Slovenians Celebrate Euro's Debut With Fireworks, Trips to Bank

[Joanne98]

Slovenians Celebrate Euro's Debut With Fireworks, Trips to Bank

By Boris Cerni

Jan. 1 (Bloomberg) -- Slovenians were able to pay for their morning bread rolls and coffee with euros today after the former Communist country switched to Europe's single currency.

``The initial indication is that everything went well in Slovenia, with people being able to withdraw their first euro cash from the banks' Automated Teller Machines,'' said a statement e-mailed today from the European Commission.

Euro coins and banknotes became legal tender at midnight as fireworks exploded over the capital Ljubljana and citizens lined up for their first euros at cash machines. A third of ATMs were operating at midnight, with the rest working again by 6 a.m. after a three-hour shutdown to adapt them to the changes.

The first real test will come on Wednesday, Jan. 3, when bank branches and shops open again after national holidays, although the tolar will continue to be legal tender alongside the euro until Jan. 14.

``This is something special for Slovenia,'' said Brane Ban, a 58-years old information technology specialist as he lined up at a cash machine minutes after midnight. ``I was actually very happy with the tolar, since it was a pretty stable currency, although I am sure we will trust the euro the same as it's the currency that more than 300 million people use now.''

Slovenia is the first of the 10 European Union members that joined in May 2004 to adopt Europe's common currency, switching at an exchange rate of 239.60 tolars per euro. Being the first is ``testimony to the stability-oriented policies pursued by the Government,'' said the European Commission's statement.

http://www.bloomberg.com/apps/news?pid=20601085&sid=aNI2eW9SGMoA&refer=europe

[dave_p]

1. Afraid of fireworks

So Slovenia gets to assume the responsibilities of Euro membership while Britain clings desperately to what's left of sterling - and there'll be even less of that when the dollar tumbles. Slovenia's one of the most westernized of the EU's 2004 intake (along with the Czech Republic and Estonia) and should cope well. Brits will continue to bumble along, terrified of weakening the "special relationship" and committing to the European enterprise they pretended to sign up to 34 years ago - but what can you expect of the country that told its citizens to stay at home and watch the millennium fireworks on TV?