... the Euro is no longer considered a foreign currency. The businesses will start all the arrangements for the internal conversions, which involves all the electronic transactions and processing internal database. The banks and financial institutions, such as the building societies have two options. They may apply slow changes so that individuals may make transactions at the cashier's desk or write cheques / withdraw cash at the automated machines in both currencies Euro as well as Sterling. This gives to the individuals a longer period to get used to the new currency, public places to arrange facilities for visually impaired people and assist the elderly ones with the cash administration. France is a good example of these facilities and it shows that it may be more effective than a "big bang", i.e. overnight changeover approach. Countries like Italy, Austria and the Netherlands came across difficulties in the cash points and a ...

See this essay or coursework document in full right now