Part 1 of Essay
11 nations merged currencies to create the euro. Europe’s leaders say that the unified currancy will promote bussiness, underpin unity and strengthen their role in world affairs. Officially at midnight on New Year’s Eve the euro became the common currency of Germany, France, Italy, Spain, the Netherlands, Belgium, Austria, ....

Part 2 of Essay
.... will be slowly fazed in. The new euro notes and coins will not be issued to replace the Irish pounds, Portuguese escudos, Austrian schillings until 2002. The currency will however come into effect immediately for non-cash transactions ranging from government bond issues to credit card and check purchases. Euro figures will appear along side national currencies on pay checks, phone bills and bank statements. The United States dollar will now have a strong competator in the currency market. The euro-zone will be a ....