41. BUSINESS@WatB emu An overview On January 1, 1999, 11 european Union countries will form an economicand monetary union (emu) and start using a single currency ­ the euro. http://www.watb.net/business/euro_1.shtml

Please take a moment to visit our sponsor: Last Updated: 30/03/99 The WatB Currency Converter Online currency conversion - Rates updated approximately every fifteen minutes Subscribe to The WatB Update List Subscribe Unsubscribe The WatB Web Guide Your Roadmap to the Web Add Your Site Just click the button below to go to our submission page A Team Media Site EMU - An overview On January 1, 1999, 11 European Union countries will form an economic and monetary union (EMU) and start using a single currency ­ the euro. These countries will lock the exchange rates of their national currencies to the euro and share the new currency. However, euro notes and coins will not be available until January 1, 2002. Until then the old national currency notes and coins (French francs, Deutschmarks etc) will continue to circulate. But in law they will be part of the euro. Their value in euro will be completely fixed. The 11 countries will also share a single interest rate, set by the European Central Bank (ECB), and a single foreign exchange rate policy. The ECB will be responsible for the monetary policy of these 'euro zone' countries. Ever since the European Economic Community (EEC) started in 1957, people have suggested more economic cooperation between countries ­ including a single currency. The creation of the Single Market in 1992 brought the economies of different EU regions closer together, created lower inflation and increased EU income. Economic convergence between participating countries is the primary condition for a strong and stable single currency.

42. EURO Government is in favour of UK membership of emu; in practice sustainable convergencebetween Britain and the economies of a single currency;; euro Preparations. http://www.hm-treasury.gov.uk/documents/the_euro/euro_index_index.cfm

var graphics_unique = '/images/euro'; var graphics_common = '/images/common'; var menuitem='tt'; Enterprise and Productivity Financial Services International Issues Public Spending and Services ... Savings The Government's policy on membership of the single currency remains as set out by the Chancellor of the Exchequer in October 1997, and restated by the Prime Minister in February 1999. As the Chancellor said in his October 1997 statement, the Five Economic Tests will define whether a clear and unambiguous case can be made. The Five Tests are: sustainable convergence between Britain and the economies of a single currency; whether there is sufficient flexibility to cope with economic change; the effect on investment the impact on our financial services industry; and whether it is good for employment The assessment has not yet started, but the necessary preliminary analysis - technical work that is necessary to allow us to undertake the assessment within two years as promised - is underway. On the basis of the assessment, the Government will take a decision on whether the Five Tests have been met. If the Government recommends UK entry, it will be put to a vote in Parliament and then to a referendum of the British people. Government, Parliament and the people must all agree. Euro Preparations Practical information to help firms understand the business implications of the euro from its introduction in the Euro area on 1 January 2002 is on the Treasury's Euro website The documents relating to the Governments policy on the Economic Monetary Union are available below in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the

43. Euro-b: The Launch Of The New Single Currency the european Union (EU) achieved its goal of Economic and Monetary Union (emu)on December 31, 1998 with the launch of the new single currency, the euro. http://infoserv2.ita.doc.gov/ticwebsite/euweb.nsf/3d1e6f0a8c9a3f93852566bb0071eb

Trade Information Center 1-800-USA-TRADE Export Questions Country Info Trade Offices Resources ... Export Programs European Union Euro-b: The Launch of the New Single Currency The Birth of the Euro (January 1999) 1. After almost 30 years, the European Union (EU) achieved its goal of Economic and Monetary Union (EMU) on December 31, 1998 with the launch of the new single currency, the Euro. In an extraordinary meeting of the Economic and Financial Council (ECOFIN), EU ministers fixed irrevocably the conversion rates between the Euro and the individual currencies of the 11 Euro zone member states and launched a new exchange rate regime, ERM II. In their speeches the ministers emphasized not only the hoped for economic benefits that the single currency could bring, especially in regard to stimulating growth and reducing unemployment, but also the desire that emu would translate into an enhanced role for Europe on the global political stage. Some discord did creep into the festivities when the issue of whether or not ECB (European Central Bank) president Wim Duisenberg would step down before the end of his eight-year term once again reared its head. 3. At the same time as it adopted the Euro rates, the Council also fixed the rates between the Euro and the Danish krone and Greek drachma. While not members of the euro zone, they will participate in a newly created Exchange Rate Mechanism II (ERM), under which the two currencies, the Danish krone and the Greek drachma, will fluctuate against the euro. The UK and Sweden have so far declined either to join either the Euro zone or ERM II. The Euro/U.S. dollar rate was set at approximately $1.17 to the euro.

