You are here

Flanders welcomes the Euro

People and businesses in Flanders joined the massive switch to the banknotes and coins of the Euro early on New Year’s Day as the single European currency became a physical reality.

More than 300 million people in 12 countries are part of the largest monetary changeover in history, a move that is central to the European Union’s achievement of a Europe in which people, services, capital and goods move freely.

The Euro, which will rapidly replace the 12 national currencies involved, is seen as adding a range of cost benefits for businesses investing in Euro regions such as Flanders, already perceived as an attractive location for foreign companies. It also means that travelers between the 12 nations will no longer have to exchange one national currency for another, for example.

The introduction of the notes and coins follows the launch of the third stage of European Monetary Union three years ago, on January 1 1999, when the exchange rates of the participating currencies were irrevocably set, with the Euro later becoming a virtual currency.

Reported by
1 January 2002

More news about Flanders?

  • Regular updates
  • No spam

Interested in doing business in Flanders?

Let us help you!

  • We can introduce you to other companies, banks and regulators
  • We organize site visits to real estate locations
  • We assist with all legal aspects of setting up a business
  • We're an official government agency
  • Our services are completely free
  • We are a team of international experts

Receive our handbook to growing your business in Flanders

  • It's completely free.
  • Get an overview of all incentives relevant to your company.
  • Tax system explained in-depth.
  • Learn how to set up your business quickly.
  • Discover the benefits of Flanders (in addition to the chocolate).

In addition to the ebook, I agree to receive one or two follow-up emails