“Europeans Resolve to Embrace the Euro”

Edmund L . Andrew 's January 2 , 2002 New York Times article , Europeans Resolve to Embrace the Euro ' is about the events that happened when the European Union changed from12 national currencies to one currency -the euro . After midnight on January 1 , 2002 , Austria , Belgium , Finland France , Germany , Greece , Ireland , Italy , Luxembourg , the Netherlands Portugal and Spain all changed from their old money to the euro . Over the first few weeks of January , 650 ,000 ,000 euros were expected to enter circulation in the twelve countries . It was the biggest currency switch in

history and while it happened pretty easily , there were a number of minor complications including businesses refusing the new currency and some cafes and shops running out of the new money

Andrews reported that the old currencies would still be accepted in all of the countries until the end of February . Store clerks and cashiers had to manage two currencies (the old one and the euro ) which caused stress and confusions . Converting old prices to the new euro prices caused a fair amount of anxiety in the first day and some bank machines and other services were not yet equipped . In France and Italy some workers were threatening to strike

Even with all these problems , the changeover happened fairly easily . In the new money already on the first day and police worries about counterfeiting did not happen . Most people were positive about the euro and rushed to get some of the new money as soon as it was available after midnight

Works Cited

Andrews , Edmund L . Europeans Resolve to Embrace the Euro (as Soon as They

Spend Their Old Bills ' New York Times 2 Jan . 2002 , Late ed A8...