44. EMU & Euro Risk Management euro emu europe european Monetary Union currency ExchangeProject Program Business Risk Management. http://www.risktrak.com/rst/solutions/emu.htm

RiskTrak Addressing EMU/Euro Transition Risk has added an EMU/Euro Interview Expert The RiskTrak EMU/Euro Interview Expert will identify many of the risks associated with doing business within Europe and internationally under EMU/Euro. Once you have answered the questions, the Interview Expert can pre-populate a project database for you. You may then add your own additional risks and begin a process of Continuous Risk Management. Using RiskTrak you will be able to identify, estimate, analyze, communicate and report on EMU/Euro risks in all your business processes. The Effect of European Monetary Union on Your Business On January 1, 1999, as part of the European Monetary Union (EMU), a single European currency, the Euro, was introduced in eleven European nations. These countries are; Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain. They now make up what is being called, the Eurozone.

45. Global Beat: Convergence: Economics, Politics, And The Euro: Table Of Contents the decision to unite europe with one currency, the economic euroReady at IBM StickerShock? produced a list of story ideas for journalists covering emu. http://www.nyu.edu/globalbeat/emu/handbook.html

Experts and Links Convergence: Economics, Politics, and the Euro A handbook for journalists covering Europe's common currency On May 2, European heads of state confirmed the launch of the euro in eleven countries next January. This handbook provides an overview of Economic and Monetary Union along with a wealth of resources to support coverage of the political, business, trade and social implications of the euro. This handbook was produced following a four-nation briefing tour from March 28 - April 4, 1998, during which ten senior journalists, editors and producers, chosen as 1998 Global Reporting Network Fellows met with government, business, labor and academic officials and experts in Washington, Brussels, Frankfurt and London to review the implications of the European common currency. Europe Counts on New Currency to Form a More Perfect Union Following interviews with dozens of key players in the transition, trip rapporteur Paul Tooher details the decision to unite Europe with one currency, the economic impact of the change, its timing, and the concerns about the success of this enormous undertaking. Sidebars: Meeting the Criteria Tackling Unemployment Impact on the US Will Britain Join?

46. EURO - The Currency The euro explanatory notes euro Papers Nr.17DG II, Feb/98 Monetary policy. emu. Single Market and the Single currency. http://www.itd.hu/euroinfo/eurocur.htm

Az EURO INFO KÖZPONT Könyvtárában megtalálható, az EURO-ról szóló könyvek, cikkek, kiadványok Your Business and the EURO - a strategic guide European Commission, Enterprise policy, 1999 The Challenge of Economic and Monetary Union; The Key to Unlocking the Euro; Impact Assessment Guide; Selecting a Euro Approach; Five Key Points to remember Round table on the Euro EUR-OP, 1996 Speches. Az Európai Unió egységes pénzügyi piaca és az ahhoz való csatlakozás kérdései MNB, 1995 az egységes pénzügyi térség fogalma és elõnyei a szolgáltatásnyújtás és a letelepedés szabadsága a Római Szerzõdés szerint. Hitelintézetekre vonatkozó EU szabályok és a harmonizáció kérdései. A bankokat érintõ egyéb irányelvek. EMU in Europe The Economist A survey of EMU, 1998, April The history of an idea Maastricht follies. Bank is born. Survey of financial Centres Economist,1998, May Capitals of Capital. Euro neurosis. Infoeuro EC, 1997, 98 information of the Euro External aspects of economic and monetary union Euro papers Nr.1 DG II, July/1997

47. Ulster Bank And The Euro - Information On The Conversion And Currency Changes over a period of weeks, leaving the euro zone with one single currency. Three MemberStates, Denmark, Sweden and the UK, do not participate in emu and have http://www.ulsterbank.com/new/roi/emu/emu_overview.asp

