The Euro

NPR's John Ydstie reports this weekend that 11 European Union countries will be ringing in the new year with a big "Euro" bang. On New Year's Eve, finance ministers will fix the rate at which the euro will trade. This will begin a race by banks and financial firms to get securities ready to be traded in euros for the first time when the market opens on January 4th. Some say the introduction of the euro could threaten the U.S. dollars' dominance as the reserve currency for the world's financial markets.

Copyright © 1998 NPR. For personal, noncommercial use only. See Terms of Use. For other uses, prior permission required.

Copyright © 1998 NPR. All rights reserved. No quotes from the materials contained herein may be used in any media without attribution to NPR. This transcript is provided for personal, noncommercial use only, pursuant to our Terms of Use. Any other use requires NPR's prior permission. Visit our permissions page for further information.

NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.



Please keep your community civil. All comments must follow the Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.