recent months, was reportedly participating fully in summit discussions on the countdown to the launch of euro.—AFP