Home RoI EURO Legal Overview Notes Coins ... Other Euro Sites Other Group Websites Anytime Internet NCB Direct Trader Gold EMU Overview In accordance with the terms of the Maastricht Treaty, Stage 3 of EMU started on 1 January 1999. The decision to proceed, and the choice of Member States to participate in the first wave was taken by the Heads of the 15 EU governments in May 1998. The participants were decided on the basis of whether each country had achieved the required degree of economic convergence and was based on reports prepared by the EU Commission and the European Central Bank (ECB) based, in turn, on the economic criteria set out in the Maastricht Treaty. The original 11 qualifying Member States were Austria, Belgium, Finland, France, Germany, Holland, Ireland, Italy, Luxembourg, Portugal and Spain. On 1 January 1999 their currencies were linked to each other and to the euro on the basis of irrevocably fixed conversion rates. On 1 January 2001, Greece became a participating Member State and linked its currency to the others. On 1 January 2002, euro notes and coins were introduced and the national currencies of the twelve participants were withdrawn over a period of weeks, leaving the euro zone with one single currency.

48. Accounting Directory - EMU/Euro Guide for Companies euro 2002 Introduction to the euro currency for Beginnersand Professionals euro Brief Overview, emu Implementation, Fiscal http://www.cpateam.com/accounting-emuandeuro.htm

ACCOUNTING DIRECTORY - EMU/EURO All About the Euro EU States, Banking Regulations, News and a Currency Converter Alphametrics FXAT Euro Currency Compliance Association for the Monetary Union of Europe Detailed Information Regarding the Euro Association for the Monetary Union of Europe EMU and the Euro Links Bank of England Practical Issues Arising From the Euro and Its Impact on Business ComLinks.com Preparing Information Systems for the EURO CompuWare Ensures Quality in Euro Conversion Projects CPMnet Currency Compliance - Next IT Headache: Impending Euro Conversion The Double Whammy Year 2000 and EMU EmuNet Independent Hub for Information and Debate on Emu from the UK Perspective EU Central Banks Central Banks and International Organizations on the WWW Euro Everything You Wanted to Know About the Euro (But Were Afraid to Ask) Euro One Currency for Europe: "Euro Essentials" and "The Euro and You" Euro Preparation Guide for Companies Euro 2002 Introduction to the Euro Currency for Beginners and Professionals Euro Brief Overview, EMU Implementation, Fiscal Convergence and Impact Assessment

49. SIBRA GmbH - Ein PROST Auf Den EURO - EURO-PROST, EURO, Umstellung, EURO-Calcula Additionally C_PROST has passed the Reference Test for euro currency conversionsof Deutsche Bundesbank. For nonemu currencies (eg USD, GBP, CHF) you need the http://www.sibragmbh.com/Current/E/Produkte/UmrBeispiele_in_ExcelAccess.htm

Examples for C_PROST Euro Conversion Functions in MS Excel and MS Access Conversion of DEM-Amount into EUR-Amount, result as a number Conversion of DEM-Amount into EUR-Amount, result as a string Conversion of EUR-Amount into DEM-Amount, result as a number Conversion of EUR-Amount into DEM-Amount, result as a string Comfortable Conversion Support with Control Key Combinations Ctrl e Ctrl d Many other control key combinations for further currency conversion functions and services are available. Examples: =SUM(A17:A30) SUM(A17:A30) The conversion functions DEM_EUR, EUR_DEM, etc. are examples for simplified conversion functions which call internally the C_PROST standard conversion functions VB_U1 to VB_U4 with setting some of their parameters to fixed values. Each user can easily implement such private conversion functions for the purposes he needs, e.g. NLG_EUR, EUR_GBP, USD_DEM, etc. The Euro conversion functions are available as Excel and Access function calls . You can execute a currency conversion function by calling the wanted function in an Excel cell or by calling the function in an Excel or Access VBA macro statement Example in an Excel cell: or =DEM_EUR(C10) C10 = cell reference Example as VBA function call: Function RoundDiff(DEM_Amount As Double) As Double ' Calculate the difference with conversions Dim EUR_Amount_D As Double Dim DEM_Amount_D As Double Dim DEM_Amount_S As String Dim EUR_Amount_S As String DEM_Amount_S = Str(DEM_Amount) EUR_Amount_S = Str(EUR_Amount_D)

