What lessons can be learnt about cash changeover from the UK experience of changing to decimal currency in 1971?
Mainly, that close and long co-operation is essential between banks, shops, and consumers. It coincided with a period of inflation which, together with the inevitable rounding up of small item prices, has left an indelible impression in the public mind of loss of value with any change in legal tender currency. The logistics of the changeover are described in the presentation by Malcom Levitt of Barclay’s PLC to the EFMA conference “2002 the euro in circulation” in December 1999. www.sysmod.com/UK-decimalisation.
Related Questions
- What lessons can be learnt about cash changeover from the UK experience of changing to decimal currency in 1971?
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