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Out With the Old, In With the Euro


Jan.. 3, 2002 While the United States began the new year with the economy in recession, Europe began the year with a brand new currency. The long anticipated euro made its debut to mixed reviews.



With the exception of three European Union (EU) members -- Britain, Denmark and Sweden -- 12 countries of the EU will fade out their national currencies by February 28 and replacing them with the euro, including Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, The Netherlands, Portugal, and Spain.

The frantic national currency switch proved taxing for many, especially European banks. And it was not without its critics. Here are some of the headlines that appeared in response to the controversial event.

United States
Area Exchanges, Banks Say Don't Rush to Get Euros

England
The Euro: How It All Works
Euro Appears in U.K., Protests Muted

Germany
Euro Start Better Than Expected in Germany

Africa
Euro Debut Raises Question on European Unity

New Zealand
Euro's Hesitant Start Turns To Wary Acceptance

Italy
Italians Get First Day Euro Blues
Prices Rise with Euro Despite Government Pressure in Italy

2002 SmartPros Ltd. All rights reserved.

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