CONTENTS

INTRODUCTION

SUMMARY OF FINDINGS

• The Timetable
• Positive and Negative Aspects
• Effect of Fixed Exchange Rates Since 1999
• Level of Readiness
• Special Structures
• Ease of Change
• Likelihood of a True Single Market
• Impact on National Sales Territories
• Pan-European Sales Networks
• Role of the Internet
• Effect of the Euro on Construction Equipment Markets
• Price Transparency
• Price Inflation
• Moves to Reduce Price Differentials
• Cross-border Trade
• Economic Benefits of EMU

THE HISTORY OF THE EURO

BASIC FACTS OF THE EURO SYSTEM

• Euro Symbol (€)
• Euro Area
• European Central Bank (ECB)
• Eurosystem
• European System of Central Banks
• Economic and Monetary Union
• Risks and Chances of the European Monetary Union

SURVEY RESULTS

THE IMPENDING CHANGE TO THE EURO

• Positive and Negative Aspects
• Inside the Euro Zone
• Outside the Euro Zone
• The Effect of Fixed Exchange Rates
• Level of Readiness in the Industry

THE EURO CHANGE AND COMPANY STRUCTURES

• Company Structures
• January 2002
• Will the Changeover Go Well?

EFFECTS AND CHANGES

• Chances of Success
• The Likelihood of a True Single Market
• The Future of National Sales Territories
• Pan-European Sales and Direct Selling by OEMs
• The Role of the Internet
• The Single Currency in the Construction Equipment Market After 2001
• New Construction Equipment
• Used Construction Equipment
• Construction Equipment Parts
• European Construction Equipment Exports
• Price Transparency
• Inflationary Effect in 2002
• Moves to Reduce Price Differentials
• Cross-Border Traffic
• Ease of Payment with the Euro
• Economic Benefits of the Single Currency

APPENDIX
DETAILS OF THE PANEL