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 Using the euro - competing in Europe
  

Legal

 Will existing contracts be affected? From 1 January 2002 contracts extending beyond that date should refer to euro rather than legacy euro area currencies (the French franc, the Italian lira and others).
Is the euro a legal currency in the UK? No, although many businesses have chosen to deal in it as a foreign currency and some retailers will accept payments in euro.
When do the legacy currencies cease to be legal tender?



Country End date of legal tender
of legacy currency		 1 euro =
Austria 28 February 2002 13.7603 schillings
Belgium 28 February 2002 40.3399 francs
Finland 28 February 2002 5.94573 markka
France 17 February 2002 6.55957 francs
Germany 31 December 2001 1.95583 marks
Greece 28 February 2002 340.750 drachmas
Ireland 9 February 2002 0.787564 punts
Italy 28 February 2002 1936.27 lire
Luxembourg 28 February 2002 40.3399 francs
Netherlands 28 February 2002 2.20371 guilders
Portugal 28 February 2002 200.482 escudos
Spain 28 February 2002 166.386 pesetas

 

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