The euro cash changeover, started on 1 January 2002, represents an important milestone in the European monetary integration process. It went far more smoothly than could have been expected and the national banknotes were largely withdrawn well before 1 March, the date on which the last remaining legacy currencies of the euro ceased to be legal tender in any of the euro area countries. I should like to express my sincere gratitude to all citizens of the euro area, who accepted the new euro cash with enthusiasm, and to the financial and economic agents that contributed to making the cash changeover a success. After three years of existence, the euro – with the introduction of the banknotes and coins – finally became a tangible reality for more than 300 million euro area citizens. [...]
