41. Impact Of The European Single Currency Any amount denominated either in euro or in a national currency unit of a given emuParticipating State and payable within that state by crediting an account http://www.iccwbo.org/home/statements_rules/statements/1998/impact_of_euro.asp

Policy statement The impact of the European single currency (euro) on monetary obligations related to transactions involving ICC Rules Commission on Banking Technique and Practice , 6 April 1998 The International Chamber of Commerce (ICC) is the world business organization, based in Paris. The ICC Commissions on Banking Technique & Practice, International Commercial Practice, and Insurance, develop and maintain uniform rules for international trade, including the Uniform Rules for Contract Guarantees (URCG 325), Uniform Rules for Demand Guarantees (URDG 458), Uniform Customs and Practice for Documentary Credits (UCP 500), Uniform Rules for Collections (URC 522), Uniform Rules for Contract Bonds (URCB 524), and Uniform Rules for Bank-to-Bank Reimbursements (URR 525) (hereinafter referred to collectively as "ICC Rules"). The Introduction of the European single currency (euro), shall not have the effect of altering, discharging or excusing performance under any instrument subject to ICC Rules. This Decision emphasizes the need to correctly interpret and apply ICC Rules. Consequently, ICC national committees and associated organizations are strongly urged to distribute this Decision as widely as possible to help ensure the future smooth running of the instruments issued under ICC Rules. This Decision does not amend any articles of ICC Rules in any way, but merely indicates the correct interpretation thereof which has been adopted unanimously by the ICC Commission on Banking Technique and Practice, on 6 April 1998.

42. Euro-NI - Help Legally, the euro became the official currency of Member states participating in emu on 1 January 1999. Back to top. european Community (EC). http://www.investni.com/euro/help_glossary.htm

Glossary The glossary of terms and acronyms is available in alphabetical order. Choose the first letter of the term you want to clarify. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Conversion rate The ratio between two currencies used to convert values from one currency to another. Currency converter A method of converting the value of a country's currency into the value of another country's currency. Our currency converter allows you to automatically convert amounts between currencies. The converter is only a guide based on market exchange rates and may differ from exchange rates offered by banks at any given time. Back to top Dual circulation period On 1 January 2002 and for a period of six months, notes and coins expressed in euro and in national currencies co-existed at the same time as the notes and coins of the old currencies which were progressively withdrawn and replaced by euro notes and coins. Back to top Euro The euro was first mentioned in the Maastricht Treaty as the European accounting unit. The euro replaced its predecessor, the

43. The Euro And EMU The euro and emu 1 March 2002 the euro becomes the ten years of preparations, 12 european countries have given up their national currency forever and http://jpn.cec.eu.int/english/general-info/5-5-0.htm

Europe Day, European Flag and Anthem Brief History of European Integration Basic Information about the European Union Institutions The Euro and EMU Steps Leading to the Euro A Guide to the Euro and EMU (Japanese only) Related Speeches Frequently Asked Questions External Relations of the EU Enlargement ... Food Safety The Euro and EMU 1 March 2002: the euro becomes the sole legal tender of twelve European countries. After more than ten years of preparations, 12 European countries have given up their national currency forever and adopted a common currency: the euro. On January 1 2002, euro banknotes worth 133 billion euro began circulation. By 1 March 2002, 242 billion euro worth of notes were circulating across twelve countries. Over 300 million people have been affected by this change. Never before has such an operation been undertaken on this scale. The euro has been introduced in: Belgium, Germany, Greece, Spain, France, Ireland, Italy, Luxembourg, Netherlands, Austria, Portugal and Finland.

