THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
SHIHAB RATTANSI, CNN ANCHOR: European Union countries are hoping the upcoming adoption of the euro will spur economic growth on the continent. In less than six months, 12 member countries of the EU will adopt the euro currency, but many European Parliament members are worried that not enough has been done to make the transaction as smooth as possible. EUTV's Jim Gibbons report from Strasbourg.
(BEGIN VIDEOTAPE)
JIM GIBBONS, EUTV CORRESPONDENT (voice-over): In his third annual report to (UNINTELLIGIBLE), Vim Dizenberg (ph) spoke of strong economic growth in the euro zone and how it has stimulated inflation repression, requiring six interest rate hikes during the year. In fact, though, he knew he was among friends. Most members believe the European Central Bank has done a pretty good job, although many would prefer more transparency. They would like to know the factors leading to a decision.
CHRISTA RANDZIO-PLATH, GERMAN MEMBER, EUROPEAN PARLIAMENT: We don't know all of it. The arguments in favor we know, but the arguments against the decision, which were discussed, we can't find out.
GIBBONS: But of more urgent concern, perhaps, for most people is the arrival of the new euro notes and coins on the 1st of January next year. The bankers refused a request by the European Parliament to make some available a few days in advance, and there are fears it could be chaos. Most MEPs would like the banks and the governments involved to follow Belgium's lead and delay the start of the January sales by a fortnight.
JULES MAATEN, DUTCH MEMBER, EUROPEAN PARLIAMENT: I think it makes complete sense to take decisions like that. There are many very practical measures that can be taken by the ECB, by national governments, by local governments and by consumers themselves that will make life easier.
GIBBONS: The financial markets are already working in euro. The arrival of the notes and coins won't make much difference to them, but the way in which the transition takes place may have a huge influence on public opinion within the three EU member states not making the switch: Denmark, Sweden and Britain. THERESE VILLIERS, BRITISH MEMBER, EUROPEAN PARLIAMENT: Certainly, I think if it is a chaotic transition, then that will harden the attitudes not only in the U.K., but in Sweden and Denmark as well against the introduction of the euro elsewhere.
GIBBONS: The main pressure is likely to fall on the banks and shops whose staff will find themselves handling two currencies at once until the changeover is complete. MEPs are worried that not enough is being done to prepare people.
RANDZIO-PLATH: I don't like at all that actually still 50 percent of the population think that they are not enough informed about the euro.
GIBBONS: These are the new units of currency that the people of Europe will have to get used to. They should certainly make foreign holidays and cross-border shopping trips easier.
(on camera): Changing all the various notes and coins that exist now into the euro is going to require an enormous mental effort on the part of the European public, and there will be some confusion. What the members here want is to minimize the chaos and make sure the changeover goes as smoothly as possible.
Jim Gibbons, EUTV, for the CNN WORLD REPORT, in Strasbourg.
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