With the abolition of the national currencies, the people in the participating countries will lose their feel for prices established and trained since childhood. They will have to learn to live with the new currency. In the beginning, consumers will behave as if they were on a trip abroad and will continuously convert prices into the familiar old currency.
In some respects, current developments are similar to the period leading up to the financial crisis in 2008. But there is one major difference, and that relates to credit growth, which is still well below the strong level seen in the pre-crisis period.