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DRAFT REPORT (COM(2025)0462 – C100195/2025 – 2025/0258(COD))

On the proposal for a regulation of the European Parliament and of the Council establishing the exchange, assistance and training programme for the protection of the euro against counterfeiting for the period 2028-2034 (the 'Pericles V' programme) and repealing Regulation (EU) 2021/840

LIBE-PR-788022

Committee on Civil Liberties, Justice and Home Affairs · Rapporteur: Michael McNamara

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This is the rapporteur's draft report on the proposed 'Pericles V' programme, which funds exchanges, assistance and training to protect the euro against counterfeiting for 2028-2034 and repeals Regulation (EU) 2021/840. The draft resolution adopts Parliament's first-reading position and calls on the Commission to refer the matter back to Parliament if it substantially amends its proposal. The amendments widen the programme to cover other potential threats, money-laundering and emerging developments such as threats to the future digital euro and threats and opportunities from artificial intelligence. They add rules on delegated acts for work programmes and the Annex, require consultation of the European Central Bank, Europol and Eurojust, and set annual reporting to Parliament, the Council and the European Central Bank.

Committee position. The rapporteur proposes that the committee adopt a first-reading position amending the Commission proposal, widening the programme to other potential threats, money-laundering and emerging developments such as the digital euro and artificial intelligence, and adding rules on delegated acts, consultation of the European Central Bank, Europol and Eurojust, and annual reporting.

Key points

  1. Parliament adopts its first-reading position on the proposed Pericles V regulation and asks the Commission to refer the matter back to it if the proposal is replaced or substantially amended.
  2. A new recital states that sound protection of the euro against counterfeiting is a key component of a secure and competitive Union economy and is linked to improving the functioning of the economic and monetary union.
  3. An amended recital adds that euro cash is the only means of payment universally accessible to all citizens and a critical instrument of resilience when electronic payment infrastructure fails.
  4. A new recital states that capacity-building and training with competent authorities of third countries with euro counterfeiting hotspots should be further encouraged under the programme.
  5. A new recital provides that the Commission may adopt delegated acts to supplement the regulation with work programmes and to amend the Annex, with consultations and equal access to documents for Parliament and the Council.
  6. An amended recital adds that eligible actions can help address common challenges and links to money laundering and organised crime, and that eligible actions should cover threats from artificial intelligence, including AI-generated counterfeit imagery and evasion of detection systems.
  7. Article 1 is amended so the programme covers the protection of the euro against counterfeiting and other potential threats.
  8. Article 2 is amended so the general objective covers counterfeiting-related crimes including money-laundering, and the specific objective takes into account threats to the future digital euro, threats posed by AI and investigational opportunities offered by AI.
  9. Article 7 is amended to require consistency and avoidance of duplication with measures by the European Central Bank, Europol and Eurojust, and the Commission must take their existing and planned activities into account when implementing eligible actions.
  10. Article 8 is amended so the European Central Bank, Europol and Eurojust are consulted on any action that may be eligible for support before it is implemented.
  11. New provisions empower the Commission to adopt delegated acts to amend the Annex and to set out work programmes, with the delegation running from 1 January 2028 to 31 December 2034 and subject to revocation by Parliament or the Council.
  12. New provisions require the Commission to consult stakeholders, including national authorities, the European Central Bank, Europol, Eurojust and private sector representatives, before adopting work programmes, to update them regularly, and to provide annual reports on results to Parliament, the Council and the European Central Bank.

Who is affected

  • Member states' competent national authorities, which take part in exchanges, training and assistance and cooperate with the Commission.
  • The European Central Bank, Europol and Eurojust, which are consulted on eligible actions and receive annual reports.
  • Third countries with euro counterfeiting hotspots, whose authorities may take part in capacity-building and training and may receive equipment.
  • Recipients of Union funds, who must cooperate in protecting the Union's financial interests and face proportionate reporting requirements.
  • Digital currency, blockchain, cybersecurity and AI specialists, added as an eligible professional group.

Figures and deadlines

  • The programme runs for the period 2028-2034.
  • The delegation of power is conferred on the Commission from 1 January 2028 until 31 December 2034.
  • A delegated act enters into force only if no objection is expressed by Parliament or the Council within a period of two months of notification.
  • The European Central Bank opinion is dated 7 November 2025.

Legal basis: Article 294(2) and Article 133 of the Treaty on the Functioning of the European Union.