Friday, June 13, 2008

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 fo

Chinese Whispers Maybe!! Support for euro in doubt as Germans reject Latin bloc notes

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. Each country prints its own notes according to its economic weight, under strict guidelines from the European Central Bank in Frankfurt. The German notes have an "X"' at the start of the serial numbers, showing that they come from the Bundesdruckerei in Berlin.

Posted by big chris @ 02:26 AM (1199 views)
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10 thoughts on “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 fo

  • A failing project? Must be the right time for Gordon to take us in then.

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  • gardeniadotnet says:

    @ renting 2..

    So cynical. So funny!

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  • Usual anti-euro scaremongering from the Torygraph. From my frequent trips across the border to Italy , I haven’t seen any of the droves of german tourists complain about receiving their change in “italian” euros. And you can bet that the German shops will be happy to accept any sort of euro presented to them by foreign tourists. Next the author of this piece will be urging his readers to stock up with butter and sugar, a la 1970’s………..

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  • stillthinking says:

    If the euro breaks up, then the deutchmark will subsequently maintain or increase value, while the Italian lira will lose value, as will the Spanish. Everybody knows this. So accordingly everyone would ask for their euros to be converted to the deutchmark, which would effectively abdicate monetary policy to the Germans. Unless Italians, Spanish and the various countries were -forced- to accept certain old currencies based on residency or where your bank account is registered. Given that the Germans will be able to honestly exchange for deutchmarks, the only people who would want to hold German denominated euros are in the southern bloc.
    Maybe the Germans are wondering why there are so few German notes in Germany and are trying to hang on to them.

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  • Capialistpiglet says:

    Is this the same Euro thats much stronger than Sterling or US Dollar at the moment? When I receive a Scottish note, I always ask if I can have a ‘proper’ note instead. Doesn’t mean I don’t have faith in the pound though…

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  • Agentimmo has it right. It’s the usual load of anti-euro tosh from the Telegraph. I work across border a lot – no such story at all.

    Inflation is the real subject in Germany – and is issue for us all. Home ownership and the crazy UK residential property market is not an issue in Germany – never has been. So without this fee-guzzling industry as a lobby group, the press can debate policies to combat inflation without confusing the issue.

    The ECB will take action through increased interest rates, the UK MPC will have to face the finger-wagging of Gordon Brown who is about to seeing millions of his voters suffering negative equity.

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  • I agree with growler, I’m living in malta at the mo , its a holiday destination for alot of europeans.The island is full of tourists from Italy,Spain etc etc.They are all using their own euros from their country and trust me loads of German tourists over here sunbathing everywhere. I haven’t come across any of them (German tourists)refusing any change.The only thing they seem to refuse to do is sharing the beaches with everyone else .

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  • and these muppets journos are paid how much? its time the news editors sacked a few

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  • Actually people are refusing american dollars

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