Don’t let yourselves be confused by the fact that the old currencies, such as the Deutsche Mark or French franc, are still in circulation in the 11 euro countries. Euro banknotes and coins will not be launched until the year 2002 because of the immense logistical trouble it will cause.
Actually, in statutory and economic terms, the euro is already the sole currency in the eurozone; the old currencies are – as we say in the jargon – nothing but the “non-decimal denominations” of the euro. At this juncture, I have no wish to bore you unduly with figures.