could be used freely to settle euro
-denominated accounts between Dutch residents (for example, purchases and sellers of goods and services) and to repay euro
loans by Dutch banks to Dutch residents.
Since its rollout as the currency of everyday consumption this past January the euro
has headed down once again, flirting with its historic lows by the beginning of March.
The television and papers have been showing, almost exclusively, happy people welcoming the euro
all over Europe," he told THE NEW AMERICAN, "but that is simply not the true picture.
Conversion to the Euro
Deemed to Occur at Beginning of Tax Year
bills and coins will be circulated in 2002; participating countries have 10 years to phase out their national currencies.
Nevertheless, there are two aspects of the foreign demand for hard currency notes that could hasten somewhat a substitution of euro
notes for dollars.
To many American companies, the advent of the euro
is just a distant event on the horizon.
Offering a hint of what's to come, in April a group of 30 Labour backbenchers and several peers celebrated the formation of Labour Against the Euro
Prices within the 11 euro
countries will become more transparent, and U.
And the man guiding euro
policies, Wim Duisenberg, said in an interview published Wednesday in France's Le Monde that he intends to fill out his full eight-year term as head of the new European Central Bank.
In Europe, this paradigm shift in economic and fiscal policy linked to the euro
implies an attempted departure from "primitive Keynesianism" and from a destabilizing short-term "stop-and-go" policy in Europe.
When one takes into consideration this better outlook for growth and the expectations of price stability in the euro
area, I think one can safely say that the odds are currently clearly in favor of a stronger euro
, because over time the internal solidity and stability of a currency should be reflected in its external value.