44. International Effects Of The Euro The Questions Questions regarding the international effects of the emu are not Will the euro become an important reserve currency, challenging the http://www.brookings.edu/comm/PolicyBriefs/Pb042/pb42.htm

International Effects of the Euro E uropean Monetary Unionalso known as the euro-zone and eurolandcame into existence on January 1 among eleven countries of the European Union with a new currencythe euroand a new European Central Bank. Having the same currency, the eleven countries are likely to enlarge their mutual trade. The euro's exchange rate will float in terms of the dollar and the yen. Some neighboring countries will adopt the euro as their reserve currency but it is likely to become a worldwide reserve currency, competing with the dollar, only gradually. The same is true of the euro's function as an international asset and means of payment for the private sector. The United States has every reason to welcome this further step in European economic and financial integration. By Robert Solomon Economic and Monetary Union (EMU) in Europe will come into effect on January 1, 1999, among 11 countries of the European Union (EU). The single currencythe eurowill enter into use, and the European System of Central Banks (ESCB) will establish a common monetary policy for what has come to be called euroland. This will be a historic event. For the first time since the Roman Empire, a good part of Europe will have the same currency. The euro will also have the unusual quality of not being issued by a sovereign government.

45. Dossiers / Euro currency emu and the euro - Dossier Financial http://www.strategic-road.com/dossiers/eurofr.htm

Votre publicité sur Strategic-Road.com Carte, Map A propos About Legal Legal ... help er Sem 04 Top Net-Influence des sites d'Intelligence économique et stratégique Nos sponsors (publicité) (publicité) Parmi nos Sponsors 2004: Eisti.fr Geopolia.com Netcost-Security.com Accueil ... After eight Votre utilisation de ce site constitue votre acceptation de ses Conditions d'utilisation Tous droits réservés, All rights reserved Certifié IDDN Parmi nos Sponsors Eisti.fr Geopolia.com Intelligence Stratégique, Strategic Intelligence Conditions d'utilisation Accueil Dossiers / Mise à jour EURO, Monnaie unique européenne EMU, European Monetary unit L'actualité de l'Euro Euro news L'Euro, Sites officiels Euro, Official sites ... Euro, Useful Nous vous proposons les liens qui suivent pour votre recherche et ces liens ne sauraient en aucun cas exprimer, evoquer ou refleter une quelconque position de Strategic Road sur le sujet. Certains de ces liens peuvent avoir une durée de vie limitée et ne plus être accessibles au moment où ils sont consultés. We offer the following links for your research and therefore they should not be construed as evocating or reflecting any position of Strategic Road. Some links can have a limited lifetime and may not be accessed anymore where you'll click them

46. Euro And EMU directory Economics and finance - Economics article. Subject directory. euro and emu. Information about the euro currency. Select a section. http://www.direct.gov.uk/QuickFind/SubjectDirectory/EconomicsAndFinance/Economic

47. SSRN-The Impact Of Euro On EMU Trade: The (Early) Effect Is Not So Large By Clau of the euro adoption on commercial transactions of emu countries. We refer to the abundant gravitymodel literature about the effect of currency Unions on http://papers.ssrn.com/sol3/papers.cfm?abstract_id=366021

48. EMU-EURO On January 1, 1999, the third stage of emu began. The euro became a currency on its own right and the exchange rates were definitiely fixed. http://www.euwebring.org/euro.htm

THE EUROPEAN MONETARY UNION (EURO) On the 13 MArch 1979 the European Monetary System was created(EMS).The EMS has created a zone of monetary stability in Europe,encouraging growth and investement.It was based on the ecu(a basket of the currencies of the Member States),on the exchange rate and intervention mechanism(based on that each national currency had a central exchange ratelinked to ecu and bilateral rate exchanges were allowed to fluctuate within a band of 2.25%,or up to 6%,increased finally at 15%)and the credit mechanism(when the bilateral exchange rates are approaching the 15% limit,the bnks have unlimited liability to intervene to not pass the limit of 15%).In order to remove the non-tariff barriers to the free movements of good,capital,services and persons,the EMS wasn't anymore enough and so the single currency became a necessity.The european monetary union was established during the Treaty of Maastricht which entered into force in 1993. Its formation spanned three stages: Stage I At this initial the Member States drew up convergence programmes designed to promote improvements in the convergence of economic performance, thereby making it possible to establish fixed exchange rates.

