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Article: All in an [epsilon]-day's work.(preparing for Euro currency)
- Article from:
- The Banker
- Article date:
- May 1, 2001
- Author:
CopyrightCOPYRIGHT 2001 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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As banks and cash-in-transit companies prepare for [epsilon]-day, Parveen Bansal queries whether the January 1, 2002 transition date is the wisest of choices
The dawn of January 1, 2002 will see the rise of the euro as the currency in hand in 12 euro-zone countries, starting at midnight, ATMs will begin issuing euro notes in place of national currencies. But, for this to happen, nearly 200,000 ATMs will need to be modified to enable them to be the principal means of introducing the notes to the public. And 10 billion of the 14.5bn notes being produced need to go into circulation by January 2002.
The European union decided that January 1, 2002 will be ...