Contenu du sommaire : L'administration de la monnaie.

Administration of the Euro ; In order to accomplish the new tasks involved with the administration of the Euro new modes of operation have been invented : diversified, institutional and regulated where necessary, otherwise informai when this is desirable, with the permanent concem being as far as possible to associate ail actors, European Community or national, public or private, with the taking of decisions. In this respect this action has been carried out in exemplary fashion, and no doubt opens the way for new administrative developments in the public sector. Administration of the euro will undergo further important developments in the years to corne.

Currency in France : Present and Future ; The move to the Euro does not put into question the competence of the currency and coins service to make coins, since this task belongs to member States while the European Central Bank is competent to issue paper notes. The change of currency represents a challenge for the Mint in Paris which is striving successfully to improve its competitiveness in the production of currency and is actively preparing for the introduction of Euro paper notes in 2002.

The Move to the Euro From the Citizens' Viewpoint (or Converting the French to a New Currency) ; The création of a single currency is in the process of réalisation. Its technical success must be accompanied by a commitment of European citizens to the new currency : the Euro. In order to bring this about numerous awareness campaigns hâve been, and are going to be, undertaken in order to raise awareness and understanding of the Euro, but also in order to develop its practical operation with a view to 1 January 2002 the date by which only the euro will be legal tender. The difficulty of this type of mission is the multiplicity of people targeted and the diversity of their modes of behaviour.

The Bank of France and the European System of Central Banks ; The division of roles between national central banks and the European Central Bank follows the line of existing practices and seeks to optimise resources. It respects the principle of decentralisation which marks the European System of central banks. Applying the rule of subsidiarity the Bank of France retains its direct link with national banking and financial institutions and is developing its expertise to the extent that direct relations with economie actors are advantageous in permitting an exchange of information.

Democratie Accountability and the Independence of the European Central Bank in an Historical and Comparative Perspective ; Employing a form of methodology which permits the evaluation of the independence of central banks, the comparison of the evolution of the central banks in Britain and in France since the 17th century locates the main focus of debate on the issue of democratie accountability. The application of this method to the European Central Bank, and a comparison with the British and French banks leads to a democratie deficit being identifiable within the European institution. Since a reform of the ECB's regulations does not appear timely, it is rather by way of a modification of its modes of operation that this weakness may be remedied.

Central Banks, the Bank for International Settlements and Financial Stability ; One of the rôles of central banks is to watch over financial stability. At the level of central banks there exists a sériés of bodies regulating financial stability, including the Bank for International Settlements, which groups together représentatives of the central banks of the G 10 countries plus those of the Swiss central bank. Three committees are charged respectively with watching over the stability of banking institutions, the development of international capital markets and the systematic risks associated with international financial transactions. Moreover, and following the Asian crisis, the Forum for financial stability has been created, which consists of bringing together the représentatives of the principal countries and bodies concemed by financial stability in a common body for the purposes of dialogue. Amongst these organs the BIS play s an important rôle.

The New Framework of British Monetary Policy ; The high inflation which has hit the United Kingdom during the last thirty years can be attributed largely to strategie errors resulting from numerous failings in the conception and carrying-out of monetary policy. The platform of monetary policy has been specifically designed in order to résolve these problems. It is founded upon a better understanding of the real rôle of monetary policy and starts from the premise that it is necessary to fix precisely both objectives and procedures and to ensure greater transparency. This programme has until now brought about positive results. Since it was put into effect inflation has been moderated, has stablised and neared its objective, the economy is growing solidly and there is an improvement in the employment market.

The Consequences of a Fedéral Structure on the Construction of the Policy of the Federal Reserve ; The Federal Reserve has a regional composition formed by twelve district banks and a central council, the council of govemors. Several institutional characteristics contribute to the independence of the Fédéral Reserve, however the four-year mandate of the president of the Reserve expires, quite by chance, at the beginning of the year of the presidential élection, something which is not without conséquence for the relations between the Reserve and those in political power. The Federal Open Market Committee, the principal decision-making body of the Reserve, is made up notably of the presidents of the district banks, often accused of carrying out a strict form of monetary policy. An analysis of the reports of meetings over a limited period allows for a clarification of this judgement.

Evaluation : a Source of Knowledge Applicable to the Reform of Public Management ; The process of evaluation is used relatively infrequently in the development of reforms concerning public services. But several successful examples show the importance of evaluation as a guide in the construction of public policies. In order to be effective evaluation must be pragmatic and must produce transferable information. But this task is combined with other sources of information on public decision-makers, and must therefore remain in a limited field of study in order to be really effective. The ‘privatisation' of public services and the development and financing of programmes at European level ought to ensure that evaluation has an important part to play in the future.

French Administration and Europe : the Example of Police and Judicial coopération ; The third pillar of the Treaty on European Union is dedicated to co-operation in justice and home affairs. Before the Treaty of Amsterdam, the decision-making process within this third pillar remained at intergovemmental level. In negotiations preeminence was given to representatives of the ministries of justice and home affairs to the detriment of those departments concemed with social affairs. The Foreign Office has been called upon to play an increasing role but the balance of its achievements is mitigated. In order to limit the number of conflicts arising between the different ministries, the role of the SGCI, an inter-ministerial body charged with administrative co-ordination of Community policies, has been reinforced.