1, kan Rådet, der træffer afgørelse enten på grundlag af en henstilling fra Den Europæiske Centralbank eller på grundlag af en henstilling fra Kommissionen og efter høring af Den Europæiske Centralbank, udarbejde generelle retningslinjer for valutakurspolitikken i forhold til disse valutaer.  
In the absence of an exchange-rate system in relation to one or more currencies of third States as referred to in paragraph 1, the Council, acting either on a recommendation from the European Central Bank or on a recommendation from the Commission and after consulting the European Central Bank, may formulate general orientations for exchange-rate policy in relation to these currencies.  