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By morning, all over Europe, consumers offered their old, used, tattered and torn markkas, drachmas and liras for their cigarettes and train tickets.
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He performs on the rebab, vielle and lira in a presentation of dances, lamentos and stampitte.
Returning to the old marks, francs and lire would be more painful than trying to fix the euro.
As old contracts in marks, francs and lire expire and are replaced by euro contracts, individuals and enterprises are running down their old currency balances.
NOW that the age of the euro has dawned, you may be wondering what to do with those francs, marks and lire sitting in a drawer somewhere.
Given the differential between dollar loans at 6.5 percent and lira credit costing 11.5 percent, it was no surprise that the Kiler Group and others chose to borrow in dollars.
Investors also fear "convertibility risk" — or the possibility that the euro will break up, and they will get repaid in devalued pesetas and lire.
The planned single currency, the euro, should scythe through Europe's tangle of D-mark, French franc and lira interest-rate futures contracts.
Counterfeit money surfaces regularly in Europe, and the police have seen a surge in cases of phony marks and lire, perhaps from counterfeiters trying to unload their reserves.
It has risen especially high against continental European currencies the Swedish krona and lira have each lost 9% of their value in dollars in the past three months.
Instead of calling for return to individual national currencies, to drachmas and lire and Austrian schillings, he has suggested that each country could have its own euro, a purely nominal difference.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com