 Solution

Two norms $\Vert \cdot {\Vert }_a,\Vert \cdot {\Vert }_b$ are Lipschitz equivalent norms when constants $c,C>0$ satisfy $c\Vert x{\Vert }_a\le \Vert x{\Vert }_b\le C\Vert x{\Vert }_a$ for every vector $x$. Applying these inequalities to $x_j-x_k$ shows that a sequence is a Cauchy sequence for one norm exactly when it is so for the other; applying them to $x_j-x$ likewise equates convergence. If one norm is complete, a Cauchy sequence for the other converges using the first norm and hence also the second. Interchanging the norms proves completeness is preserved in both directions.

Write $x={\sum }_i{x}_i{e}_i$ and set $C={\sum }_i\Vert e_i\Vert$. If $\Vert x{\Vert }_2=1$, then $|x_i|\le 1$, and the triangle inequality givesScaling a nonzero $x$ gives $\Vert x\Vert \le C\Vert x{\Vert }_2$ for every $x$. The reverse triangle inequality now impliesso $x\mapsto \Vert x\Vert$ is continuous, indeed Lipschitz, in the Euclidean norm.

Suppose there were no positive lower bound on the Euclidean unit sphere. We could choose $x_j$ with $\Vert x_j{\Vert }_2=1$ but $\Vert x_j\Vert <1/j$. The Bolzano-Weierstrass theorem supplies a subsequence converging in the Euclidean norm to $x$. Continuity of both norms gives $\Vert x{\Vert }_2=1$ and $\Vert x\Vert =0$, contradicting definiteness. Therefore some $m>0$ satisfies $\Vert x\Vert \ge m$ on the unit sphere. Scaling again proves the finite-dimensional equivalence of norms: