EU reports no serious changeover hitches

The European Commission said today the changeover to the euro appeared to be going smoothly so far and citizens of the 12 euro…

The European Commission said today the changeover to the euro appeared to be going smoothly so far and citizens of the 12 euro zone countries were showing enthusiasm and curiosity about their new currency.

"It seems that all the reports are positive," the Commission's economics spokesman Mr Gerassimos Thomas said. "Nothing much is happening. No news is good news."

Even threats of strikes at banks in France and Italy when business resumes tomorrow after the New Year holiday have failed to dampen confidence that the change would go smoothly.

Customers queued at cash machines and bank branches, opened especially for the occasion, to get their crisp new notes, first distributed to the public after the switchover at midnight.

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Difficulties appeared minor - chewing gum clogged ATMs in Italy, for example - while in Germany, some customers said they were just looking to swap marks for euros under the mattress.

There were big queues at cash machines but it was very jolly, with champagne, a Dutch central bank spokeswoman said.

Interpay, which handles interbank transactions in the Netherlands, reported more than 300,000 ATM transactions across the Netherlands in the first six hours of 2002.

In Germany, the euro-zone's largest economy, the currency introduction proceeded with trademark precision.

France was perhaps the country most plagued with euro problems as trade union strikes and threats of more stoppages put a smooth introduction in jeopardy.

But banks and post offices voiced confidence today that nationwide strikes called over pay and security grievances for January 2nd would not disrupt the euro's first business day.