Swiss urged to prepare for Euro launch
With just six months to go before the launch of the single European currency, or Euro, the Swiss are being advised to get rid of their remaining stocks of European Union currencies.
The Swiss Bankers Association is recommending that people either spend their EU currency reserves or convert them into Swiss francs.
Twelve of the 15 EU countries, including Switzerland’s neighbours France and Germany, will adopt the Euro as of January 3 2002, making their own currencies redundant from the end of this year.
In Switzerland, the franc will continue to be the only legal tender, but border regions and the tourist industry are expected to accept the Euro.
The Bankers Association is also warning Swiss planning to visit Euroland countries at the beginning of January to make payments with credit cards. It says there is a high risk that counterfeit Euros will be in circulation.
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