Frontloading consumers will largely reduce the cash stocks needed by retailers. It will facilitate the logistics for the distribution of euros, as massive amounts will have to be distributed within a very short period. Efficient communication will be needed to explain citizens that the euro will only be legal tender from 1 January. The frontloading is one of the key issues to be solved and it is urgent that Member States finalise their decision. In this respect, the next Ecofin Council should be an important step.
Considerable thought needs to be further devoted to the distribution of starter-kits.
The length of the dual circulation period As agreed during the Madrid European Council, the period of dual circulation of euros and national currencies is to last a maximum of six months. This period may be shortened by law in each Member State. It is expected that after 3 years of virtual existence of the euro, most consumers will be willing to use the euro right from 1 January 2002. They will probably want to get rid of NCUs in the most practical way. The changeover for consumers could last no more than 15 days, as citizens have in their pocket very small liquidity.