Euro Impact on IT

Although the changeover to Euros is primarily a Finance issue, there is a requirement to have IT involvement during every stage of the Euro compliance project.

It is ultimately the IT department's responsibility to ensure that

  • the project runs smoothly,

  • meets the deadlines assigned

  • remains within budget.

  • The application structure will determine the level of IT involvement required. For complex applications where calculated values and field relationships need to be defined, there will be a requirement for more IT involvement than in an application where all financial fields are independent. After the conversion has completed, the maintenance of the application is retained by the IT department.

    Critical Phase Points

    Jan 1st 1999

    • Introduction of the Euro and the start of the 3 year transition period for all 11 Member States to be represented in Euros.

    Dec 31st 2001

    • End of Transition Period. All database information in NCU to be expressed as Euros. NCUs no longer valid for transactions.

    July 31st 2001

    • All NCU notes and coinage to be removed from circulation.

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