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Euro is launched { January 2 2002 } Original Source Link: (May no longer be active)
http://news.bbc.co.uk/2/hi/business/1736691.stmhttp://news.bbc.co.uk/2/hi/business/1736691.stm
Wednesday, 2 January, 2002, 23:07 GMT
The euro is launched
Euro notes and coins enter circulation in 12 European Union countries, in the biggest monetary changeover in history.
BBC News Online brings you coverage of the launch, the consequent impact, and looks at some of the issues surrounding the new currency.
'Crunch time'
The 12 participating countries were proud that the new currency's launch went smoothly on New Year's Day. But the real test lies with the citizens of those countries, who started using the euro in earnest on the following day - how easy would they find the transition?
The BBC's Economics Editor Evan Davies
BBC correspondents report on the everyday impact of the euro in some of the 12 eurozones
The BBC's Paul Anderson reports from Kosovo and Montenegro where the euro is also being adopted as an official currency
'Dawn of a new era'
The euro becomes a reality for 300 million citizens in 12 European countries. As New Year dawns, many revellers head straight to cash dispensers to get their hands on the new notes.
The euro is born
As clocks strike midnight across Europe, ten years of planning comes to fruition. From the Greek Islands to the Arctic Circle, the new coinage is ushered in with public parties, fireworks and extravagant displays.
Leaders hail currency's success
Despite a few teething troubles as businesses and the European public try to adapt to the euro, leaders across the EU declare themselves happy with the launch of the currency. The biggest cash switchover in history seems to have gone relatively smoothly, with little evidence of either counterfeiting or price rises.
Long road to euro
Achieving monetary union has been a long and difficult process, with the question of whether to join dividing many nations across the continent. It has been a political act as much as an economic one, with attempts to create a single currency going back more than 20 years.
UK still split over the new currency
Britain, Sweden and Denmark have all opted not to join the euro with the rest of Europe. In the UK, pro-euro campaigners hope that the currency's launch will provide a boost to their argument that Britain should join in. But many euro sceptics say that however well or badly the currency performs, the country should stay out on a point of principle.
A look at the new money
In August 2001 the European Central Bank put the new money on show. The multicolour notes come in denominations from five to 500 euros. The images of bridges, windows and gateways are designed to symbolise the new links between European countries.
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