Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (35999)	1/4/1999 9:22:00 AM
From: Moominoid	Read Replies (1) of 94695

No all 11 currencies have been abolished as of 1 Jan. The banknotes and coins will still be used for three years. People can still get their bank statement in the interim period in the 11 currencies too. All stocks are already traded in Euro only and you can have your bank account and credit card etc. switched to Euro right away. All prices (at least in France) will be shown in both the Euro and the local unit. There are now no central banks in the 11 countries as far as I am aware apart from the bank supervisory role and maintaining the supply of notes and coins I guess. Monetary policy is solely in the hands of Frankfurt. In 2002 it will be exactly like the US where the banknotes have the Reserve bank which issued them written on them - except that in the Euro case the coins will have national issuer symbols on them and the notes not. David

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