NATO helps Kosovo embrace the euro

ROGANE, Kosovo --Peacekeeping troops in Kosovo are taking on a new duty -- preparing the province for a new currency.

CNN - 12/31/01 - Soldiers laden with leaflets, calendars and other information are visiting some of the region's most remote areas to spread the word about the imminent arrival of the new European currency, the euro.

Kosovo -- which is still a province of Yugoslavia -- isn't part of the European Union, which is introducing the currency on Tuesday.

But since 1999 it has depended on the German mark -- which is being replaced with the euro. As a result, Kosovo has become the first place outside of the EU to officially adopt the euro.

American, British, French and German soldiers -- and others in the 39-nation peacekeeping force -- are pitching in to inform Kosovars about the new currency and how to change their money.

Twelve of the 15 EU countries are replacing their national currencies with the euro on Tuesday

After coming under U.N. and NATO control in June 1999, Kosovo's unstable Yugoslav dinar was replaced with the German mark to keep inflation in check.

The mark had been the major currency among most Kosovo residents even before that, so the changes in Germany are being mirrored in the province.

"It's different," Capt. Andrew Zacherl, 32, from Denver, told The Associated Press when asked about the idea of an American soldier "selling" the European currency in Kosovo.

Soldiers of the 9th Psychological Operations Battalion, from Fort Bragg, North Carolina, have been braving some of Europe's worst winter weather, taking euro pamphlets, euro calendars, wallet-size exchange rate cards and other paraphernalia linked to the currency changeover to Kosovars.

The euro operation has "long term U.S. benefits," Zacherl said. "If Europe has a stable economy, that means the economy in the States will be stable."

Peacekeepers have put up euro fact sheet posters, with euro-mark exchange rates and other information to remind people that the clock is ticking down on the Deutschmark. Radio messages and television spots with the same message are aired dozens of times a day.

Shaban Bajrami, a 28-year-old jewellery store owner in Rogane village, around 50 miles east of province's capital, Pristina, had kept his life savings buried in his garden for years. Now, he plans to open a bank account in euros.

"Finally I have the feeling that we are part of Europe," Bajrami said. "At least now we get to do business like they do."

Village teacher Gani Basha echoes the sentiment. "I'm excited," he said. "We are joining Europe."

Part of the euro campaign has focused on encouraging residents to deposit money long kept hidden at home. That has led to about 100,000 new bank accounts being opened in the last month alone, compared to 1,000 new accounts over all of the rest of 2001, says EU spokesman Mike Todd.