bush get his first euro

[axi]

IIIRC the current rate is 1euro=0.89$
If you want to see the money, visit the ECB site. (www.ecb.int)

In my country however, due to a major blunder of the state mint, the banknotes that were circulated were a tad different:



These banknotes tend to get sticky after being used.

[Evil_Eric_4]

Ranskalden-
Thanks for the link edit-Axi too

BTW I think the coins look real nice.

[ranskaldan]

thanks for the link, axi

there's a different coin design for each country. i'll already thinking of collecting them all.... though that'll be a tad difficult here in Canada.

[axi]

How about the banknotes?

Have you looked at them carefully?

edit: It has been 10 days since the introduction of the Euro and I have yet to see a foreign coin. We will be flooded with them in summer though.

[ranskaldan]

how could i not, axi?

edit: i think in a couple of months you'll be seeing coins from all over Europe!
In fact, coins seem to last very long (>20years) ... so in a couple of years they will be very mixed up.

[axi]

The central banks will probably collect them from shopkeepers and such and return them periodically to their proper states.

[ranskaldan]

that's possible, though why would the central banks want to do that?

[Starchild]

My understanding on why central banks would collect and return the coins is because, every summer, European flock to the south of Europe. Portual, Spain, Southern France, Italy, and Greece. They'd bring their nation's euro coins with them, leading to larger than required amounts of coinage in the southern members. So the banks would collect coins and send them up north to correct the imbalance.

I think the US does something similar when Americans rush to Florida and other states on their vacations.

Hopefully, the banks won't sort out the coins so Germany gets the german coins and Ireland gets the Irish ones. Just send up the required amount of coins and let the designs move freely throughout europe.

[mactbone]

Why would the US government send money anywhere after it's been used?
If certain areas need money more than others (a notion that boggles the mind) we have, what, something like 7 different printing presses, so hopefully that means 7 mints as well and new money is sent to areas with a dearth of cash.

[Starchild]

Printing money creates inflation. Moving money, as far as I know, doesn't.

[ranskaldan]

I don't think that the banks would want to waste the resources and money on sorting out the coins.... i mean, what's the point?

[mactbone]

The US is going to print the money anyway, so they just send that money where it's needed.

[KrazyHorse]

Originally posted by MacTBone
The US is going to print the money anyway, so they just send that money where it's needed.

Ummm...it might well be that the demand for cash money in certain regions exceeds the extra supply mandated by good economics, while in other regions there is a rush to the bank to deposit cash. The banks will then move cash from one area to the other. Remember that the existence of electronic transactions sometimes means that one region might have more cash than wealth while the situation is reversed somewhere else.

[H Tower]

there are 12 federal reserve districts in america. each one is able to print AND destroy money. normally only to replace bills that have been worn out. coins are printed in two places, denver and philedalphia

[Sprayber]

Re: How about the banknotes?

Originally posted by axi
Have you looked at them carefully?

edit: It has been 10 days since the introduction of the Euro and I have yet to see a foreign coin. We will be flooded with them in summer though.

It's not that special. We get that funny Canuck money all the time way down here in the South.