BARATIER
Senior Travel Member
Viva la Revolucion!
Posts: 118
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Post by BARATIER on Nov 29, 2002 21:02:07 GMT -5
Hi,
This might be a stoopid question but I can't seem to be able to load the EU page about the EURO, so I ask:
If I get EURO in Spain, can I use them, say, In France?
I am aking, cuz I read read somewhere that the EURO bill has one side to be the same in all coutries and the other to be specific the country that issued it.
It wouldn't make sense if you cannot, since, to my understanding, the EURO was created to have on currency valid all over Europe, right?
Comments, thoughts are welcome.
Bara
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Post by nitsansh on Nov 30, 2002 9:45:48 GMT -5
Actually, the Euro notes are the same in all countries... only the back side of the coins is different...
It doesn't matter... all Euro notes and coins are legal tender in all 12 Euro countries...
A similar situation is in Scotland, where several banks have authority to produce pound notes... they are accepted in Scotland, but might not be accepted in England or Wales, because they are not official notes!
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Post by nitsansh on Nov 30, 2002 10:08:20 GMT -5
It wouldn't make sense if you cannot, since, to my understanding, the EURO was created to have on currency valid all over Europe, right? That is the long-distance plan... at the momemt, the Euro is valid in only 12 countries... not even all EU members use it... There are 10 more countries which could join EU in May 2004, and presumably they would also adopt Euro... I read that some countries decided to link their currency to Euro and if it was possible would like to use Euro money by now... I can forsee a situation that within a decade all Europe will have one currency... except for Switzerland that show no intention to join EU... no doubt, travellers will love that! |
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Post by me on Nov 30, 2002 19:12:47 GMT -5
The site i read sez: "a Frenchman could buy a hot dog in Berlin paying with a euro coin bearing the likeness of the king of Spain," or something like that. All the coins are legal tender. But, word has it that machines in some places refuse to accept some of the coins from certain other places in euroland. Don't know if this has been worked out yet.
So far, 12 of the 15 EU members have signed up for the euro. Sweden, the only one of the 3 which has no legal "opt out," has scheduled a referendum for September 14, 2003.
Sweden's pro-euro pm has waxed poetically about a future Baltic region where almost everyone uses the euro. (all but Russia) That would certainly make travel in the region much easier!
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Post by nitsansh on Nov 30, 2002 19:52:17 GMT -5
Sweden, the only one of the 3 which has no legal "opt out," Could you, or anyone else who might know, explain this? |
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Post by me on Dec 1, 2002 1:52:51 GMT -5
certainly,  when the treaty (maastricht treaty, i think) was negotiated and signed, EU members were obligated to participate in EMU (the euro). Britain & Denmark had amendments included in the treaty which said, specifically, that they could choose not to join the euro. The Swedes didn't request such an amendment, yet still signed & ratified the treaty. So, Sweden has a legal obligation to join the euro as soon as they qualify. they got out of this by never actually joining the "ERM" (exchange rate mechanism), which is a requirement to qualify. a very legalistic way to get out of the obligation. they can violate the spirit of the law without violating the letter of the law. Greece, which was also not in the euro from 1999, worked very hard on its economy to qualify - in 2001, i think. they joined as soon as they could. no one in EU will call Sweden on this because it would be politically incorrect to "force" anyone to join who does not want to. i'm no expert, this is just my reading of the treaty. if i'm wrong, please corect me. |
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Post by nitsansh on Dec 1, 2002 9:57:03 GMT -5
I figured something like this...
If I understand correctly, if the voters in Sweden say yes to the Euro, it will adopt it immediately (as soon as technical issues allow).
There were talks of referendum in UK, but I didn't here about a date set for that... the Labour government is in favour... what are they waiting for?
With due respect to Sweden and Denmark... if Britain say yes to Euro it will be more significant for a United Europe... it should be noted that UK has stayed out of Schengen agreement as well, while Sweden did accept it...
Does anyone have a clue what is the procedure for new countries expected to join the EU in 2004 to adopt the Euro?
Will they have to qualify the same criteria as the original Euro members?
