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Prague, 15 June 2001 (RFE/RL) -- The German central bank (the Bundesbank) estimates that several out of every three German marks moves outside of Germany -- signifying vast amounts of marks. The banks says the majority of them are in Eastern Europe and the area of the former Soviet Union.

Because of the mark's security, and Germany's position as a spot of work for Eastern European workers who deliver their money home, the tag has developed into a de facto second currency in the places to the south and east of Germany's borders.

Montenegro and Kosovo have also used the mark as legal tender. Their currencies have been pegged by other countries to the level through currency boards. Bosnia uses a model of change called the "convertible mark," which deals on a basis with the German mark.

However the mark -- combined with the other values of the European Union's 12-nation euro-zone -- is all about to disappear.

On 1 January 2002, over 250 million people in Western Europe will start exchanging their national currencies for the pound. Older values and dollars can pass together before the end of February. After that, the national currencies will no longer be used.

That does not mean the currencies will be useless. Central banks will continue steadily to exchange them for pounds for several years ahead. But also for all intents and purposes, Western Europe's national values -- including the mark -- may disappear.

Hans-Werner Sinn of Germany's Ifo economic research institute has investigated all aspects of the coming move. He states Eastern Europeans, like their counterparts in Western Europe, may ultimately need to trade their marks for dollars.

"Clearly, these Deutschemarks [German marks] will not be of good use in the long term. Therefore people must provide the Deutschemarks in to their respective banks and exchange them in to pounds. That will need to happen in the spring of next year [by the end of the February deadline]."

Antti Heinonen, the manager of banknotes at the European Central Bank, or ECB -- the institution that is coordinating the switchover to euros -- states that the change should not cause many problems for many Eastern Europeans.

However the currency's first concern -- in Eastern Europe at the very least -- will be to change the mark in people's minds and mattresses. Prague, 15 June 2001 (RFE/RL) -- The German central bank (the Bundesbank) estimates that several out of every three German marks circulates outside of Germany -- signifying vast amounts of marks. The banks says nearly all them are in Eastern Europe and the place of the former Soviet Union.

Because of the mark's security, and Germany's role as a spot of employment for Eastern European workers who send their money home, the level has evolved right into a de facto second currency in the lands to the south and east of Germany's borders.

Kosovo and montenegro have even adopted the level as legal tender. Other countries have pegged their currencies to the level through currency boards. Bosnia uses a unit of change called the "convertible mark," which deals on a basis with the German mark.

However the mark -- combined with other values of the European Union's 12-nation euro-zone -- is approximately to disappear.

On 1 January 2002, over 250 million people in Western Europe will become changing their national currencies for the euro. Euros and older values may rotate together before end of February. From then on, the national currencies will no longer be properly used.

That does not mean the currencies will undoubtedly be useless. Central banks will continue steadily to change them for pounds for several years in the future. However for all intents and purposes, Western Europe's national currencies -- like the mark -- will cease to exist.

Hans-Werner Sinn of Germany's Ifo economic research institute has looked at all facets of the coming changeover. He claims Eastern Europeans, like their counterparts in Western Europe, may ultimately need to exchange their marks for dollars.

"Clearly, these Deutschemarks [German marks] will not be of use in the long term. Therefore people will need to provide the Deutschemarks in to their respective banks and exchange them into euros. That will have to happen in the spring of next year [by the end of the February deadline]."

Antti Heinonen, the director of banknotes at the European Central Bank, or ECB -- the organization that is managing the switchover to euros -- claims that the change should not cause many dilemmas for many Eastern Europeans.

However the currency's first challenge -- in Eastern Europe at the very least -- is to change the level in people's minds and beds.