The European Commission and the European Central Bank (ECB) have hailed the launch of euro notes and coins as an unqualified success.
A spokesman for the Economic Affairs Commissioner, Mr Pedro Solbes, said yesterday that there had been no reported problems with the introduction of the new currency. "It seems that all the reports are positive. Nothing much is happening. No news is good news," he said.
The ECB said it expected almost all cash machines in the 12 euro zone countries to have converted to euros by last night.
Two thieves stole 90,000 euro from a Spanish bank, but a Europol spokesman said that fears of widespread theft and fraud had proved groundless.
"From the law enforcement perspective the euro is one of the best protected currencies. It has had a smooth start," he said.
The Commission predicted that half of all transactions in the euro zone would be conducted in euros by the end of this week.
The euro was launched at midnight on Monday with a spectacular fireworks display in Brussels. Almost 20,000 people gathered at a monument near the EU headquarters to watch the spectacle.
In Frankfurt earlier on Monday, the ECB President, Mr Wim Duisenberg, predicted that most Europeans would get used to using euros within a few weeks. "People have to learn. they have to get used to the new money. In a few weeks' time, most people won't remember their old currencies," he said.
Mr Duisenberg presented awards to 24 schoolchildren from the 12 euro zone countries, including nine-year-old Imelda Hickey from Castledermot, Co Kildare, and 11-year-old Gerard Raftery from Tuam, Co Galway. The children were winners of a competition about the euro notes and coins.
Mr Duisenberg predicted that the introduction of the euro would add momentum to the drive towards European integration in other policy areas. "It will be a catalyst for further integration in other fields, such as defence and foreign policy," he said.
This theme was reflected by the EU Commission President, Mr Romano Prodi, who said it was "a special day, a great day for Europe."
Pointing to the Commission's view on how the EU should not develop, he called for "more common rules" for economic and budgetary policy.
The French President, Mr Jacques Chirac, hailed the euro's launch as a hugely significant event for Europeans. "The euro is a victory for Europe. After a century of being torn apart, of wars and tribulations, our continent is finally affirming its identity and power in peace, unity and stability," he said.
