i am pleased to say that with regard to the technical aspects of the changeover, cyprus is on the right track. numerous tasks involving many different areas of expertise have either been completed or are being completed : the selection of the designs for cypriot euro coins, the printing and distribution of notes, and the preparation and translation of comprehensive campaign material to make the people of cyprus familiar with the visual appearance and security features of the euro banknotes and coins, as well as with the modalities of the cash changeover. unquestionably, a well - informed public is crucial for the successful introduction of the new currency. drawing on the positive experience of previous changeovers, such as that of slovenia at the beginning of this year, various communication channels are being used. there are ten different publications in greek, turkish and english ; 350, 000 information leaflets are currently being distributed to all cypriot households ; media seminars have been organised. in all of this, we have paid particular attention to vulnerable groups. i personally was particularly impressed by the “ talking cards ”. following consultations with associations for the blind, we developed an audio file which allows visually impaired people to receive the relevant information on the cash changeover and the euro. the information campaign has been very intensive, not only in terms of financial and human resources, but also in terms of coordination efforts among all relevant parties, including the central bank of cyprus, the ecb, the cypriot ministry of finance and the european commission. after the changeover, we will evaluate the campaign, and i expect that the countries seeking to join the euro area at a later stage will be keen to learn from cyprus ’ experience. in the remainder of this year, some final preparations are still necessary. the delivery of coins, minted by the bank of finland, and the delivery of banknotes, provided by the bank of greece from the eurosystem stock, has started. and in a week ’ s time starter kits for the public will be distributed. the dual circulation of the cyprus pound and the euro will last one month. afterwards the euro will be the sole legal tender in cyprus, but cyprus pound coins can be exchanged for two more years and banknotes for ten more years at the central bank of cyprus. finally, let me reassure you that we are taking the concerns of the people of cyprus very seriously as regards possible unwarranted price increases in the context of the euro changeover. we have to monitor the situation carefully to ensure that prices are converted

mr. greenspan looks at some important issues arising from new information and communications technologies remarks by the chairman of the board of governors of the us federal reserve system, mr. alan greenspan, at the conference on privacy in the information age held in salt lake city on 7 / 3 / 97. it is a pleasure to be with you this afternoon as you discuss some of the most fundamental issues raised by our new information and communications technologies. the topic senator bennett has asked us all to address is privacy in the information age. the central dilemma in these discussions almost always involves fundamental choices about how to strike prudent balances among the needs of individuals for privacy in their financial and commercial transactions, as well as their personal communications ; the needs of commerce to bring us new products and new means to communicate ; and the needs of the authorities to provide for the effective administration of government and to ensure the public safety. these are not easy choices. i think we all need to have a healthy respect for all sides of the debate. even further, we need to be aware that the balances we strike in one era may need to be reexamined as technology and circumstances change. the dictionary defines privacy as the state of being free from unsanctioned intrusion. this concept, to which americans feel a very deep - seated attachment, is reflected in the fourth amendment to the constitution, which assures “ the right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures.... ” for the government to intrude on one ’ s privacy is in a very fundamental sense a deprivation of freedom. it is one of those deeply sensed issues that transcends people ’ s constitutional or legal views and delves into the realm of one ’ s sense of person. this is why the perceived threat to privacy from burgeoning technological advance, coupled with an increasing sense of inefficacy in the face of sophisticated new technologies, has created such a stir. the fears of invasion of privacy, as a consequence of inexorable forces seemingly out of the control of the average american, has risen to a major public policy issue. a half century ago a number of writers expressed concern at a perceived ever widening intrusion of government into the lives of individuals. they feared the ultimate collectivization of our society where individualism would be significantly diminished or expunged, and the emergence of “ big brother ” would come to define and dominate