Information Related to "An Overview of Conditions Around the World - Jan/Feb 2002"
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An OverView of Conditions Around the World
The euro: Europe's crucial new reality
The biggest currency experiment in history has begun: The euro is now the official common currency of 12 European nations: Austria, Belgium, Finland, France, Germany, Greece, the Republic of Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain.
Starting Jan. 1 more than 300 million people in Europe began the adjustment to the new money in their pockets, wallets and purses. During two months of transition, Europeans may use old national currencies alongside the euro. However, after Feb. 28 only the euro will be accepted as legal tender in the 12 nations.
For most Europeans the initial
change will be limited to getting used to new coins and bills. For the first
time in the history of the European Union (EU), citizens of participating
countries will be able to make quick, clear price comparisons across national
borders. Within the 12 nations it will no longer be
necessary to exchange money when visiting other countries.
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