Parallel currencies - alternative to local currency changeover to euro??

I would like to know if there are any alternatives to local currency changeover to euro?
Estonia will start using euro 1 January 2011 and we are helping an estonian company investigating alternativs to the euro changeover in SAP. I know that SAP has programs that can mange the conversion/changeover, but I would like to know the alternatives.
The company uses 2 parallel currencies today. The company code currency EEK (10) is the first local currency, the group currency (SEK) is the second local currency.
Is is possible to use the functionality of parallel currencies in OB22 in this case and set the EUR as hard currency (currency type 40)? Can this be done for a company already in production? Will we be able to see profit- and loss statements and balance sheets from day 1 after we have activated the new currency. Any problems with opens items?
Are the any other alternatives?
Could one stategy be to start at new company code with EUR as company code currency? I realize we have to copy the configuration and masterdata and transfer the balaces to the new company code. What other problems do you see with this alternative?
// Lotta
Edited by: Lotta Johansson on Oct 1, 2010 1:56 PM

Hi Paul,
There is no dual currency phase, I mean not in SAP (there is a mandatory dual pricing period from july 2008 to december 2009).
As of 01.01.2009, SKK will be replaced by EUR.
The swithover can be carried out as soon as the 2008 fiscal year books closing will be done in SAP.
Hope this helps.
Ben

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