Euros in the ten new countries

Olivier · Post by **Olivier** » Thu Apr 14, 2005 4:36 am

About Scotland... Why should the Scots adopt the euro if they can't use it outside of Scotland? It's nonsense...

I don't think it would be good to get "national bills". Imagine the mess...

Craft · Post by **Craft** » Thu Apr 14, 2005 4:38 am

helicase00 wrote: so i dont think what you just said , is praticaly possible

I don't believe it either, but the point was that it is still legally possible.

Here you can find the earlier sketches of the present euro notes. There is a grey area with the circle of 12 stars on the reverse of every note. That is the placeholder for the national symbols, had they been included.

tabbs · Post by **tabbs** » Thu Apr 14, 2005 11:02 am

Olivier wrote:Why should the Scots adopt the euro if they can't use it outside of Scotland?

You might as well ask why "the Scots" adopted the pound sterling if they cannot use it outside of Scotland :-)

Practically they usually can - just as the Bank of England notes are accepted in pretty much all of the UK even though they are legal tender in England and Wales only. Keep in mind, however, that in the UK there are eight banks that issue paper money- and all these notes currently look different. Sure I guess that some kind of agreement could be found that allows them to issue standard euro notes and continue to issue their own (commemorative etc.) notes, in case hell freezes ov----errm, in case the UK would want to join the currency union.

The Channel Islands are a different issue since these are not even parts of the UK. As an example, a "Guernsey euro banknote and coin issue ... would have no legal status outside the Bailiwick". http://www.gov.gg/emu/bailiwickmain.htm Now that page is a couple of years old (published >5 years ago I think). But the legal situation has not changed as far as notes and coins from Guernsey, Jersey, etc. are concerned.

Of course I am not saying that these problems could never be solved. Currently the effects of the euro cash are quite tangible. But a currency union where some notes are accepted only in certain parts of that "union" does not look very attractive to me.

Christian

helicase00 · Post by **helicase00** » Thu Apr 14, 2005 11:20 am

well its all national pride
i would be more proud the way i act rather than what i have on my banknotes and what currency we use

come on grow up

i mean the euro is a new currency made for europeans and its not a currency of one country and implied on the other countries, like the russian rubles were in the soviet times

Olivier · Post by **Olivier** » Sat Apr 16, 2005 12:58 am

tabbs wrote:
Olivier wrote:Why should the Scots adopt the euro if they can't use it outside of Scotland?
You might as well ask why "the Scots" adopted the pound sterling if they cannot use it outside of Scotland

Exactly! I find it very strange...

Olivier · Post by **Olivier** » Sat Apr 16, 2005 1:00 am

tabbs wrote:Practically they usually can - just as the Bank of England notes are accepted in pretty much all of the UK even though they are legal tender in England and Wales only.

So you have to change your money of you go from Scotland to England?

I hope the value is the same, at least...

tabbs · Post by **tabbs** » Sun Apr 17, 2005 10:32 am

Olivier wrote:So you have to change your money of you go from Scotland to England?

Uh, no :-) Many if not most stores in England and Wales will accept notes from Scotland just fine. Others might not; guess that notes issued by Northern Irish banks are a little more difficult to spend in England since many people will not be familiar with them.

Christian

Dakkus · Post by **Dakkus** » Sun Apr 17, 2005 6:09 pm

I've understood the English pound is legal tender all around the UK, but the Scottish pounds are accepted outside Scotland only if the shopkeeper wants to accept them.

tabbs · Post by **tabbs** » Sun Apr 17, 2005 7:40 pm

Dakkus wrote:I've understood the English pound is legal tender all around the UK

Strictly speaking, only coins are legal tender in Scotland :-)
http://www.bankofengland.co.uk/banknote ... tender.htm

Christian

helicase00 · Post by **helicase00** » Sat Apr 30, 2005 7:43 pm

3 other countries joined the ERM II
Cyprus, Latvia and Malta

by the end of this decade we will have lot of new coins

)

Dakkus · Post by **Dakkus** » Sun May 01, 2005 6:23 pm

helicase00 wrote:3 other countries joined the ERM II
Cyprus, Latvia and Malta

by the end of this decade we will have lot of new coins :))

I guess the countries will start using Euro on May the 1st, 2007, five months after Lithuania, Estonia and Slovenia.
Only six real EU countries left without the euro :)

Craft · Post by **Craft** » Sun May 01, 2005 9:42 pm

Well, it isn't carved in stone yet if the countries that are now planning to change over to the euro will actually be able to do so within the timetable they have wished.

Even Estonia, who's been very proactive in making the preparations, is lately facing some problems at least with the inflation rate. If the economies of the new countries fail to perform as well as required, the changeover may have to be postponed.

helicase00 · Post by **helicase00** » Mon May 02, 2005 12:01 am

Dakkus wrote:
helicase00 wrote:3 other countries joined the ERM II
Cyprus, Latvia and Malta

by the end of this decade we will have lot of new coins )
I guess the countries will start using Euro on May the 1st, 2007, five months after Lithuania, Estonia and Slovenia.
Only six real EU countries left without the euro

Malta is likely to introduce it on 1st Jan 2008
thats what the prime minister said

micdab · Post by **micdab** » Tue May 03, 2005 9:21 am

The official fixed exchange rates for the three new ERMII countries:

Latvia: 1 € = 0.702804 LVL

Malta: 1 € = 0.429300 MTL

Cyprus: 1 € = 0.585274 CYP

tabbs · Post by **tabbs** » Tue May 03, 2005 12:15 pm

micdab wrote:The official fixed exchange rates for the three new ERMII countries

Right, but I would not emphasize the word "fixed" - after all, the currency rates may still flow to some extent. The ECB uses the term central rate in English. This press release lists those central rates, and also the upper and lower rates, for each participating currency:

http://www.ecb.int/press/pr/date/2005/h ... 02.en.html
(English version, but the press release is available in all official EU languages)

Christian