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View Full Version : Euros are NOT all the same.



ciderhunter
30-03-2013, 23:04
If you check your euro coins, you can tell which country minted them. But did you know that the serial numbers on euro notes denote country of printing?
According to Max Keiser of RT News, Germany is only taking German printed euros!

http://www.youtube.com/watch?v=Zax-zEI3BWA

timmylish
31-03-2013, 00:43
Don,t blame them although they should remember what happened to their currency prior to the onset of the First World War!

ciderhunter
31-03-2013, 10:23
Thank you timmylish. I am now thinking of the implications. If I fly to Germany, sit down for a coffee and pay with a Spanish issued 50 Euro, what will happen? Will I get change? If I do it will be German printed euros and when the cafe owners go to the bank will it be accepted? If the banks refuses it, everyone in charge of a till will have to be shown how to spot a German euro.
So will the cafe refuse my 50 euros? In which case I either get a free cup of coffee or I get marched to the police station for passing duff money.
The more I think about this the more the euro looks untenable.

TenerifeTeddy
31-03-2013, 13:15
The Euro is supported by the European Central Bank, so the country it is printed in is irrelevant. If not then the whole premis of the Euro as a European wide currency can't work.

ciderhunter
31-03-2013, 13:27
The Euro is supported by the European Central Bank, so the country it is printed in is irrelevant. If not then the whole premis of the Euro as a European wide currency can't work.

Thanks, that is how I have always understood it, but now we have the most powerful euro nation breaking ranks and only trading in it's own. This in effect should (I hope) lead to the demise of the euro.
I am still awaiting of evidence of this but 'thisismoney' website has mentioned this too.

TenerifeTeddy
31-03-2013, 13:45
It may just be a few shops or businesses, if it were the whole country then the news would be much more widespread by now, and I certainly don't see how it could be legal to refuse a euro note or coin, just because it is printed in another euro using country.

KirstyJay
31-03-2013, 17:11
Ask a Cypriot whether his Euro is the same as your Euro.You can take as many out of your bank as you like but if you live on that island you cannot.

Capital controls....coming to a bank very close to you,very soon.

Fivepence
31-03-2013, 17:13
Ask a Cypriot whether his Euro is the same as your Euro.You can take as many out of your bank as you like but if you live on that island you cannot.

Capital controls....coming to a bank very close to you,very soon.

:agree: Cyprus was a game changer.

TenerifeTeddy
31-03-2013, 17:28
Ask a Cypriot whether his Euro is the same as your Euro.You can take as many out of your bank as you like but if you live on that island you cannot.

Capital controls....coming to a bank very close to you,very soon.

Capital control, which Cyprus always had in the 7 years I lived there in the 70's & 80's is very different to not being able to use a currency in the countries in which is it legal tender.

delderek
31-03-2013, 17:54
But countries within the EU are not supposed to have capital controls, free movement of your funds is, or rather was, part of the EU rules, Just shows how much these rules mean. Which country is next, probably Spain. Sell your property, wait 3 or 4 years to try and get your money out.

KirstyJay
31-03-2013, 18:01
********....Cyprus has a different form of Euro now because of capital controls....when they had the pound that was a Sovereign nation decision to control i.e not an unelected bunch of criminals saying take it or leave it.Leaving would be better to be quite honest for them and you even if you don`t realise it yet.

How can a Cypriot use their Euros as a legal tender in any European Country if they can`t access them in the first place?

TenerifeTeddy
31-03-2013, 18:47
********....Cyprus has a different form of Euro now because of capital controls....when they had the pound that was a Sovereign nation decision to control i.e not an unelected bunch of criminals saying take it or leave it.Leaving would be better to be quite honest for them and you even if you don`t realise it yet.

How can a Cypriot use their Euros as a legal tender in any European Country if they can`t access them in the first place?

Whilst I think what Cyprus has done has opened up a huge can of worms, having done it they had no option but to bring in Currency Control, otherwise all the money they want to tax would be out of the country before they can get their hands on it.

It has set a huge precedent that will cause massive problems in the future, because how can any individual or business with over 100K capital operate, if 60% of their cash balance can disappear on a government whim.

It will encourage people to use the banks as little as possible and to keep minimal balances, which is sure to fuel the black economy even more.

KirstyJay
03-04-2013, 21:57
Although the last 2 posts you have answered in my name seem to have appeared without my knowledge, so I can only assume TheBloke posted them from my computer, in response to the last part of your post,



It will encourage people to use the banks as little as possible and to keep minimal balances, which is sure to fuel the black economy even more.
It already has done... I know many individuals and businesses that are not only moving towards the black economy more, they are refusing to use banks for anything other than bill payments. How is this supposed to help economic growth?

ciderhunter
03-04-2013, 22:47
One point on the Cyprus problem. Don't you just love the way that they belittle the theft as a 'Haircut'? If you have a haircut it grows back. At a possible 60% theft of savings, a truer word would be Amputation. You could say it's costing savers an arm and a leg.

Balcony
04-04-2013, 07:33
We visit Germany often enough and never have we had our Euros 'vetted'. It might be something RT might like to insinutate, as they continuously find ways to try to bash the US and EU. They get some pretty wild and wacky people to interview, so don't take them too seriously.

ciderhunter
04-04-2013, 09:24
You are probably right Balcony. I have not been able to verify the story, other than that the banks and therefore the businesses are taking any old euros and it is just the German populace that are refusing non german euros. They are taking them to the banks and demanding German ones.
For what it's worth, the serial numbers on German euros begin with the letter X.