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On January 1, 2002, the people of twelve countries of the EU will get a new common currency in their wallets, the  uro. By the way, an Austrian, Mr. Robert Kalina, designed the colorful bills - see example below. The talented graphic designer, an employee of the Austrian National Bank, won a Europe-wide competition that had many participants. I will concentrate on the entertaining side of this change. For more on the political side and how it all started, please visit this uro info site and also the EUR-Lex site which is presented in all 11 languages. I can't wait to get to Austria again to pay with the uro! Luckily, I don't really have a choice: it's my mother's 75th birthday next year, so we'll be there automatically. Now, first of all, the practical value: you will be able to pay with the uro in 12 countries (Austria, Germany, The Netherlands, Belgium, Spain, Portugal, Greece, Finland, Ireland, Luxembourg, France, and Italy). No more dealing with exchanging for Peseta, Lira, or Franc, and losing a lot of money in fees. It becomes much easier to compare prices as well, of course. All you have to deal with is different sales taxes between countries, which is comparable with the situation in the USA. Now for the real fun part: the partially multi-colored coins (1, 2, 5, 10, 20, 50 cent, 1uro, 2 uro) will look the same on the front; but every country has its own designs on the back (see example above). It's a little similar to the fifty quarter program in the USA, but the variances between the designs are much bigger, just because of many mints involved. And there are ethnic differences, and, of course, inscriptions in many languages! The bills (5, 10, 20, 50, 100, 200, 500 uro) are the same for all countries, but are very beautiful and have many security features.
 So how are the people in all those countries prepared for the change? For the past 2½ years, all bank commerce in Europe has been done in uros. Savings account balances were shown in local currency AND uro. Same practices were followed for window shoppers. All this was possible because of fixed exchange rates that were introduced in 1999. Those rates stay the same for each country through the transition period and beyond. Because for the first two months of 2002 you can pay with local currency OR the uro. After that you can still exchange your old money for the same fixed exchange rate. Makes sense? It's a fun little game: you just have to know the rules. And to avoid total confusion: exchange rates between the uro and currencies of countries outside the big 12, like USA, Russia, or China, are still fluctuating as always. And that's where the fun ends: the uro hasn't proven to be very stable so far. But all that will change once people can actually spend it!
Bottom line: bring on the uro! Besides the hopes of a more competitive economic environment that kind of change will bring lots of fun. One tip for the wise traveler: make a budget in uro before your trip. It'll give you a little better control over your vacation finances. And coin collectors beware: you might get addicted chasing your favorite designs!
Special Invitation: Do you like the uro? Will you travel to Europe in 2002? Please come and smell the Vienna coffee in our Konzerthaus Café where we editors of Vienna Online hang out every day! On this message board you can voice your opinions and concerns. Don't hold back. Let us know everything. After all, you, the reader, are the boss. What would we do without you? Join in, or just come for the pastry!
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