49. What Is EMU after the emu launch with a view to optimizing yields and diversifying risk, says Deutsche Bank’s Hoffman. The euro’s share of world currency reserves http://www.eseune.edu/protegido/14.htm

EMU and the Euro. Impact in world’s economy. How will it affect the dollar. XIV- Asia eyes opportunities and threats of euro currency. I have looking for some articles or news about how Asia thinks about the euro, I have found two really interesting ones in which we can see how the new european currency will be an opportunity for the Asian markets and investors, although some of them see it as a threat, and how they are going to face it. This article was published in the "Far Eastern Economic Review v. 160 (July 3, 1997) pag.98 Riding the EMU. Asia eyes opportunities and threats of euro – currency. If you are talking money, you can count Takashi Osawa as a euro phile. Heading back to Tokyo after nine years in Brussels, Nissan Europe’s general manager for corporate affairs says he is convinced the European Union’s planned launch of a single currency on January 1, 1999, bodes well for Asian business. "It will currency risks and simplify accounts" Osawa predicts. " It will helps us to reduce transaction costs, cut currency risks and simplify accounts" Osawa predicts. "I think it will be positive development. Another Japanese car maker, Toyota, also hopes for the euro and is factoring the currency to be into its European investments plans. So much so that Toyota’s president Hiroshi Okuda, provoked a furore in Britain in January by hinting that the company might redirect investment to continental Europe if Britain stayed out of European monetary union, known as EMU. Toyota has since reaffirmed its commitment to Britain. Nonetheless, the country’s new Labor Government was effectively warned to maintain its euro – friendly stance if it wants Asian companies to stay. Asia is fast waking up to the impact of the euro.

50. What Is EMU How will it affect the dollar. IV What will the euro be like? From January 1999 on, the euro will be the Single currency for all Member States of emu. http://www.eseune.edu/protegido/4.htm

EMU and the Euro. Impact in world’s economy. How will it affect the dollar. IV- What will the euro be like? From January 1999 on, the euro will be the Single Currency for all Member States of EMU. `Euro' replaces the term `Ecu' (European Currency Unit) used in the Maastricht Treaty to refer to the European Single Currency. It will also be different, since the currencies of Austria, Finland and Sweden were not included in the Ecu basket. One euro corresponds to 100 cents or euro-cents. There will be seven euro notes ( a picture of the them can be seen on the cover of this report) and eight euro coins. Their distribution will only start on 1 January, 2002, and will be completed six months later. The euro coins and notes will be the same size in all EMU member countries. There might be national symbols, but any euro coin or note will be valid throughout the EMU. Coins and notes will have to be very similar to be accepted easily by shopkeepers Europe wide. Its value will be that of the basket Ecu i.e. a combination of national currencies at their exchange rate of a given day. The value will be fixed by the European Council by a unanimous vote. That procedure will prevent any manipulation of the exchange rates in the last weeks or days before the first day of Stage Three of EMU, thus guaranteeing a fair and sound value of the euro for every country. The euro has to be as stable as the most stable European currencies. If not, several Member States would not be willing to give up their national currency. The purchasing power of the euro will be the same as that of national currencies when divided by their respective exchange rates. Prices and wages will be simultaneously converted at the same rate.

