Launching the Euro

On January 1, 2002, 290 million Europeans will receive their new currency — the euro. Although international business transactions have been conducted in euros for two years, the coins and notes of this new currency are only now made available to the public. Our new Globalist Factsheet takes a look at what Europeans — and the world — can expect once the euro is there.

How will the euro be launched?

After the debut of the euro on January 1, 2002, customers will be able to pay for goods with their traditional national currency for as long as two months — but the change they receive will be in euros only.

(Wall Street Journal)

How much “hardware” will be necessary to make the euro a reality?

Over 14.5 billion euro banknotes will have to be produced before January 1, 2002. Of those notes, Germany will produce 4.3 billion, France 2.5 billion, Italy 2.4 billion — and Spain 1.9 billion.

(European Central Bank)

How can one put that amount of money into perspective?

If all of the 14.5 billion euro notes were stacked up in a single pile, it would be about 168 times higher than Mount Everest.

(Economist)

What about the new coins?

The weight of all new euro coins comes to 239,000 tons, equivalent to the weight of 24 Eiffel towers. All told, 50.6 billion euro coins will be put into circulation.

(Economist)

Will everyone get the same money?

As of 2001, Germany is the only country that will print euro notes with denominations larger than