The Euro is Here
Many of you may head to Europe over the Christmas/New Years
holiday and why
not. If you can tolerate the cold weather, deals to Europe
With the New Year comes a new currency. January 1, 2002 marks
the debut of
the euro, a standard currency that will be used by many European
It ís important to know which countries have adopted
the currency and more
importantly which ones have not.
Euro notes and coins will replace the following currencies:
Austrian schilling Belgian franc
Finnish markka French franc
German deutschmark Greek drachma
Irish punt Italian lira
Luxembourg franc Netherlands guilder
Portuguese escudo Spanish pesta
Dealing with the new currency should actually be easy for
Americans in the
early going, because the value of the new currency is about
the same as the
American dollar. At press time US $1 was equivalent to $1.12
Britain, Denmark and Sweden have opted to retain their currencies.
traveling to these three countries will need to exchange dollars
to the local
currencies then to euros if you should decide to travel to
one of the 12
countries listed above.
Local banks and major retail outlets will begin issuing euro
bank notes and
coins on January 1 and take national currency out of circulation.
process that's expected to take two months. Beginning March
1, the euro will
be the only legal tender accepted in those countries listed
above. If your
travels take you to Europe during the beginning of the conversion
currency will still work, but don't be surprised if the bank
where you do
your currency exchange hands you euros.