51. Evolution Of The Euro And The EMU The euro is legal tender in “euroland”—the 12 the conversion to a uniform currency in January and comprise the european Monetary Union (emu). http://www.bizsites.com/2002/may/article.asp?id=55

52. Welcome To FOREX Bank - Currency - Info About Euro - EMU Countries - emu countries. euro is the local currency in the following countries Germany, the Netherlands, Belgium, Luxemburg, France, Spain http://www.forex.se/page.asp?sectionId=891&Changelang=en

53. Euro And EMU Skip to navigation. euro and emu. Information about the euro currency. Key websites. Bank of England and the euro. euro now in Business. euro Taskforce for Wales. http://www.ukonline.gov.uk/QuickFind/EconomicsFinanceSubCategory/fs/en?CONTENT_I

54. The EMU And The Euro rules (the socalled acquis communautaire) except for the emu and euro-related ones. Regarding monetary policy, Denmark has linked its currency to the euro http://www.minfin.nl/default.asp?CMS_ITEM=MFCR3713314DB708211D5BFFF00104B3FBE32

55. EMU And Finland: I. Chapter This entailed the introduction of the single currency euro. It was also stated that the Parliament would decide whether to participate in the emu on the basis http://www.mv.helsinki.fi/home/tasplund/EMUchap1.htm

EMU and Finland Abstract About This Publication EMU and Finland - Essay: Chapter: Participation in the EMU and Its Third Stage Chapter: The Economical and Political Effects of Finland's Participation in the Euro Area Chapter: Finland's Future as a Member of the EMU and the Euro Area Related Links I. Chapter: Participation in the EMU and Its Third Stage In the spring of 1995 the Government stated in its program that it aimed for Finland to fulfil the convergence criteria of the EMU to allow Finland, if so decided, to participate in the third stage from the outset. This entailed the introduction of the single currency euro. It was also stated that the Parliament would decide whether to participate in the EMU on the basis of a separate Government Bill. In the meanwhile, when the political debating on whether Finland should join the currency area or not was going on, economical and monetary preparations for Finnish participation in the euro area were already made. The Bank of Finland was a member of the EU's European Monetary System (EMS) from the beginning of 1995. Finland joined the Exchange Rate Mechanism (ERM) in October 1996. By joining the ERM, Finland strengthened its exchange rate policy co-operation with the other EU member states. According to the Maastricht treaty regarding the convergence criterion for the exchange rate it was required that the rate had been stable for two years prior to the examination and that the currency had participated in the European Exchange Rate Mechanism.

56. EMU And Finland: III. Chapter of the emu and the euro Area. The central objectives in Finnish economic policy are an improvement of employment based strong economic growth, a stable currency http://www.mv.helsinki.fi/home/tasplund/EMUchap3.htm

EMU and Finland Abstract About This Publication EMU and Finland - Essay: Chapter: Participation in the EMU and Its Third Stage Chapter: The Economical and Political Effects of Finland's Participation in the Euro Area Chapter: Finland's Future as a Member of the EMU and the Euro Area Related Links III. Chapter: Finland's Future as a Member of the EMU and the Euro Area The central objectives in Finnish economic policy are an improvement of employment based strong economic growth, a stable currency and a decrease in the public dept. These objectives would have been the same whether Finland participated in the euro area or not. The main focus is on the instruments with which welfare, growth and secure employment could be best achieved. The instruments used are different for Finland as a member of the euro area compared to the situation outside that area. But it is also important to remember that even if Finland had stayed outside the single currency area, the economical and political environment would not have been the same as before. The participation in the Economic and Monetary Union is a complex issue from the viewpoint of the economy, economic policy and politics. As mentioned before the answer to the question whether adopting the single currency is a successful economic policy or not, will depend on how well households, enterprises and interest groups will understand the new circumstances and the terms of successful operation within the new framework. Furthermore, by being a participant country, Finland secures a continued role in the development of the European Union.

57. Accounting Directory - EMU/Euro Guide for Companies euro 2002 Introduction to the euro currency for Beginners and 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

58. THE EURO - A SINGLE CURRENCY FOR EUROPE then, preparations have been gathering pace at both european and national level for the transition to the single currency (the euro). Making the emu a reality http://www.europeanmovement.ie/emu_sp.htm

