Can someone explain to me why it seems so difficult to obtain the new European currency? My local bank (and another one too!) have told me they have run out of it! I will soon be taking my annual vacation in Europe and wanted to have a small supply of Euro cash before leaving. I guess a lot of people have been hoarding the new currency in connection with Y2K. Has anyone had similar experiences?

Are you serious? The Euro only exists in theoretical form! On 1 January 2002 it will become available in the form of notes and coins. I don't know what kind of bank you have but under no circumstances could they have "run out" of something which does not exist!

Well actually my local bank didn't really seem to know about this new currency! <BR>How can Europeans have a new currency if it does not exist in any physical form? This does not make any sense! Is the Euro perhaps just a reserve currency for the European FED?

The Euro will become a real currency on the date I said before. Until then, we are supposed to be getting used to the idea. Theoretically, shops now show prices in the old and new currencies and payslips, invoices etc. do the same. Of course this is often not the case and I suspect that most Europeans are not really convinced that it will become a reality. It will however be good for Americans as the Euro is virtually 1 for 1 with the dollar.

Adam, sorry but you are wrong: the euro really exists and not only in "theoretical form". <BR> All information on the euro can be found at: <BR>http://www.faqs.org/faqs/travel/europe/euro/ <BR>

Dear Sjoerd <BR>Thank you for the information. I work in the European Commission so I do know a little about the Euro already. My explanation of the currency being "theoretical" at present seemed the simplest way of explaining such a phenomenon to a non-European. You must admit that a currency without either notes or coins in common circulation must be a little confusing!

A 'Primer for Travelers' on the euro may be found at http://twenj.com/euro.htm <BR> <BR>Adam is right about a currency without paper bills or coins being a bit confusing. On the other hand in most developed countries 'currency' is almost 'theoretical' since probably 80-90% of all transactions take place without the exchange of paper money or coinage. Electronic transfers, checks and cards have replaced these. Travel in Western Europe is no different <BR> <BR>

One minor "correction" to the notion that shops "theoretically" display prices both ways. <BR> <BR>I don't want to sound like I know more than a local european ([email protected]), but from a tourist/travelers' perspective, it seemed to me this past fall that almost all shops ACTUALLY display prices both ways - - so mental calculations of prices to dollars (at essentially 1:1) have become a thing of the past - - as long as near-parity hangs in there. <BR>

As usual (well, most of the time!), you're right on, Rex!

Rex - you're probably right but I have to say that here in Brussels, the "capitol of Europe", I haven't noticed that much evidence of the two prices being shown! Pehaps you were in a more European minded part of Europe!

Adam, that's bad news for American tourists in Belgium. It's not fun converting Belgian Francs to Dollars (let's see, BF1100 divided by 38 is ...uh...)

Adam, <BR> <BR>I suppose the difference in perceptions may have to do with the kinds of places tourists and travelers go,k versus "everyday" places you go in your "real" life. I don't know about prices at the barber, the dry cleaners, etc. And I haven't been to Belgium since 1996. <BR> <BR>I probably also favor Internet-connected hotels, restaurants, etc. - - these places may have adopted dual pricing in a way that is out of proportion to their less "branché" counterparts.

The value of the Euro as a medium of exchange is fixed in its relationship to the national currencies that are in the "Union", but the value of the Euro floats agains the dollar and other currencies. It is a virtual currency used by financial institutions, until coins and paper bills appear, as others have described, but using the Euro <BR>simplifies inter European financial transactions because of the fixed evaluations of local currency against the Euro. In the past there were all kind of games being played when a multi country firm evaluated its inventory for tax purposes. <BR> <BR>Whether or not national currencies will cease to exist remains to be seen. I personally have difficulty in believing that the British Pound and the German Mark will fade into history. <BR> <BR>Do any of you forsee the US dollar being replaced some common currency shared among the USA, Canada, and Mexico?? (I would anticipate mass protests.) <BR>Whether or not the nearly 1:1 ratio between the dollar and the Euro will continue is problematical. With the USA running a huge trade imbalance on the negative side, the strong dollar cannot continue forever. Enjoy it while you can!! I recall that the French franc was on the order of 5.5 to the dollar rather than 6.3, and it hasn't been that long.

Well, I am an economist, so don't believe me but the US$ will drop against the euro. Today the US$ is around 1.0360 against the euro, and my bet is that it will be closer to US$ 1.20 to the euro later this year. So all you Americans that are going to travel to the euro zone: buy your foreign currency today! No warranty given! <BR> <BR>To Bob: it is a CERTAINTY that the German Mark (and all the other "member currencies" of the euro) will disappear per January 2002. Officially, it has disappeared already. (German marks today are only "units of expression" of the euro) <BR> <BR>Sjoerd <BR>

The sou disappeared, the farthing and ha'penny disappeared - - it's mind-boggling, but I suppose that the disappearance of the franc and the lira will be no less earth-shaking. <BR> <BR>I for one will not miss such confusing abbreviations as NLG and Dfl (synonyms). <BR> <BR>And by Y3K, I won't be surprised if the dollar has substantially changed or disappeared also. <BR> <BR>How many major currencies can you name from Y1K?