PRESS RELEASE

Annual Report 1999

12 April 2000

Today the European Central Bank released its 1999 Annual Report. This Report has been prepared in accordance with Article 113 of the Treaty establishing the European Community and Article 15 of the Statute of the ESCB and is being submitted to the European Parliament, the Council of the European Union, the European Commission and the European Council.

It covers the developments in the economic environment which had an influence on the euro area's monetary policy in the first 15 months of Stage Three of Economic and Monetary Union, in addition to the description of the functioning of the Eurosystem in the various areas of its competence.

The Annual Report, produced in all 11 official Community languages, will be distributed by each of the EU national central banks to interested parties in their respective countries. Copies are also available from the ECB at the address mentioned below. All 11 language versions are available through the ECB's website.

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