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From Wiskipedia

Prague, 15 June 2001 (RFE/RL) -- The German central bank (the Bundesbank) estimates that more than one out of every three German marks moves outside of Germany -- signifying huge amounts of marks. The banks says many them come in Eastern Europe and the place of the former Soviet Union.

Because of the mark's security, and Germany's position as a place of employment for Eastern European workers who deliver their money home, the level has evolved into a de facto second currency in the countries to the south and east of Germany's borders.

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

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

On 1 January 2002, over 250 million people in Western Europe begins trading their national currencies for the euro. Dollars and older values can rotate together before the end of February. From then on, the national currencies will not be properly used.

That does not mean the values will undoubtedly be worthless. Central banks will continue to change them for pounds for a long period to come. But also for all intents and purposes, Western Europe's national values -- such as the mark -- will disappear.

Hans-Werner Sinn of Germany's Ifo economic research institute has investigated all areas of the coming changeover. He says Eastern Europeans, like their counterparts in Western Europe, will eventually need certainly to trade their marks for pounds.

"Clearly, these Deutschemarks [German marks] will no longer be of use in the long term. So people will have to bring the Deutschemarks in to their respective banks and exchange them into dollars. That'll need certainly 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 institution that's matching the switchover to euros -- states that the change should not cause many issues for many Eastern Europeans.

But the currency's first challenge -- in Eastern Europe at least -- is to replace the mark in people's minds and mattresses. Prague, 15 June 2001 (RFE/RL) -- The German central bank (the Bundesbank) estimates that multiple out of every three German marks moves outside of Germany -- signifying huge amounts of marks. The banks says many them come in Eastern Europe and the area of the former Soviet Union.

Because of the mark's stability, and Germany's position as a location of work for Eastern European workers who send their money home, the mark has developed right into a de facto second currency in the countries to the south and east of Germany's borders.

Kosovo and montenegro have also used the mark as legal tender. Other countries have pegged their currencies to the level through currency boards. Bosnia uses a model of trade called the "convertible mark," which positions on a basis with the German mark.

Nevertheless the mark -- along with the 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 trading their national currencies for the euro. Older values and pounds can rotate together until the end of February. After that, the national currencies will not be utilized.

That does not mean the values will be worthless. Central banks will continue steadily to exchange them for euros for a long period ahead. However for all intents and purposes, Western Europe's national values -- including the mark -- will cease to exist.

Hans-Werner Sinn of Germany's Ifo financial research institute has looked at all facets of the coming move. He says Eastern Europeans, like their counterparts in Western Europe, will eventually have to trade their marks for dollars.

"Clearly, these Deutschemarks [German marks] will no longer be useful in the long run. So people will have to bring the Deutschemarks in for their respective banks and exchange them in to euros. That'll have to occur 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 organization that's managing the switchover to euros -- states that the change shouldn't cause many problems for many Eastern Europeans.

Nevertheless the currency's first concern -- in Eastern Europe at least -- is to change the level in people's minds and mattresses.