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As of this writing, the common European currency is a reality; beginning 1999 with solid trading, and fostering a sense of excitement throughout the business world, the euro is now a fact of life for all who transact business in or with companies based in any of the 11 countries of what is being referred to as "Euroland." What the weeks and months that follow will bring is uncertain, but the necessity is clear for those of our readers who deal with international issues-a steadily growing number-to familiarize themselves with the ramifications of the newly united economic bloc.
Experience Will Pay
Most experts predict that the advent of the euro will be an advantage-for the time being at least-for American companies, which are already adept at marketing and selling their products across large markets. As the Wall Street Journal put it, the euro "will do a lot to make Europe more like the United States." The knocking down of friction-causing barriers between...