Establishing public confidence in the euro amongst the citizens of Europe is the greatest challenge for EU leaders. First there is the citizens' lack of awareness of the technical aspects of the introduction of the euro.
Second, it would not be surprising if citizens and consumers were confused by the entire EMU debate, given the widely diverging and contradictory views held by economists, business people and politicians about the desirability of a single currency of the type envisaged under the Treaty.
Thirdly, the process has not been helped in the eyes of citizens by the fluctuating fortunes of the process leading to EMU, which has added to the uncertainty surrounding the introduction of the single currency. The uncertainty over who will and who will not be in the first wave of participating member states has also hampered the process.
The varying degrees of support for the single currency indicate that fears and concerns over the introduction of the euro vary between member states. In these circumstances national and regional authorities are best suited to respond to the concerns of their citizens and consumers. Cultural, linguistic and historical differences between member states also mean that national governments, rather than the Commission, should play the leading role in information campaigns to promote the euro, in which Britain has now agreed to participate.
MEPs have also taken up consumer concerns, insisting on proper safeguards to ensure that shoppers are not cheated when prices are converted from national currencies, nor saddled with unacceptable conversion costs with financial middlemen engaging in profiteering.
This month, MEPs called on the Commission to put forward proposals designed to ensure that national bank notes and coins are converted to euros free of charge for users.