Cyprus, Latvia, Lithuania, Slovenia and Slovakia all favour a so-called “big bang” approach to joining the euro, meaning that they will introduce euro notes and coins at the same time they join the single currency system.

By contrast, the 12 ‘old’ member States that joined the euro system in 1999, waited three years before introducing notes and coins. Greece joined the system later and only spent 12 months preparing the changeover from Drachma to euro.

New member States will have their work cut out to prepare in time. Most of the old member States took six years to prepare, whereas some of the new member States want to join the euro as early as 2007.

“Preparation... should not be underestimated or delayed if we want to ensure a wide public acceptance and a smooth transition,” said Economics and Monetary Affairs Commissioner Joaquin Almunia.

The “big bang” method of adopting the euro is easier to achieve given that most citizens in the new member States are familiar with the euro and are likely to have used the currency on holiday in the euro zone or even in their home countries.

Many of the countries involved also have had recent experience of changing currency regimes after regaining independence.

On the other hand, certain particularities of new member States will make the changeover harder. There are generally fewer cash machines in new member States, making it harder to distribute new notes.

In addition, people tend to conduct transactions in cash, rather than using cards, which increases the relative importance of money.

Although governments seem keen to speed ahead with the process, a Commission survey has shown that citizens take a more mixed view.

Forty per cent of people in the new member States believe that the introduction of the euro will be “positive” for them, while a higher percentage (45 per cent) think it will be negative.

And many are concerned about the impact on prices after anecdotal evidence of large price rises in the countries that adopted the euro in 2002.

All 10 member States are obliged by the terms of their accession treaty to join the single currency, although less than half of the citizens know this, according to the survey.

Before joining, they must pass a series of economic hurdles, testing the stability of their currency and the state of their economies.

But the new member States have very different target dates for joining. Estonia hopes to join in mid 2006, followed in January 2007 by Cyprus, Lithuania and Slovenia.

Latvia, Malta and Slovakia aim to join in around 2008, Poland and the Czech Republic in 2009 and finally Hungary in 2010.

Sweden, Denmark and the UK have decided against joining the euro.

Even with the “big bang” approach, there will be a short period in which both “old currencies” and the euro will circulate.

Lithuania is the Delaware of Europe

The US state of Delaware uses the name “The First State” because it was the first of the original 13 states to ratify the US Constitution and today, Lithuania earned itself the possible title of “First Country” in years to come as it became the first country to ratify the European Constitution. Unlike the battles in other countries, this was a comparatively easy, and perhaps even popular, decision:

The Lithuanian Parliament approved the treaty by 84 votes to four, with three abstentions.

The opposition and some civic groups said the vote was purely political and was approved without any significant national debate.

Thursday was the final day of the Parliament’s term, raising suspicion that current MPs wanted to take credit for the ratification before leaving office.

Former French President Giscard d’Estaing, who oversaw the drafting of the Constitution, sent a message of congratulations to Lithuania.

“This is a brave and a bold step… Thank you, men and women of Lithuania,” he said in a letter read out in Parliament.

European Commission spokesman Reijo Kemppinen said: “We congratulate them wholeheartedly for that. It is a very positive development indeed.”

“Not only was this ratification more like the rubber-stamping of Soviet Union days but the Lithuanian Parliament has ratified something that few, if any, of the 84 parliamentarians voting for it can have read! Wonderful thing, democracy!” said Christina Speight (Britain).