Note on currencies

Plus ça Change:

The Euro was launched in 2002 on an expectant French public. Fed up with an over fluctuant French Franc playing second fiddle to the Deutschmark, at last they had a currency they could be proud of. It soon dropped against the US dollar and British pound, but it did something decidedly odd in later years.

As Euro member economies started to collapse, the euro actually got stronger. Up to 2007 a Brit could buy his cheese, wine and suppositories at 1.5 euros to a pound. Since the crash this has dropped to 1.1 euros. An odd turn of events – considering the weakness of other nation states using the currency.

Personally I feel this is due to its one redeeming feature: the €500 note. If any paper currency were made for the money launderer, it is this. Worth $665 dollars, that’s a huge decrease in suitcases needed when visiting your favourite Caribbean bank than if you were using $100 bills.


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