|
davepoth
19,859 posts
68 months
|
Seriously, did nobody read the very comprehensive answer to this that I made as the second post? There is no way of figuring out which national bank issued a note from the banknote itself. The country code only tells you who ordered the printing of the note which is not the same thing.
|
|
|
-Pete-
1,908 posts
45 months
|
Riff Raff said: I think the euro notes will still be euros even if Greece is forced out of the single currency.
What would happen I imagine, is that all of the non-cash balances in Banks and other institutions, the 'electronic' money if you will, would be re-denominated as the new currency at a rate of 1:1. When you tried to withdraw it in cash you would be given the new currency.
It would be a bit chaotic, but not half as chaotic as things would be if other euro area countries refused to honour notes from anywhere other than Germany, so the idea that which notes you have matters seems a bit daft to me. The ECB would have to stand behind the euro notes wherever printed. I agree 100%, so I guess anybody in Greece with savings would prefer to have cash or physical assets. After the 1:1 or whatever, the Euro should hold it's value better than the new currency and will no doubt still be usable tender whether legally or illegally, more so than dollars or other currencies especially for those who can get a boat to Italy to do their shopping. Unless Italy decides to create export restrictions to Greece. Has there been a run on the banks in Greece?
|
|
|
Riff Raff
2,222 posts
64 months
|
davepoth said: Seriously, did nobody read the very comprehensive answer to this that I made as the second post? There is no way of figuring out which national bank issued a note from the banknote itself. The country code only tells you who ordered the printing of the note which is not the same thing. This is Pistonheads. Nobody really reads anybody's posts, we just keep on going round and round in circles. You only need to look at the 'is the end nigh for the Euro?' thread to see that. 
|
|
|
-Pete-
1,908 posts
45 months
|
Riff Raff said: davepoth said: Seriously, did nobody read the very comprehensive answer to this that I made as the second post? There is no way of figuring out which national bank issued a note from the banknote itself. The country code only tells you who ordered the printing of the note which is not the same thing. This is Pistonheads. Nobody really reads anybody's posts, we just keep on going round and round in circles. You only need to look at the 'is the end nigh for the Euro?' thread to see that. As far as I can see, we three are in agreement. So have the Greeks been taking all their money out of banks in safe Euro notes? And if not, why not? Or is it a matter of when?
|
|
|
davepoth
19,859 posts
68 months
|
-Pete- said: s far as I can see, we three are in agreement. So have the Greeks been taking all their money out of banks in safe Euro notes? And if not, why not? Or is it a matter of when? They've been sending all their money to London and Frankfurt for the last few years. More of a languid Mediterranean bank stroll than a run; it wouldn't be their style. 
|
Advertisement
|
|
Gassing Station | The Pie & Piston | Finance
What's New | My Stuff | Top of Page
