Translations:AY Honors/Currency - Advanced/Answer Key 4/8/en

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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’.