Vatican slow to show Euro

Christian Century, Jan 16, 2002

Despite the strong support of Pope John Paul II for the euro, the Vatican may be the last country to put its euro coins into circulation. Coin collectors converging in early January on the Vatican's Philatelic-Numismatic Office were told to return in February or early March to buy the coins bearing the pope's image.

Neither the Vatican nor the Italian government offered any explanation for the delay, but there was speculation that the Italian Mint was still too busy turning out Italian euros to get around to the Vatican's coins. Both the Italian and the Vatican lire, which are interchangeable, will remain in circulation in tandem with the euro until February 28.

Speaking on January 1, the official euro launch day, the pontiff said he hoped the single currency would bring "peace and prosperity" to the 12 European Union countries participating. "Today, with the single currency, they reach an historic goal," he said. "I hope that it will promote the full development of the citizens of the countries. May justice and solidarity grow in all of Europe to the advantage of the entire human family."

The Vatican is one of a small group of mini-states with currencies linked to EU members that are converting to the euro. The others include San Marino, Andorra and Monaco. One side of the euro is identical in all the countries while the other bears a national image, The Vatican euro coins, to be minted in denominations of 1, 2, 5, 10, 20 and 50 cents and 1 and 2 euros, show the pope in profile.

The Vatican also issues its own stamps for use in the Vatican Post Office and produces special editions of both stamps and coins for collectors. As in the past, it will use Italy's folding money.