Communiqué of the European Central Bank and the Bank of Greece

Following the determination of the euro conversion rate of the Greek drachma by the Council on 19 June 2000 by way of an amendment to Regulation (EC) No. 2866/98, which is to become effective as of 1 January 2001, the European Central Bank and the Bank of Greece will monitor the convergence of the market exchange rate of the Greek drachma against the euro towards its euro conversion rate, which should be completed at the latest by 29 December 2000.