|
1ST DEC 2008
|
|
|
|
|
|
|
|
|
|
|
As a member of the student community, you need to be aware that as of January 1st 2002 twelve countries in the European Economic and Monetary Union (EMU) and also The Vatican City introduced the new coins and bank notes that replaced their old separate currencies with just one - the European Currency Unit (ECU). This will help to aid students from all parts of europe who wish to travel and will reduce the sometimes nightmare task of exchanging currency.
It proved to be the biggest logistical task in our History since World War II with each country introducing the new unfamiliar Euro but also trading with their own currency however the smoothness of it's implementation surprised everyone across the world as they watched what would happen with great interest.
Austria (Schilling), Belgium (Franc), Germany (Deutsche Mark), Spain (Peseta), Finland (Markka), France (Franc), Greece (Drachma), Ireland (Punt), Italy (Lira), Luxembourg (Franc), Netherlands (Guilder), Portugal (Escudo) and Vatican City (Lira) have all adopted the euro instead of their own currencies.
All of the above countries have now phased out their old currencies. However, the Deutsche Mark in Germany has remained in unofficial circulation in some rural areas despite government attempts to remove it.
The Euro and Britain
Last November Tony Blair gave the strongest hint yet that Britain will be heading towards the Single Monetary Unit. In a speech in Birmingham he talked about the "tragedy" of politicians of both parties not "appreciating the value of European Integration" along with other remarks about Britain's embarrassing Euro-scepticism.
The inevitability is that Britain will become part of the ECU and there have been many requests for a referendum on our entry into the euro. We can be sure however, that politicians are keeping a close eye on the Euro and how it's adopting countries have been affected.
The Euro and you
With Britain remaining outside the Euro zone for the moment, the Euro will remain a peripheral issue to people in Britain. While the proximity of the Euro zone has a profound and complex effect on our economy its impact on our daily lives remains minimal. Most Britons only have contact with the currency when they travel in the Euro zone, when they generally find that the lack of the need to continuously change currencies is a bonus compared to the old system.
If you have any opinions on the Euro please share them with the rest of the StudentZone community on out Bulletin Board
Provided by The Student Zone (United Kingdom) |
|
| |
|
|
 |
HOME -
TRAVEL
-
FINANCE
-
CAREERS
-
COLLEGE & UNI GUIDES
-
FEATURES
-
ENTERTAINMENT
-
COMPETITIONS
-
INTERACTIVE
-
CONTACT
|
|
