Difference between revisions of "Translations:AY Honors/Currency - Advanced/Answer Key 4/8/en"

Latest revision as of 18:48, 4 October 2021

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Message definition (AY Honors/Currency - Advanced/Answer Key 4)

Regulation 1338 places obligations on those Member States which have adopted the Euro as their single currency; Regulation 1339 then extends these obligations to the other Member States. Article 6 of the former requires the Member States to implement “effective, proportionate and deterrent sanctions” on institutions which fail to withdraw and hand over counterfeit Euros to the country’s ‘Competent National Authorities’.

Regulation 1338 places obligations on those Member States which have adopted the Euro as their single currency; Regulation 1339 then extends these obligations to the other Member States.   Article 6 of the former requires the Member States to implement “effective, proportionate and deterrent sanctions” on institutions which fail to withdraw and hand over counterfeit Euros to the country’s ‘Competent National Authorities’.

Regulation 1338 places obligations on those Member States which have adopted the Euro as their single currency; Regulation 1339 then extends these obligations to the other Member States. Article 6 of the former requires the Member States to implement “effective, proportionate and deterrent sanctions” on institutions which fail to withdraw and hand over counterfeit Euros to the country’s ‘Competent National Authorities’.