Is the Eurodollar in use yet?

[snorkelman]

it is my understanding that the official change-over to the Eurodollar will not begin until January 2002.  Is that accurate?

Are any shops accepting it yet?  I know that many places have prices that reflect what it would cost if you payed in Euros, but do they actually accept them?  

['Guest']

The Euro (not Eurodollar) starts on 2002 Jan 1st. Suddenly. Just like that. So we are told.

[[e-mail]]

in most places, the national cash will be valid, but phased out, for a week or two.  but other countries will have euro as only cash from 1 January 2002.  <br>
But the euros are not available until 1 january.  some has been stolen though, you might could get some on the black market, if you really wanted  

[[e-mail]]

Hi

The Euro - and not Eurodollar - will be used in the nations taking part from January 1st 2002 and only from then the currency will be available and accepted. You can already make bank transfers and write checks in the countries taking part in Euros. The national currencies will still be used until 31st March 2002.

Countries taking parts are all members of the European Union and not any country in Europe. So e.g. Switzerland is not a member and cannot and will not take part. The UK has chosen like Denmark not to take part although they are members of the European Union.

Best info under: www.europe.eu.int website if the European Union

Hope that helps.

['Guest']

what nic said is right.  but sweden has also opted to stay out of the euro system, even though sweden is in eu.  

so, the parts of "western Europe" that are NOT in the euro: UK, Denmark & Sweden, plus Norway & Switzerland.  the last two not being part of EU, at all.  

UK & Denmark negotiated an opt-out when they joined EU.  Sweden has no such opt-out.  Sweden has a treaty obligation to be in the Euro, it's just used "creative interpretation" of the treaty to stay out.  

[that last paragraph is rather arcane.  hope I'm not boring y'all]

[nitsansh]

UK is going to have a referendum on whether to join the Euro sometimes next year, isn't it? Blair promised that in his election campaign.
Do Denmark and Sweden may change their mind about the Euro?

BTW: I wouldn't call Greece in western Europe...

[Cat]

The Euro will be introduced from the 1st of January, that's right. That doesn't mean the local currency isn't accepted anymore. In Holland, for example, you can pay with either the guilder or the Euro till january 28th. I don't know for other participating countries. By the way, the 'double pricing' (euro's and local currency) is for us, stupid europeans, so that we can get used to the value of products in Euro's (and we don't get ripped off by shopkeepers on the 1st of january). hope this helps.

['Guest']

although greece, geographically & religiously, isn't in western europe.  politically, greece is more a part of western europe than most of central europe.  greece is a founding member of NATO, a member of EU, and even part of "Euroland!"  you can't get more western europe than that!  

this is why i put western europe in quotes, in another post of this thread.

[nitsansh]

If Euro and Nato define "western Europe", where do you put Switzerland?

['Guest']

switzerland is geographically in the heart of western Europe, true.  my post from 21 Oct. at 13.00 lists Switzerland as a part of "western Europe" not using the Euro.  the post lists swizerland & norway as the two that are not in eu - while uk, denmark & sweden are the eu states not participating in the euro.  

but, aside from that, switzerland is also isolating itself in the midst of eu states.  it seems to me that the swiss are shooting themselves in the foot, economically, by doing so.  

sweden & austria are neutral countries, also.  they don't see a contradiction in joining eu!  

this is merely my position.  others don't need to agree with me.  that's what makes this (usa) a great country!  what's more, i don't have a dog in that fight.  i'm not a swiss citizen. I simply marvel at swiss intransigence.

['Guest']

btw, Eurodollar is an economics term.  it refers to us-dollar denominated holdings of europeans.  us stocks, bonds, even bank accounts owned by europeans falls into this.  

so, eurodollar is a legitamate term, but it isn't the name of the new european currency unit, formerly known as ECU.  

['Guest']

Per a November 25 article in The Guardian, a pro-Euro British paper, several big chain stores in UK will accept Euros from the 1st of the year.  

www.guardian.co.uk/EMU

But, this paper also has its own political agenda.  It'd be better to get confirmation before strolling into a UK shop on January 1 with nothing but a EU-50 bill to buy something you must have!  

['Guest']

Wow!  Another article in the Guardian sez Northern Ireland is seriously thinking of adopting the euro as a second legal  currency!  

[wanderworthy]

Howdoo! This is real late, folks. June the next year!

I got my pocket picked in Madrid. Puerta del Sol.
3 gypsy women flocked on me with little "news papers" to sell.
They pushed me by crowding me. I took off running through the crowd. I only had 5000 pesedas in my wallet anyway. Its no good to her.
The euro is coin of the realm today.
Next thing I know one of those broads taps on my shoulder handing me my wallet back. The pesedas were still there.
At my age, what's one more rejection?