I. HISTORY OF EUROPEAN MONEY
See Link: www.geocities.com/Paris/4552/steen10a.htm
(also steen12a.htm) for history and photos of banknotes
in Denmark & Germany
*Provides further link to World Paper Money Homepage*
II. PRESENT EUROPEAN MONEY
CURRENT BANKNOTES of the 15 member states of the European Union
III. FUTURE EUROPEAN MONEY
A. WHAT IS "EURO"?
1. By the year 2002, up to 15 total countries of the European Monetary Union (EMU) will trade their national currencies for a JOINT EUROPEAN CURRENCY. Now all European countries have their own individual currencies. After Jan. 2002, the currency in every country belonging to the EMU will change to the "euro." *See official euro homepage link for the euro symbol or "glyph"; similar to $ symbol representing U.S. dollar: europa.eu.int/euro/
2. The COIN DESIGNS for the "cent" have already been decided by a contest and public opinion poll. The winner was Luc Luycx of the Royal Mint of Belgium, a computer programmer. The coins ("cents") will have a common side and an individual national side. To be fair, the design of the "euro" by Robert Kaleila of Vienna did not use pictures of any famous people or places. Instead, he chose anonymous bridges, windows, and doorways.
3. "EURO" DENOMINATIONS are 5; 10; 20; 50; 100; 200; and 500. The eight coin denominations will be 1 euro; 2 euro; 1, 2, 5, 10, 20, and 50 cents.
a. *See photo link: homepages.iol.ie/~discover/200f.jpg
b. *See photo link: (official euro homepage) europa.eu.int/euro/
B. WHY IS "EURO"?
1. CONSUMER PRICES DECREASE; common prices in the different countries compare more easily.
2. TIME AND MONEY ARE SAVED because fees are no longer charged to exchange money from country to country.
3. EXCHANGE RATES ARE STABLE; trade is encouraged.
C. WHEN IS "EURO"?
1. ASAP 1998
Decision made by European Council as to which member states may participate after review of national debt and productivity of each country. Possible participating countries: Sweden, Spain, Portugal, Austria, Netherlands, Luxembourg, Italy, Ireland, Greece, France, Finland, Great Britain, Germany, Denmark, Belgium. Other countries may be approved to join later.
2. JANUARY 1999
Exchange rates fixed. Switch to "euro" for banks. European Central Bank located in Germany.
3. JANUARY 2002
"Euro" coins and bills introduced to public.
4. JULY 2002
End of domestic banknotes and coins as legal (gradual withdrawal).
D. HOW IS "EURO"?
1. CONFERENCES with:
a. blind organizations (special relief printing of bills)
b. vending machine and ATM companies
c. consumer associations
d. public opinion poll
2. INFORMATION CAMPAIGN for public
a. entertaining brochures
b. amusing TV and radio programs
3. DUAL DISPLAYS of "euro"/national currencies
4. DUAL CIRCULATION: up to 6 months
5. DEUTSCHE BANK (Germany)
a. info hotline
b. "euro" board game for staff
V. E-MAIL US
Tell us your opinion : Are you pro/con the new "euro"? Why?
(Sorry, link disabled.)
IV. QUIZ YOURSELF: THE "EURO" & ME
*Link: "Context", European Education Magazine
Pictures used from MRI Bankers' Guide to Foreign Currency 22nd edition. Copyright ©1996 by Monetary Research, Inc. A Special thanks to Arnoldo Efron and the Official Euro Homepage