BRUSSELS: European Union moves to sponsor the changover to the
single currency will lead to a windfall for continental PR agencies, as
countries which have signed up to the euro prepare campaigns to mark the
introduction of notes and coins in 2002.
Since 1996, the European Commission has spent more than pounds 70
million on information campaigns for the single currency and will
provide a further pounds 20 million in 2000. The commissioner for
economic and monetary affairs, Pedro Solbes, last week issued a request
to the European Parliament and Council of Ministers, for the funding to
be increased over the next two years.
Under commission proposals, two-thirds of the money would be given
directly to member states - as it is now, as long as they provide
matching funds - while the rest would be used by the commission to pay
for campaigns across the EU.
Brussels last week released its campaign strategy for the introduction
of the euro, focusing on informing small and medium-sized companies and
the public of the steps needed for the cash changeover to go
The campaign aims to ensure that all companies realise they cannot
continue using old national currencies after the current transitional
period ends in 2002.
Companies must set a date to be ready to trade in euros, and change
their internal accounts to euros.