Part B

Text 1

TheLaunching of the Euro

Asfirework displays ushered in the euro from Paris to Athens, Rome to Madrid,curiosity drove Europeans to cash machines at midnight December 31, 2001 forthe first look at the brightly colored new notes. More than 300 millionEuropeans began changing their old currencies for the euro in the mostambitious currency changeover in history. To prepare for the large demand,banks across the euro zone disabled 200,000 ATMs in the afternoon, changingsoftware and loading them with euro notes. Altogether 15 billion banknotes and52 billion coins -- worth 646 billion euros, or $568 billion -- have beenproduced for the switchover.

Knowinghow people can be attached to their national currencies, architects of the euroexpressed hope that it will help realize dreams of a united Europe.

Across thecontinent, officials welcomed the euro as a sign of economic stability -- a newsymbol to bind 12 nations on a continent at the heart of two world wars.

"Wewill become a greater Europe with the euro," EU Commission President saidin Vienna, shortly after he used the new currency to buy flowers for his wife."We shall become stronger, wealthier."

His viewwas shared by Helmut Kohl, the former German chancellor, who with the lateFrench leader Francois Mitterrand had championed the single currency to bringpeace and security to Europe. Kohl wrote in a newspaper, "A vision isbecoming a reality. For me, the common currency in Europe fulfills a dream. Itmeans there is no turning back from the path toward unification of ourcontinent."

Thenations adopting the euro are: Austria, Belgium, Finland, France, Germany,Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. Thosestaying out are Britain, Sweden and Denmark.

Questions:

1. Whatdoes the passage mainly tell us?

2. Whatcan be said about the passage?

3. Whatcan be inferred from the passage?

Text 2

Britain'sReaction to the Single Currency

BuckinghamPalace and other royal residences open to the public do not accept euros attheir gift shops and entry turnstiles.

The newcurrency was launched in 12 European Union countries on January lst, 2002, butBritain was not one of them.

ABuckingham Palace spokeswoman said the decision not to accept the euro was purelya business one and not a political statement. The retail outlets at theofficial residences have never accepted any other currencies. It is simplybecause as very small retail outlets, they don't have the facilities forchanging currencies.

However, manyretail outlets in Britain have prepared to accept the new currency sincemillions of tourists are expected to visit the country every year. In 2002alone, visitors from the euro zone were estimated to spend more than 6.55billion euros in Britain.

Majordepartment stores Debenhams and Marks & Spencer and a big electronicsretailer accept euros, but only on a limited basis initially.

Twenty-nineof Marks & Spencer stores, primarily those in tourist locations, have atleast one cash register on each floor to process euro transactions. Its otherstores have at least one designated area -- either a register or a customerservice desk-where the currency is accepted. Products are not priced in euros,however, and change is given in British money.

The Britishprime minister Tony Blair said Britain will only join the single currency ifeconomic conditions are right. A series of recent opinion polls show manyBritons oppose the euro and see it as against Britain's sovereignty.

Questions:

1. Whatdoes the passage mainly tell us?

2. Whatcan we infer from the passage?

3. What isthe speaker's attitude toward Britain's decision not to join the singlecurrency?

Part C

WithdrawingMoney

Teller:Hi. Can I help you?

Peter: Hi.I've, uh, just opened a checking account and I want to withdraw 150 euros. WhatI want to know is, who do I make the check out to?

Teller:Well, since the money is for you yourself, you make it out to cash.

Peter: OK.W... how do I do that?

Teller:You just write the word 'cash' on this line.

Peter:This line here?

Teller:Yes, next to 'pay to the order of'.

Peter: OK.C-A-S-H. Now, I want to make this 150 euros. There, how's this?

Teller:Well, you've written the amount in numbers, but you have to write it out inwords, too. That goes on the second line, there.

Peter: Oh,yeah.

Teller: Bythe way, it's a good idea to draw a line from the end of the amount to the word'euros' so nobody can change the amount.

Peter: Oh,thanks. Well, that should do it. Here you go.

Teller:You forgot to sign your name. There, in the bottom right corner.

Peter:Woops, sorry. Here you go.

Teller:The date.

Peter:W... huh?

Teller:The date -- you forgot it. It goes in the top right corner.

Peter: Oh,right. OK, am I done?

Teller:Yes. That's fifty-a hundred -- a hundred and fifty euros.

Peter:Thanks a lot. Have a good day.

Teller:You too.

Part D

The FrenchFranc

For acentury much attached to national symbols, France took the imminent death ofthe franc calmly. It was as if an ancient great-great uncle were about to passaway: a time for nostalgia and regret, rather than grief.

Unlike theGerman mark, the franc had never been a symbol of national rebirth or glory.Its recent history was relatively stable but it had to be revalued as recentlyas 1960. In the 1950s, its value and reputation were so weak that Frenchpoliticians considered abolishing it and replacing it with something else,based on the value of the pound.

But moneyis money after all. It is with us every day. It was surprising that such aconservative people did not express greater sorrow for the loss of theirfamiliar francs. It was also surprising they did not feel a greater sense ofaesthetic loss for the franc had always been one of the world's most beautifulcurrencies.

The namefranc was first used in 1360, to celebrate and help to pay for the release ofKing Jean II, who was captured by the still poundless English. He created the"franc" or "free" to celebrate the occasion. Over the next400 years the name came and went but was finally restored by the Revolution in1795. On February 17th, 2002, the French franc disappeared completely from thefinancial scene.

Questions:

1. How didthe French feel for the loss of their franc?

2. At whattime did the French politicians think of replacing the franc with some othercurrency?

3. Why wasthe French currency named "franc" when it was first used in the 14thcentury?

4. Whatcan be learned about the French people from the passage?