Friday, May 18, 2012

Greeces' "Y" Euro Notes being withdrawn? (reports)

This blog has alerted its readers for years of the dangers of holding certain bank notes of the euro currency with the starting letter dedicated to certain dodgier states. In the case of Greece it was "Y".

The Slog has been reporting today that it appears such notes are disappearing in Greece and that "X" for German notes are being circulated in replacement, read here.

So if Germany is to take over the issuance of Euros for countries forced out of EMU because of economic mismanagement and/or profligacy, then surely German citizens are indeed very right to start worrying about Weimar Republic style hyperinflation.

The rest of us should perhaps now treat all euro notes, whatever their initial serial letter, with the same equal suspicion! Or at the very least avoid the X and Y like the plague!



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