BTW, you were right about Greece... when Euro was introduced in 1999 it didn't pass the economic criteria (inflation, government deficit etc.), and did so 2 years later.
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Post by me on Dec 1, 2002 16:16:52 GMT -5
i think any new EU members will be in the same shoes as Sweden, have a legal obligation to enter the euro as soon as they are "qualified" to do so. i assume they could do the same as the Swedes to stay out, if they wanted to. but, i am under the impression that, like Greece, they are actually eager to join.
btw, what i read in the swede pm statement is that in the event of a "yes" Sweden would join on 1 January 2006.
you are absolutely right about the relative import of UK joining, much more so than Sweden & Denmark combined! The pound has worldwide importance! That's why it isn't so silly for UK to stay out. they already have that level of world influance. Denmark & Sweden just don't. It would be a much bigger difference for them.
Sweden & Denmark are little fish in the big pond of world finance. with the euro, they would become part of a "big fish." UK is a now a big fish. if UK joined with the euro, together they would all become an even bigger fish.
- d
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Post by nitsansh on Dec 1, 2002 17:13:21 GMT -5
For what it's worth... of the 3 Euro-rebels Sweden's currency is the strongest since the introduction of Euro money at the beginning of the year...
As of Nov 27, Swedish Krone has gained 2.67% against the Euro, Danish Krone is about equal (up 0.14%), while the Brittish Pound is the big loser... 5.66 down against Euro...
For you north Americans... the US$ went 12.77 down against Euro, and CA$ did only slightly better... 11.69 down...
Any South Africans here? Your Rand is the strongest of the world's major currencies this year... it gained 20% on the Euro!
Your trips abroad are a real bargain...
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Post by nitsansh on Dec 1, 2002 17:32:00 GMT -5
Sweden & Denmark are little fish in the big pond of world finance. with the euro, they would become part of a "big fish." UK is a now a big fish. if UK joined with the euro, together they would all become an even bigger fish. - d The pound has lost much of its importance since Euro was introduced... before that, the Pound was in the "big league" of world currencies, beside the US$, Yen and DM... now the $ and Euro are in a super-league, the Yen close behind, and the Pound is relegated to the 2nd level, along with the Swiss Frank... it's no coincidence that it has weakened against all European currencies, and even the Yen and AUS$... One note about the Rand... I found that last year it lost about 20%, so it's just gaining that back this year... and the Swedish Krone was also a big loser in 2001 and it has yet to regain that deficit... |
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Post by me on Dec 2, 2002 18:32:55 GMT -5
didn't realize sterling was so "out!" i guess my info is out of date.
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Post by nitsansh on Dec 2, 2002 19:37:19 GMT -5
didn't realize sterling was so "out!" i guess my info is out of date. The Euro exist less than one year as a currency, so I can't blame you... |
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Post by nitsansh on Dec 2, 2002 19:47:01 GMT -5
For what it's worth... on the chart of exchange rates in my paper, the Pound is still listed in #3, ahead of the Yen, as it used to be before the Euro replaced DM at spot #2... but that's because we are much closer to Europe than the far east... actually, a year ago Yen was at #5 behind the French Franc...
but this order may mean nothing... the Italian Lira used to be way down the list, behind smaller countries like Austria, Belgium, SAF, AUS, CAN, and all of Scandinavia...
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Post by me on Jan 10, 2003 2:26:05 GMT -5
it surprises me that d-mark was so highly listed in your paper's exchange chart. so many american members of the ethnic group most tied to your country carry such understandable ill-will toward germany. "the more things change, the more they stay the same" as it used to be before the Euro replaced DM at spot #2... |
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Post by nitsansh on Jan 10, 2003 11:10:19 GMT -5
it surprises me that d-mark was so highly listed in your paper's exchange chart. so many american members of the ethnic group most tied to your country carry such understandable ill-will toward germany. What has exchange rate chart to do with history? Germany is an important trade partner and among the most pro-Israeli countries these days... and among the most popular destinations for Israeli tourists, mainly due to cheap car rental... |
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