Sunday, June 27, 2010

Why I'm going to be VERY careful where I put my money this summer | Mail Online

Why I'm going to be VERY careful where I put my money this summer Mail Online: "Here are two essential pieces of advice. Anyone planning to travel to Eurozone countries during the summer should consider what has previously been unthinkable - the fate of euro notes and coins if the single currency falls apart.
I believe it is inevitable that Greece and Portugal will pull out of the euro at some stage, and when that happens there will be little or no warning.
In these extreme circumstances, the euros issued by these two countries might be converted back to drachmas and escudos - leaving the value of them in jeopardy.
Of course, under European Central Bank rules the value of this money ought to be fully protected, but who knows what will happen if there was a major crisis.
Certainly, on my travels, I'm going to be wary of accepting euro notes with serial numbers that are prefixed with the letters Y (coming from Greece) or M (from Portugal).
I shall also strongly steer clear of notes with the serial numbers starting G (Cyprus), S (Italy), V ( Spain), T ( Ireland) and F (Malta).
This might sound as if I'm being ridiculously alarmist, but you cannot be too careful.
However, other euro notes should be reasonably safe."

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