Part one of term paper
11 nations merged currencies to create the euro. Europe’s leaders say that the unified currancy will promote bussiness, underpin unity and strengthen their role in world affairs. Officially at midnight on New Year’s Eve the euro became the common currency of Germany, France, Italy, Spain, the Netherlands, Belgium, Austria, Portugal, Finla ...

Part two of term paper
... on Jan. 1, 1999, “ German Chancellor Gerhard Schroeder wrote in the Handelsblatt bussiness daily. The new euro currency is worth 1.95583 German marks, 6.55957 France francs, 1,936.27 Italian lire, 166.386 Spanish pesetas. The euro is expected to opne the market at about $1.1665, 133 Japanese yen and 70 British pence. The currency will be slowly fazed in. The new euro notes and coins will not be issued to replace the Irish pounds, Portuguese escudos, Austrian schillings until 2002. The currency wil ...