Summary of Experts' Reports Compiled for the Euro Working Group/European Commission - DG XXIV on Psycho-sociological Aspects of the Changeover to the Euro
The studies and analyses commissioned focused more particularly on three requirements of the changeover to the euro: the building of confidence in the new currency (on account of the transfer of sovereignty, the disappearance and replacement of national currencies, fears associated with conversion, such as reduced income, price increases or the removal of or reduction in social advantages), the learning of a new monetary code (new scale of values and prices of goods and services, involving in most cases reduction by a complex figure, introduction in some cases of decimals and hundredths, increase in the number of coins and notes and the introduction of notes with much higher denominations), and the reconstruction of a price memory determining consumption trends, bearing in mind the importance, depending on the population category, of these requirements from many aspects (psychological, socio-economic, cultural, legal, etc.).
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