Luxembourg

This information will be updated periodically but it also includes some materials, for example the dual circulation periods, which are no longer relevant but have been retained for reference purposes. The date that this information was last updated is at the bottom of the page.

Luxembourg Government euro web site:
(Le Ministère des Finances du Grand-Duché de Luxembourg )
www.etat.lu/FI

Pricing

Banking

Business Preparations

General Public

Information Activities

Other Links and Sources

Pricing

Since the end of February 2002 prices are now largely shown only in Euro. During the cash changeover dual pricing was recommended and was widely implemented following a voluntary agreement concluded between Luxembourg Government (Ministry of Finance), business and consumers representative bodies.

Since January 2001 the Luxembourg Consumer Association has been carrying out the functions of a Euro Observatorie monitoring prices, and is available to mediate in the event of disputes.

Consumer Prices
The following table shows the annual percentage change on the same month in the previous year.

Banking

Banque Centrale du Luxembourg web sites:
http://www.bcl.lu/html/en/index.html (English)
www.bcl.lu/html/fr/index.html (French)

Business Preparations

The percentage of SMEs who had changed over to euro on 1 January 2002 for:

	accounting systems	99 per cent
	prices	100 per cent
	invoicing	100 per cent
	computer systems and IT	90 per cent

Overall SMEs considered that the changeover to the euro:

	had been easier or much easier than they planned	47 per cent
	proceeded as they planned	47 per cent
	had been more difficult than expected	4 per cent

9 per cent of SME's had encountered practical difficulties when changing over to the euro.

When converting prices from national currency to the euro the percentage of SMEs who had:

	converted prices some upwards and some downwards	14 per cent
	converted prices on a neutral basis	72 per cent
	converted prices upwards	4 per cent
	converted prices downwards	6 per cent

EB Eurobarometer Survey EB122

The Luxembourg Chamber of Commerce
www.cc.lu

General Public

	94 per cent felt that the introduction of the euro went well or fairly well.
	88 per cent felt that the changeover to the euro went without any difficulties or with some temporary difficulties for them personally and 88 per cent for everyone.
	57 per cent said that they found it easy to remember prices in euro, 63 per cent compare prices in euro and 89 per cent to understand bills in euro.
	70 per cent thought that dual pricing of goods was essential or fairly useful.
	For dual pricing in shops:

	10 per cent thought that prices when converted to euro had either not been rounded or had been rounded down.
	When asked which organisations had helped the most.
	42 per cent thought the media
	29 per cent thought shops and other retailers
	38 per cent thought the banks
	8 per cent thought consumer or other representative groups
	30 per cent thought family and friends

Information Activities

At the end of September 2001 the Ministry of Finance launched an intensive TV and radio communication campaign under the theme "new scale of values". In each spot euro prices are linked to different products. In mid November 2001 the Ministry will deliver to every household a newsletter containing general information and advice on conversion. The newsletter will be in German and French, and a Portuguese version will be available on request.

Additional communication efforts were directed to reach specific targets of the population including schools, civil servants, employees and vulnerable groups.

The Minister of National Education and minister in charge of the euro visited on 9 October a primary school in Luxembourg city and presented a changeover plan in the educational sector (containing posters, dummy notes and coins, and adaptations of school text books) which were made available to the press.

Notes supplying information about the state of preparation and the action of the Government and important dates in relation to the changeover have been attached to pay slips of all civil servants in September and October 2001.

In October 2001 the Office National du Tourisme (ONT) in collaboration with the Ministry of Finance published an edition of its marketing letter dedicated to the euro which is aimed at professionals in the tourism sector. It contained practical information about conversion and rounding rules, price stability, and the distribution and withdrawal of notes and coins.

Further regional seminars were organized during June for groups representing vulnerable groups, with the Ministry of the family and Social Solidarity commencing training sessions at the end of September where materials developed by the European Commission were distributed.

The Chambre du Travail together with the unions organised a euro day on 27 September where their communication plan was presented. The plan looks at training and information needs of employees. A special public brochure has been produced to cover the conversion of wages.

Other Links and Sources

European Commission:
www.europa.eu.int/index_en.htm (all EU languages for most documents)

European Central Bank:
www.ecb.int (All EU languages for most documents)

For information for travellers, including business travellers, click here to see the joint FCO/HMT/DTI Government leaflet "Euro notes and coins and how they will affect you" on this site.

Sources:

ECSR European Commission Second Report: 10 October 2001
Second report on the preparations for the introduction of euro notes and coins
EB Eurobarometer survey E121 January 2002
http://europa.eu.int/euro/html/dossiers/00716/00716-en.pdf
HICP. Harmonised Indices of Consumer Prices. Eurostat February 2002.
http://europa.eu.int/comm/eurostat/
EB Special Eurobarometer 171- May 2002 http://europa.eu.int/comm/public_opinion/archives/eb/ebs_171_tables_en.pdf