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12 European nations celebrate arrival of euro currency on New Year's Day

From the Arctic Circle to the fringes of Africa, from the Aegean Sea to the Atlantic Ocean, the euro became an everyday reality Jan. 1, giving 300 million people in 12 European countries a united currency.

Gleaming new euro coins and crisp bank notes became legal tender across much of the continent at the stroke of midnight on New Year's Day, as politicians predicted that the euro would usher in a new era of peace and prosperity.

The largest financial switchover in history, ringing down the curtain on some of the world's most venerable currencies, made a smooth start. Few glitches and grumbles marred the launch of Europe's most widely used money since the Roman Empire.

But European people must come to terms with the disappearance of their familiar old deutsche mark, franc or lira and get to grips with the euro.

"The euro is a victory for Europe. After a century of being torn apart, of wars and tribulations, our continent is finally affirming its identity and power in peace, unity and stability," French President Jacques Chirac said Jan. 1.

The arrival of the notes and coins in 12 of the European Union's 15 states marks the bloc's most ambitious project to date, giving Europeans proof that they share more than just an accident of geography with their neighbors.

In general, the appearance of the euro was greeted with excitement around Europe as people laid aside worries over often complicated conversions and queued up in the early hours of the morning to retrieve the new notes from cash dispensers.

Shukan ST: Jan. 11, 2002

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News 12 European nations celebrate arrival of euro currency on New Year's Day From the Arctic Circle to the fringes of Africa, from the Aegean Sea to the Atlantic Ocean, the euro became an everyday reality Jan. 1, giving 300 million people in 12 European countries a united currency. Gleaming new euro coins and crisp bank notes became legal tender across much of the continent at the stroke of midnight on New Year's Day, as politicians predicted that the euro would usher in a new era of peace and prosperity. The largest financial switchover in history, ringing down the curtain on some of the world's most venerable currencies, made a smooth start. Few glitches and grumbles marred the launch of Europe's most widely used money since the Roman Empire. But European people must come to terms with the disappearance of their familiar old deutsche mark, franc or lira and get to grips with the euro. "The euro is a victory for Europe. After a century of being torn apart, of wars and tribulations, our continent is finally affirming its identity and power in peace, unity and stability," French President Jacques Chirac said Jan. 1. The arrival of the notes and coins in 12 of the European Union's 15 states marks the bloc's most ambitious project to date, giving Europeans proof that they share more than just an accident of geography with their neighbors. In general, the appearance of the euro was greeted with excitement around Europe as people laid aside worries over often complicated conversions and queued up in the early hours of the morning to retrieve the new notes from cash dispensers. Shukan ST: Jan. 11, 2002 (C) All rights reserved