Statistical stew Economic statistics is likely to be distorted by the demand for euros from the black market, along with equally unpredictable demand for the currency from outside the eurozone, where in some areas the euro could replace the dollar as the favoured currency. Calculating change will be tricky and slow. Consequently, it will be almost impossible for politicians and central bankers to argue that the project has been successful until a long time after the notes and coins have been introduced. This seems to make the public perception of the enterprise more important than the actual impact. And in a sense, the two are linked.
Nothing can bolster the new currency the way confidence can.
So one of the major challenges for the Commission is to intensify the information campaign, says Mr Gerassimos.