50. Cyber-Europa: Euro, EMU And Currency Training Cybereuropa euro, emu and currency training for companies wishing to to providetraining for all staff into the implications and practicalities of handling http://www.cyber-associates.com/side1.htm

Who we are What we do Managing the Message - Active Information ... Contact Us © Cyber Associates Ltd 2002

51. Zagrebaèka Banka D.d. Euro Zagrebacka Banka clients can continue to hold their foreign currency accounts inthe currencies the emu countries, a euro accounts will be automatically opened http://www.zaba.hr/info/euro/euroeng.htm

After a year of preparations, 1 January 1999 will mark a new currency for the 11 nations participating in the European Monetary Union (EMU) – the euro. The EMU member states are Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Holland, Portugal and Spain. From January 1, 1999, all non-cash transactions can be conduct in euro. Cash payment, however, must still be conducted in the national currencies. The dual currency period will last three years after which, on January 1, 2002, euro bills and coins will be put into circulation. National currencies are to be withdrawn from circulation July 1, 2002. What will happen with your accounts at Zagrebacka Banka? Zagrebacka Banka clients can continue to hold their foreign currency accounts in the currencies the EMU countries, a euro accounts will be automatically opened when the first euro deposits are made to the foreign currency accounts. Zagrebacka Banka clients can also decide to convert their existing EMU national currencies to the euro and conduct all their banking business in the euro. The bank will provide the foreign currency services for the 11 EMU currencies when all business is conducted in the euro. How will the introduction of the euro affect savings in the EMU national currencies?

52. Euro - The Facts - What Is The Euro? What is the euro? Twelve european countries (the 'eurozone') have chosen to replacetheir existing currency with a new, single european currency the euro. http://www.nationwide.co.uk/newsinformation/emu/facts.htm

[skip over navigation area] About Nationwide Your Nationwide City Information ... The Currency Euro - The Facts What is the Euro? Twelve European countries (the 'eurozone') have chosen to replace their existing currency with a new, single European currency - the Euro. The countries that make up the eurozone are: Austria Belgium Finland France Germany Greece Ireland Italy Luxembourg The Netherlands Portugal Spain What does it look like? A euro is made up of 100 cents. Euro notes and coins How much is the Euro worth? The exchange rate fluctuates daily. To get the latest exchange rate, please refer to the national press, Teletext (page 498 on C4), the Post Office, banks, travel agents and bureau de change.

53. EURO The european Council in Madrid 15/16 December 1995. Named the future single currency euro ; Confirmed the starting date for 3rd stage of emu as 1 January 1999; http://www.eurplace.org/euro/croneur.html

A short E URO-story: the basic stages of the single currency creation 1 July 1990 The first stages for achieving EMU Before the implementation of the Maastricht Treaty Free movement of Capital Reinforcement of Convergence Evaluation by the council of progress achieved towards convergence Creation of EMU and Introduction of the Euro The Maastricht Treaty: Signed in February 1992 Ratified by all member states Entered into force on 1 November 1993 Constitutes the legal basis for EMU and the single currency The Treaty defined: Creation of EMU in 3 stages The conditions for participation in the final stage of EMU The European Council in Madrid - 15/16 December 1995 Named the future single currency "EURO" Confirmed the starting date for 3rd stage of EMU as 1 January 1999 Defined the Scenario for the introduction of the single currency 1 January 1994 The second stages for achieving EMU Establishment of the European Monetary Institute (IME) Independence of each national central bank Monetary financing of budget deficits is forbidden (credit provided by the central bank) Privileged access for the state to financial institutions Co-ordiantion of macro-economic policies Surveillance of budgetary situation in member states Challanges to be met in 1996 1. The legal bases of the Euro

