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Euro on the ropes : Germans start screening Euros by country of origin

Discussion in 'Politics & Religion' started by guerilla, Jun 13, 2008.

guerilla Notable Member

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Thought y'all might find this interesting. Gresham's Law anyone? No, it's not commodity money, but it is hoarding notes of perceived higher value...

Support for euro in doubt as Germans reject Latin bloc notes
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/13/cneuro113.xml

Excerpt

Notes printed in Berlin have more currency for bank customers who fear a 'value crisis'

Ordinary Germans have begun to reject euro bank notes with serial numbers from Italy, Spain, Greece and Portugal, raising concerns that public support for monetary union may be waning in the eurozone's anchor country.

Germany's Handelsblatt newspaper says bankers have detected a curious pattern where customers are withdrawing cash directly from branches, screening the notes to determine the origin of issue. They ask for paper from the southern states to be exchanged for German notes.
Click to expand...

guerilla, Jun 13, 2008 IP

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