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Greece wants ancient bridge on banknotes



 
 
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  #1  
Old September 10th 04, 01:01 PM
John Stone
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Default Greece wants ancient bridge on banknotes

http://www.mpa.gr/article.html?doc_id=478658
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  #2  
Old September 12th 04, 03:26 AM
Tim McDaniel
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In article ,
John Stone wrote:
http://www.mpa.gr/article.html?doc_id=478658

It's not "Greece wants". A single Greek deputy to the European
Parliament is suggesting that the Mycenae Bridge be depicted on the
one- or two-euro banknotes "to be issued shortly".

All the other architecture on euro notes is fake, synthesized to look
appropriate to some period, right?

More interesting is the notion of small-denomination euro notes.
The story has

The circulation of 1 and 2 euro banknotes is being considered in
the effort to deal with high prices and the speculation phenomena
observed in many EU member-states after the replacement of their
national currencies.

That makes no sense to me. How does notes versus coins affect high
prices or speculation? It's simply a matter of weight versus
durability, and also conversion of vending machines. ... OK, Googling
further I see
http://quickstart.clari.net/qs_se/webnews/wed/cq/Qeu-eurozone-economy-ecb.RVhq_DO6.html,
a 2003 article from Agence France-Presse, including

Replacing one-euro coins with notes would also have an "impression
on inflation" by giving the psychological impression that bills
are worth more, Reynders said, adding he had also asked the ECB to
look into the matter.

http://www.turkishdailynews.com/old_editions/12_16_02/econ.htm has
an Associated Press article from 2002:

The European Central Bank is reviewing whether to issue 1- or
2-euro banknotes in addition to the existing coins, a spokesman
said Friday, after officials in some countries said small bills
would be more convenient.

Bank spokesman Manfred Koerber said bank officials were reviewing
the lineup of banknotes. "What we are doing is we are making a
stock-taking of all the arguments exchanged years ago" in
preparation for the introduction of euro cash on Jan. 1 this year,
Koerber said.

Currently, however, "there are no plans to introduce low
denomination bills," he said.

The above AFP also talks about such an evaluation,

ECB President Wim Duisenberg had indicated at the meeting that a
report on the pros and cons of introducing the smaller
denomination banknotes would be issued by the end of 2004, a
spokesmen said Tuesday.

The second series of euro bills is scheduled to begin in 2005. ...

Eugenio Domingo Solans, a member of the bank's executive board,
said last month that "the one-euro banknote is something which is
not currently on the agenda" of the ECB's policy-setting governing
council.

"After the changeover and the huge efforts made to have the euro
accepted, I don't think it's the right moment to have this issue
on our agenda," he added.

And some governments are reluctant to revisit the issue so soon
after the currency's launch, which was marked by rancorous debate
in the EU over what designs should go on euro notes.

From various articles, it looks like some countries that used to have
low-value banknotes want low-value euro notes, and the other countries
that used to not have them before still don't want them in euros.

--
Tim McDaniel; Reply-To:
  #7  
Old September 13th 04, 01:17 AM
Dik T. Winter
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In article Padraic Brown writes:
....
Indeed. And another (Christian, I think) was in on that one as well. I
simply find it worth a sarcastic remark that euroland went to all the
trouble to GET RID of low value notes and replace them with coins. A
sensible move, in my opinion. And now they want to go back to the old
situation?


I think the situation is a bit involved. In the Netherlands nothing was
gotten rid off. The smallest note was DFL 10, EUR 5 is only slightly
more. The largest coin was DFL 5, and EUR 2 is a bit less. Something
similar in Germany, where the smallest note of 5 Mark barely did
circulate, but the 5 Mark coin was widely used. In Ireland the smallest
note was 5 punt, about equal to EUR 5. I do not know what the value of
the smallest Finnish note was, but I suspect something similar. So in
those countries virtually nothing was changed. As I understand it the
move only comes from Italy, Austria and Greece, and they had indeed some
really small value notes. In the other countries the cut-off between
coins and notes was also higher, so that the new cut-off was not much
higher than before.

It will take some more time for this to settle.
--
dik t. winter, cwi, kruislaan 413, 1098 sj amsterdam, nederland, +31205924131
home: bovenover 215, 1025 jn amsterdam, nederland; http://www.cwi.nl/~dik/
 




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