54. Europarl: The Euro - The Single Currency And The European Parliament maintenance of the Cohesion Fund following the start of emu Stage 3 to Proposed Regulationson the introduction of the euro as a Single currency were voted http://www.europarl.eu.int/euro/2_pe/2_pe2_en.htm

template_mover_menu = "default_en.htm"; template_mover_prev = "2_pe1_en.htm"; template_mover_next = "../3_uem4/default_en.htm"; template_page_sendmail = "/guide/faq/default.htm"; var linguistic_bar_tab = new Array( new Array("es", "2_pe2_es.htm", "2"), new Array("da", "2_pe2_da.htm", "2"), new Array("de", "2_pe2_de.htm", "2"), new Array("el", "../default_el.htm", "2"), new Array("en", "", "3"), new Array("fr", "2_pe2_fr.htm", "2"), new Array("it", "2_pe2_it.htm", "2"), new Array("nl", "2_pe2_nl.htm", "2"), new Array("pt", "2_pe2_pt.htm", "2"), new Array("fi", "2_pe2_fi.htm", "2"), new Array("sv", "2_pe2_sv.htm", "2")); original_url = "http://www.europarl.ep.ec/euro/en/2_pe/2_pe2.htm"; Page_Initialization("/wwwroot", "/wwwroot/euro/2_pe", "en", "/wwwroot/euro/2_pe/2_pe2_en.htm"); PARLIAMENT AND EMU The European Parliament will carry out tasks within EMU at three levels: Legislative Supervisory Deliberative Parliament's Legislative Role Parliament's Supervisory Role Rule 36 Parliament's Deliberative Role ... The Euro and the citizen Parliament's Legislative Role The European Parliament must be consulted, and a parliamentary vote taken, on:

55. Euro The European Single Currency euro The european Single currency. The subject of european Monetary Union (emu) isan important and controversial issue facing the members of the european Union http://www.greekshares.com/euro.asp

Free Registration New User Username Password ... Home Investing Articles Read the Articles Editorial Policy Contribute Your Article Learn to Invest Intro to Investing Saving vs Investing Always Investigate! Investing Education ... Deadly Mistakes! Plan Your Future Improve Your Finances Financial Future Financial Planning Selecting an Advisor ... Financial Calculators Services Investment Advice Information Services Market Analysis Helping Investors ... World Daily Market Brief Brokerage Account Open an Account Account FAQ's What is Stock? The Stock Market ... Find a Stockbroker Stock Trading Online Trading Secure Ordering Trading Issues Securities Fraud Contact Information Learn About Me Customer Support Questions - Suggestions Link to Us ... Contact EURO The European Single Currency The subject of European Monetary Union (EMU) was an important and controversial issue for the members of the European Union since the date of the monetary and currency union (March 1, 2002). While politicians and diplomats met and went forward with the formal arrangements for a single European currency, at the grass roots level there were considerable anxiety on the part of average EU citizens. Will convergence bring economic prosperity, or will the measures required for entry into the EMU further depress the already stagnant job market in much of Europe?

56. Euro - EMU Economic and Monetary Union (emu) is an area with a single currency, the euro, withinthe european Union (EU) single market in which people, goods, services http://www.bportugal.pt/euro/emu/emu_e.htm

Single Monetary Policy Convergence Criteria Non-Participating Member States Exchange Rate Mechanism ... Chronology Economic and Monetary Union Economic and Monetary Union (EMU) is an area with a single currency, the euro, within the European Union (EU) single market in which people, goods, services and capital move without restrictions. As trade between the EU Member States amounts to 60% of their total trade, EMU is the natural complement of the single market. With the single currency, the benefits of the single market will be delivered more fully with the removal of the transaction costs brought about by currency conversions and the elimination of exchange rate variations which disrupt trade and investments. As the name itself indicates, EMU has two sides: the monetary and the economic, both gathering in the pursuit of ensuring a framework for nominal stability, a condition necessary to obtain low interest rates and, consequently, a sound and sustained growth in the medium and long term. The single monetary policy , conducted by the European System of Central Banks (ESCB) from 1 January 1999 onwards, has the purpose of maintaining

