The old adage that “money makes the world go round” may never be more apt than it is on January 1, 2002. The introduction of Euro bank notes and coins on this date will be an operation of unprecedented enormity, affecting the currency regimes of 12 European countries. But unless the parties involved in the Euro cash supply chain, and especially consumers, are well prepared and informed, matters could be quite complicated for a while. Intervention by army and police forces to secure the new currency and ensure an orderly introduction can’t be ruled out. Professors Arnd Huchzermeier and Ludo Van der Heyden study the introduction of the new European currency, especially from a retailer perspective, and make some general comments on the operation of unprecendented magnitude.
Author: Ludo Van der Heyden
Source: INSEAD Knowledge
Subjects: Economics, International – Europe
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