The operation, conducted swiftly and smoothly, and warmly welcomed by the public, has gone remarkably well. The success is all the more remarkable as Greece effectively had two years less than the other euro area countries to prepare for the physical introduction of the euro, since it became a member of the euro area only from the beginning of 2001.
While the cash changeover represented the concluding act of the move to the single currency, many of the benefits of the euro materialized even before joining EMU. The successful cash changeover, which marks a further move towards successful integration with EU partner countries, will reinforce these positive effects.