The euro: now is the time to plan
The full impact of single market potential will be felt with the introduction of the euro. The consequences for EU businesses, including those from countries outside the euro zone, are considerable because increasingly commercial and financial relationships within this market area will overlap. Those who do not quickly acquire experience in dealing with the single currency risk difficulties as do those who will be using the euro as a foreign currency.
Since our October edition preparation for the changeover is well under way in the banking sector. It now seems appropriate for the publication to turn the spotlight on other areas of the economy to see what measures are being taken there to introduce the euro. In this issue we sound out business and in upcoming numbers we will examine the state of play with financial markets and public administrations.
The articles of nine national industry federations published in these pages reveal how far they have gone down the changeover route. From the information offered it is quite clear that there is now widespread awareness of what is at stake. The federations are taking the necessary time to mobilise their members and to provide them with all essential data. One group, far from being the largest, has even launched its own internet website and hotline on the subject. Incidentally from the feedback we received we could not fail to note that after years of deploying tireless efforts training and informing The Association for the Monetary Union of Europe (AMUE) is reaping a harvest of positive results.
The exchange of information contained in these pages is intended as a contribution to the general effort with the hope that it will be useful to all. One person's ideas, experiences and discoveries may often inspire another. Indeed, those who are still hesitant need to hurry up and board the bandwagon, they need to catch up with those who have gone on ahead. Surely it is of no use to the European Community if some of its players become handicapped or even to fail just because they did not adapt in time to the single European currency.
From the editorial board.