What happened to the existing currencies of participating countries between January 1, 1999 and June 30, 2002?

Question

What happened to the existing currencies of participating countries between January 1, 1999 and June 30, 2002?

What does Solomon predict will happen to the role of the Euro as an international reserve?

What are the advantages of replacing national currencies with a single currency?

Answer 1

Economy of scale. Massive amount of buying power, and tons of resources. Pushing the value of the US dollar to third place, after the pound and euro.  And if Africa, India and Brazil join forces the US dollar might become extinct. Just  African resources, are enough to blackmail the rest of the world.