THE EURO A SINGLE CURRENCY FOR EUROPE [Background] [The Impact of the EMU] [The New Currency] [The British Question] ... [Conclusion] Background While economic and monetary union has been an ambition of the European Union since 1969, it was not until the Maastricht Treaty that EU Member States undertook to adopt a common currency. The Irish people voted for participation in Economic and Monetary Union (EMU) when we ratified the Maastricht Treaty in 1992. Since then, preparations have been gathering pace at both European and national level for the transition to the single currency (the euro). Making the EMU a reality requires a degree of economic convergence between the participants within the euro-zone. The Maastricht Treaty laid down strict criteria that entail low inflation rates, low interest rates, no excessive government deficits and stable currencies. In May 1998, EU leaders confirmed which Member States were eligible to join the single currency. Of the fifteen Member States, eleven who met the criteria constituted the Euro-zone*. Three Member States chose not to enter EMU at the initial stage (Denmark, Sweden and the UK) while Greece failed to meet the criteria. The 11 member euro-zone constitutes a market of 290m people. This compares with markets of 268m in the USA and 126m in Japan. The Impact of EMU The challenge for the single currency is to encourage a low inflation environment, with low interest rates that will attract and encourage investment. This in turn should stimulate further job creation. In essence, a successful single currency would lower transaction costs and increase price transparency, thereby helping to foster competition within the Single European Market. It is no coincidence that Ireland's recent economic success has been achieved in a sustained period of low interest rates.

59. Euro Currency Converter COM Add-in For Microsoft Project 2002 If your project costs are displayed in a european Monetary Union (emu) currency, they can quickly be converted to euro currency, without affecting your http://msdn.microsoft.com/library/en-us/pdr/PDR_comAddInCurrencyConv_3359.asp

MSDN Home MSDN Library Microsoft Project COM Add-ins for Microsoft Project 2002 Euro Currency Converter COM Add-in for Microsoft Project 2002 Summary Download The Euro Currency Converter COM Add-in (prjcomeu.exe) is available from the Microsoft Download Center. Installing the add-in Download the file from the Microsoft Download Center and follow the instructions in the dialog boxes. Double-click the prjcomeu.exe program file on your hard disk to start the setup program. Follow the instructions on the screen to complete the installation. Running the add-in Start Microsoft Project 2002. A new toolbar, Euro Currency Converter , will be displayed in Microsoft Project after installation. If you do not see the new toolbar, on the Views menu, point to Toolbars and then click Euro Currency Converter Open the project in which you want to display multiple currencies. Switch to a sheet view, or if you are in a split view, select the top pane. Do one of the following: To add new cost fields in the desired currency using a wizard, on the Euro Currency Converter toolbar click Add New Currency Wizard and follow the instructions on the screen.

60. Euro Currency And Support 31 December 1998, IBM, Final solution for euro currency sign support on all marketed products for initial wave of emu countries. http://www-1.ibm.com/servers/eserver/iseries/whpapr/euro_currency.html

Home My account Select a country Midrange servers ... Literature Related links: Accessories and features IT infrastructure optimization iSeries Nation iSeries announcements ... White Papers Euro Support Randy R. Kuseske Document Index Abstract Introduction Timeline for Euro Activities Importance and impact of the European Monetary Union ... Euro related web sites Abstract euro Introduction The European Economic Community (EEC), established in 1957, consists 15 European countries. One of the goals of the EEC is for greater economic cooperation between the participating countries. The Maasstricht Treaty of 1992 outlined the establishment of the European Economic and Monetary Union (EMU). EEC countries can participate in the EMU by meeting a set of economic standards. The euro is the common unit of currency for the EMU. During the first three years, after introduction on January 1, 1999, both the euro currency and existing national currencies are being used, and a fixed exchange rate has been established. The goal is to completely replace the existing national currencies in 2002 at the latest. The 15 EEC countries are Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, Sweden, and the United Kingdom. Eleven of the EEC countries have joined the EMU in the initial wave. These 11 countries asked to participate and met a certain set of economic criteria to allow them to join. The 4 countries that did not join the EMU in the initial wave are Denmark, Greece, Sweden, and the United Kingdom.

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