November 1997
Financial Executive;Nov/Dec97, Vol. 13 Issue 6, p28
Academic Journal
The article discusses implications for firms of the European Monetary Union's (EMU's) scheduled adoption of the euro on January 1, 1999. Currency spreads resulting from the transfer of liquidity from one currency to another will be eliminated, and the need to hedge currency exposure will be reduced. Clearing payments and settlements will not proceed as smoothly as in the U.S., although European authorities are developing a transfer system for high-value payments that will also serve as a real-time gross settlement system. During the transition period to the euro, banks will continue to accept EMU currencies. INSETS: Siemens' Switch to the Euro.;The Conversion Timeline..


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