Our European Quest
Day 7: A bulging wallet
By CNN's Richard Quest
(CNN) -- My wallet is bulging. No, that is not a boast about how much cash I have, rather a reflection of the bundle of small currency that's accumulated having been on the road for two weeks through the new Europe.
Latvian Lats. Estonian Crowns. Polish Zloty. They're all there. Small denominations after changing money and spending as I went along.
Although the 10 countries will join the European Union by next week they will all keep their own currencies for the next few years.
It's not that they didn't want to join the Euro-Zone (the 12 existing EU members who share the euro as their common currency) rather that these countries simply weren't economically ready to accept the euro and all its strictures.
Some countries have already pegged their currencies to the euro and are effectively shadowing the single currency in preparation for officially joining the scheme.
But It will be 2007 at the earliest when these new euro-countries can expect to be part of the euro Zone.
But, someone has clearly forgotten to tell the people the euro is not their money yet. Because one thing I have noticed is that from Slovakia to Estonia, and all points in between, the euro is widely, readily and easily accepted.
It is not just the big shops or hotels that take the euro. Small garages and even market stall traders selling souvenirs recognize the euro.
With money changing skills worthy of a middle-eastern bazaar they switch effortlessly to tell me how much that tacky ornament, or even postcard is going to set me back in the euro.
This of course, makes enormous practical sense to those countries whose borders criss cross each other.
A journey from Slovakia to the Czech republic will take you across Austria. Same if you head to Hungary. And Residents of the Baltic countries regularly go back and forth across their common borders.
At the moment, a jungle of money is involved with changing cash at border or looking baffled at what the exchange rate is for which.
 |  Richard and the team heading for Vilnius. |
That will disappear when the euro arrives. And all the new countries should have the new euro by the end of the decade.
The willingness and acceptance already of using the euro is something that must gladden the heart of the European Central Bank and "eurocrats" in Brussels.
At a time when Sweden has said no, Britain wants no part, and the Danes are lukewarm, to have so many countries already using the euro through the back door sends a signal that the euro will soon have more members.
The experts say that that probably can only be a good thing for these countries, especially the smaller new EU countries.
The euro's introduction here will further enmesh them into the European Union and will facilitate their trade with the rest of the Community.
So, for the time being, still come prepared with local currency. But, don't worry if you run out. A cab driver in Bratislava, a shopkeeper in Vilnius and a bar tender in Tallinn wont look in horror if you have to pay in euros.
Warsaw under boards
There are dozens of police vans and thousands of policemen with riot gear and water cannons outside my hotel.
No, the political clock hasn't been put back in Poland, where I am now; rather the World Economic Forum is holiding its economic summit in the city.
As is now the norm with these events they expected thousands of anti-globalisation protestors so have prepared accordingly.
Shops, cafes, the old town square are all boarded up in anticipation of argy-bargy by the demonstrators.
Frankly, with this level of policing it would take a lunatic or someone hell-bent on making the evening news to start any trouble here.
Less than 24 hours before Poland joins the EU, it is a sad way to start this new era with so much of the beautiful city of Warsaw under boards.
Thankfully in the main square there are preparations underway for a concert on Saturday after Poland is "in."
That should be an altogether happier occasion than politicians and pundits pontificating about what this all means.
And lastly: Please keep your e-mail questions and comments coming.
A selection appear on the Web site (click here) along with my answers. The e-mail address is europeanquest@cnn.com
