The Outlook for the Euro Changeover: A Summary and General Analysis

In this paper, the procedures and problems of the changeover to the euro are reviewed. The legal elements involved are discussed as are the psychological aspects. Various practical problems and proposed solutions are described. The possibility of resistance from the consumers in certain segments of the Member State populations is also addressed. One reason for any such resistance might be that for many citizens, the change of currency appears to have little bearing on their everyday concerns.Particular attention is devoted to the scenario for the period 1 January to 1 July 2002, during which coins and notes in euros and national monetary units can be in circulation at the same time.