THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 128(2) thereof,
Having regard to Council Decision 2010/416/EU of 13 July 2010 in accordance with Article 140(2) of the Treaty on the adoption by Estonia of the euro on 1 January 2011(1), and in particular Article 1 thereof,
Whereas:
(1) The European Central Bank (ECB) has the exclusive right from 1 January 1999 to approve the volume of coins issued by the Member States whose currency is the euro.
(2) The derogation in favour of Estonia referred to in Article 4 of the 2003 Act of Accession has been abrogated with effect from 1 January 2011.
(3) The 16 Member States whose currency is the euro and Estonia have submitted to the ECB for approval their estimates of the volume of euro coins to be issued in 2011, supplemented by explanatory notes on the forecasting methodology,
HAS ADOPTED THIS DECISION: