Monetary Convention: Vatican City State - European Union

Vatican City: December 18, 2009, (PCTV Newsdesk)

Late yesterday afternoon the Holy See Press Office announced that on the morning of 17 December a monetary convention was signed in Brussels, Belgium, between Vatican City State and the European Union.

The document was signed in the name of the Holy See, as representative of Vatican City State, by Archbishop Andre Dupuy, apostolic nuncio to the European Union, while Joaquin Almunia, European Commissioner for Economic and Financial Affairs, signed for the European Union.

The provisions of the new convention, which replaces the monetary convention of 29 December 2000 that introduced the euro as the official currency of Vatican City State, will come into effect from 1 January 2010.