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Practical Issues Arising From The Euro

May 2002 Issue

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Title, Contents, Foreword and Summary (168k)

Part I (633k)
Completion of the Euro Changeover in Practice
The euro area
Austria
Belgium
Finland
France
Germany
Greece
Ireland
Italy
Luxembourg
The Netherlands
Portugal
Spain

Part II (235k)
Lessons from the Euro Changeover

A: The Organisation of the Changeover

B: The Completion of the Non-Cash Changeover
Box: Lessons from the conversion weekend
Accounts
Payments

C: The Cash Changeover
Prior distribution of euro cash
Box: Frontloading: payment and collateral
Box: Contrasting approaches to sub-frontloading
Starter kits
Cash at banks
Cash at retailers
Cash for tickets and vending machines
Withdrawal of legacy cash
Box: Contrasting approaches to the withdrawal of legacy cash
Box: Defacement of legacy banknotes

D: Costs and Benefits of a Quick Changeover
The timetable for the changeover
The pace of the cash changeover
Box: Why was the cash changeover quicker in some countries than others?
Costs and benefits of a quick cash changeover

E: Other Issues
The prevention of criminal activity
The information campaign
The attitude of the public
The impact on prices
Box: Euro-area HICP: evidence of euro changeover effects
Changeover costs and charges

Part III
Lessons for the UK

A: Similarities and Differences between the UK and the First Wave
Similarities between the UK and the first wave
Differences between the UK and the first wave
Box: Steps in a UK changeover

B: Lessons from the First Wave
Box: Lessons from decimalisation
The overall framework for a UK changeover
The mass changeover in the UK
Box: Banking services in euro under a phased approach
Box: The securities changeover for small investors in the UK
The UK cash changeover
Box: Cash distribution in the UK
Other aspects of a UK changeover
Annex A: Preparing the Bank of England for possible UK entry
Annex B: Changeover in sterling financial markets

C: Use of the Euro in the UK outside Financial Markets
Use of the euro by businesses
Use of the euro on the high street
Northern Ireland

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