All Banks Must Face Up To Euro Cash Hangover, Says Misys

NEWS

LONDON -- Banks both inside and outside the eurozone urgently need to address the fact that bank accounts must be re-denominated from ‘legacy’ currencies into euros by December 31, 2002, according to UK-based banking software firm Misys.

Misys said in August that its own survey of banks found many were not ready for the changeover in January next year to euro notes and coins in the 12 European Union countries that have adopted the euro as a single currency.

Extensive staff training is needed,

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