57. Guernsey And EMU currency units. My business has various emu country currency bank accounts.Can they be amalgamated into a euro account? Yes. Most http://www.gov.gg/emu/banksmain.htm

BANK PRODUCTS AND SERVICES What euro products and services will banks offer to Bailiwick businesses? It is likely that most Bailiwick banks will provide a comprehensive range of euro products and services to meet their business customer requirements. These products and services will probably include:- • electronic methods of controlling the management of funds and information; • euro-denominated bank accounts - current and deposit accounts, overdrafts and loans; • the ability to send and receive payments in euro; • the ability to draw and pay-in euro-denominated cheques; and • the ability to draw and process trade products, such as letters of credit and guarantees. If you have electronic systems provided by your bank to monitor your accounts, you should contact the bank and discuss your euro requirements. Will I be able to make payments in euro ? Yes. You should consult your bank for advice on the best way this can be achieved. Banks located in the territory of the European Union will be obliged not to pass on any costs resulting from converting sums denominated in national currency units into euro. Will euro-denominated bank accounts be available for businesses?

58. Guernsey And EMU in the existing national currency of an emu country can continue to be expressedin a national currency which will become a nondecimal unit of the euro on 1 http://www.gov.gg/emu/legalmain.htm

LEGAL ISSUES What impact does the introduction of the euro have on my existing business contracts? Both the Working Party and the States Advisory and Finance Committee have considered the legal implications for the Bailiwick arising from the scheduled introduction of the euro. In this regard, the Committee has sought expert advice from a major firm of London based legal consultants versed in European Union law. The most pressing legislative concern for local businesses arising from EMU is that of ensuring legal certainty in connection with the continuity of contracts and other legal agreements which may be affected by the new currency. Briefly, many businesses wish to receive clarification that parties to contracts and legal agreements are unable to escape from their contractual obligations merely because the currency of payment has been replaced by the euro. As a result, the States of Guernsey has approved local legislation called the European Communities (Euro: Miscellaneous Provisions)(Guernsey) Ordinance, 1998 which provides for certainty on this issue. The Ordinance also provides for the replacement of the ECU by the euro. Similar legislation entitled the European Communities (Euro: Miscellaneous Provisions)(Alderney) Ordinance, 1998 has been approved by the States of Alderney. This does not mean that contracts will be completely unaffected by EMU. Parties may wish to terminate contracts because of EMU or amendments to contracts may need to be made to take account of practical issues such as a change in what constitutes a business day within the EMU countries from 1 January 1999.

59. APPENDIX 9: OUTLINE CHRONOLOGY OF EURO EVENTS the Member States of the EU confirm that eleven Member States, including Ireland,qualify to participate in emu and adopt the single currency, the euro, from 1 http://www.gov.ie/ecbi-euro/4th_annreport/w_apnd_9.htm

APPENDIX 9: OUTLINE CHRONOLOGY OF EURO EVENTS 7 February 1992 Treaty on European Union signed at Maastrict. 18 June 1992 Maastricht Treaty endorsed referendum in Ireland. 31 May 1995 European Commission publishes Green Paper on Practical Arrangements for the Introduction of the Single Currency. Autumn 1995 Single Currency Officers Team (SCOT) established in Ireland by the Department of Finance. December 1995 European Council meeting in Madrid confirms 1 January 1999 as the starting date for stage three of Economic and Monetary Union (EMU), adopts a reference scenario for the changeover to the single currency and names the currency "euro". Spring 1996 Euro Changeover Group established to advise the Department of Finance on technical issues in the run-up to the 1998 Council decision on which Member States qualify for EMU and to help coordination of the changeover across the economy. December 1996 Forfás EMU Business Awareness Campaign launched. December 1996 European Council meeting in Dublin confirms that the Treaty procedure for deciding which Member States fulfil the necessary conditions for EMU will be applied as early as possible in 1998. May 1997 First edition of "EMU and the euro: Ireland's National Changeover Plan" published.

60. GnuCash And The EURO Introduction. On January 1, 1999, eleven european Union countries formed an economicand monetary union (emu) and started using a single currency the euro. http://www.gnucash.org/docs/C/xacc-euro.html

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