What a waste of money! France melts down millions of coins because EU says its stars don’t look right

PARIS — France has destroyed and reminted 27 million coins after failing to ask the EU for design approval and then being told they didn’t conform.

The Monnaie de Paris, the country’s mint, produced the 10, 20 and 50 cent coins with a new pattern in November but later discovered that the way the stars of the EU flag had been depicted was not compliant with the European Commission’s very precise requirements.

Under EU law, countries can change the design of the "national" face of euro coins every 15 years, but they need the green light from the Commission as well as other eurozone governments, which have to be informed and have seven days to raise objections.

France informally contacted the Commission in November, before addressing a formal request to approve the design, but the mint had gone ahead without waiting for the EU’s OK. It then received an informal warning from the Commission stressing that the new design was not in line with EU rules, according to a French economy ministry official with direct knowledge of the file, speaking to POLITICO on condition of anonymity.

A Commission spokesperson declined to comment on previous informal exchanges with France, but confirmed that the French treasury formally submitted the corrected design on December 12, which got the EU’s endorsement on December 21.

The new coins were meant to be presented during a visit of France’s Economy and Finance Minister Bruno Le Maire to the Monnaie’s prestigious Paris headquarters. Unsurprisingly, that ultimately didn’t happen.

Secret design

Now, a blame game has started between the Monnaie and the government.

The same economy ministry official stressed that the Monnaie was an autonomous public company and not part of the French administration. That means the Monnaie would entirely bear the cost of reminting the coins.

"There will be no cost to the French taxpayer, as the company will absorb it in its operating costs," the official said.

The story was first reported by French media outlet La Lettre, which quoted the head of the Monnaie, Marc Schwartz, saying "the French state" was responsible.

The design of the new coins proposed by the French government and validated by the Commission is still a secret and will be unveiled before the spring, the French economy ministry said.

The Monnaie de Paris did not respond to a request for comment.