Brussels, 01/02/2001 (Agence Europe) - Pedro Solbes, Commissioner responsible for economic and monetary affairs, considers the changeover from national currencies to single currency will be "an unprecedented logistical challenge". On 1 January 2002, 15 million notes and 15 million coins will be distributed to over 300 million people in twelve different countries. During the Euroclear Euro Grant ceremony, emphasis was placed on the state of progress of preparation by the economic actors for transition to the euro, the first effects of the Commission recommendation for facilitating this changeover, and the practical problems still to be resolved. With less than one year to go before the introduction of the euro, the public authorities are actively making preparations, and eleven countries have already published their national plan for changeover to the single currency. The public at large seems to be increasingly better informed, but, Pedro Solbes says, far more information will have to be made available to accustom the consumer to the new scale of values. Large firms are generally ready although a Commission survey indicates that one small firm out of three believes it is too soon to make preparations for the changeover and that a majority of them have not yet assessed to what extent the change will affect their business. Pedro Solbes insisted that they should begin to make preparations as soon as possible. He specifies that adjustments could take several months to a year. Many practical problems have still to be resolved, mainly during the dual circulation period. Banks, that should assure storage of notes and coins in euros and the former national currency, could also be faced with a problem of space … and weight in the case of coins. "In the biggest branches floors may not be able to stand the weight", says Commissioner Solbes. The banks may even have to use private customers' vaults. In order to facilitate the management of liquidity, calculators must be distributed mainly for payments that combine the euro and national currency. Also, there will be extra waiting time because of the added complexity of payments. Last October, the Commission had adopted a recommendation on measures for encouraging economic operators to prepare for transition to the euro. It considers that, today, these main lines are having an effect. For example: - the early changeover to the euro during the third quarter of 2001 for accounts and certain payment means in a large number of countries (France, Belgium, Luxembourg, Spain, Germany, Italy and Greece).