This guide intends to help small and medium-sized enterprises prepare for the introduction of the Euro.
On January 1st 2002, 12 of the 15 Member States of the European Union (EU) introduced Euro banknotes and coins as legal tender. Conversions rates were irrevocably fixed in 1999. There was a transition period of 3 years before Euro-Cash was introduced. The new Member States, who became part of the EU on 1st May 2004, are expected to introduce the Euro between 2007 and 2010. National governments will determine when and how the changeover to the Euro is going to take place.
With the introduction of the Euro, conversion rates from national currencies into Euro will be fixed irrevocably and the Euro will replace national banknotes and coins.
The Euro will also affect your company! Start thinking about the impact on your company and be prepared for the introduction of the Euro. This will help you become aware of the opportunities and put your company in a strong position to meet any challenges.