Prozac -- Road Rage, Children killing Children? Linked?

[Moridin]

Originally posted by Kaz: I believe it is now a 'currency' although nobody uses it yet. It has a value (which has been dropping the last year, from more than 1$ to 0.86$ I think), the currencies which are going to be replaced by the Euro - for instance DM, Lire, Francs etc. are 'tied' to it. Clear? I'm not so sure about this though.

Kaz--This is going to be your currency and you are not clear on the operation of it? This is not attacking you, but have they not taught anything about it in school or in public forums or anything?

The Euro will replace the currency of 11 nations that have choose to join the single currency union: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Spain and Portugal.

*I believe Greece will join fully by 2002

In January 2002 countries will start to replace their national currencies with the Euro notes and coins. From Jan2002 to Jun2002 both the Euro notes and coins and the national currencies will be recognized legal tender. On 1Jul2002 all national currencies will be totally phased out and only Euro notes and coins will be accepted as legal tender.

The Euro will be administered by the European Central Bank, which will set policies, interest rates, etc...concerning the Euro. The European Central Bank is much like the US Federal Reserve and Germany's Bundesbank, in that it is independent of political influence

Currently (and since 1Jan1999) all 11 countries of the 'Eurozone' have had their currencies pegged to the Euro. The Euro began trading in international markets as a legal currency for transactions between nations and banks. The price of the Euro on the International Market is determined just like any other currency (i.e. through exchange rate calculations that are too detailed to post here). While it is true that the Euro is 'down' in relation to other national currencies (the dollar, pound...) many analystst believe this is due to the uncertainty that still remains before it goes into full effect. I expect the Euro to gain a lot of strength after the 1Jul2002 roll-out of notes and coins.

Sorry to take this off-topic from the original thread! Hope that clears somethings up



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