Euro - great joy?

[Piers]

Given the change to the Euro by 12 "eurozone" countries, I am reminded by my bank that I must search my boat for the many small caches of foreign notes and coins I have hoarded over the years.

On 31.12.2001, the national currencies of all twelve countries (Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Netherlands, Luxembourg, Portugal and Spain) will all cease to exist.

After this date comes another beyond which the use or exchange of the old notes and coins will cease.

The soonest is 28.01.2002 for the Netherlands.

Ireland is next at 09.02.2002, followed by France on 17.02.2002, and the rest on 28.02.2002.

Hence, the advice is to search and use the money asap....

Hey, Ho, it's all a bit of a challenge to a chap's sense of humour - or does that show my age?

Or is it a case of learning to take the rough, with the rough?

Piers du Pre
MBM Cruising Club enthusiast

 

[longjohnsilver]

Solution!!!

As I intend taking boat across to Cherbourg in next few days, all you hoarders can send me your old soon to be worthless French Francs in exchange for some good old British pounds.


Exchange rates by negotiation!!! ie 100 Francs = crate of beer!!

 

[byron]

Re: Solution!!!

I have already cashed my currencies but I do have 12 Belgium Francs left, want to give me a £50 note for them?

©2001
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[Guest]

Re: Noted (hic)

I have to lose 300 quid by the day after tomorrow then....

 

[Deleted User YDKXO]

Thats the whole point of the Euro innit? Now you'll only have to have one cache of cash on your boat instead of several. Anyway I understand that the Euro's been good for the boating industry. All those Spaniards and Italians who are too afraid to take their zillions of illegal pesetas/lire down to the local Nat West to change them into Euros are spending them on new boats

 

[chippie]

Does this mean that the current exchange rate between the Euro countries is fixed for all time?
Please enlighten a humble working man down in the antipodes.

 

[longjohnsilver]

The point is that there will be no exchange rate as only one currency.

What sort of boats dominate the market in NZ? Are they mostly diesel and if so what is the most popular make of engine. And how about fuel prices? Everyone tells me that NZ is one of the best places in the world to go boating, you lucky b########d.

 

[byron]

Just like the USA having the dollar for all States. Europe excepting UK and a couple of others not quite yet ready to surrender their sovreignty will have one currency - The Euro.
However if I am elected Pope I will take us out of Europe and apply to become a US State.

©2001
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[chippie]

Yes, I realise that there will no longer be an exchange rate from now on,but does this mean the current rates are fixed for all time? I can understand the point that uses the USA as an example but surely the franc is not the same as the pound etc. I was thinking that terms of trade could change but you would be stuck with today's relativities. I suppose once the transition is over it doesnt matter much.
In the new motorboat market diesels prevail almost completely.
Large power catamarans are gaining in popularity.
A lot of people who can afford a new boat get them built to order, although there are alot of boats imported too, even Bayliners which probably suit our climate better than yours.
There are some pretty classy boats designed and built by NZ yards but not big production runs as in Europe.
The usual range of engines are seen , I think volvo sold the most here last year but Cat,Yanmar,Ford,John Deere, Mercruiser all have a presence .
Since the America's Cup the boatbuilding industry is enjoying a boom from superyachts downwards.
The current price of diesel is76.4cents per litre at the gas station down the road and petrol around $1.10 . As I live in the Far North these prices are dearer than main centres.
Yes, its a great place to go boating with the only fees for overnight stays being on marinas I have never been charged for anchorage.
Cheers,Chippie.

 

[Piers]

Hi Chippie,

Until the Euro is THE common currency for the countries I listed above, each has its own currency, subject to all the usual market forces, with its own rate of exchange against any other. The Euro also has its own rates. Hence, for example, you can change dollars into French francs, French francs into Euros, German marks into Euros, and so on, each having its own rate.

But the moment the big change comes and each countries' currency is withdrawn, it's just the Euro against the rest of the world....definately a case of PMT - Pre-Monetary Tension

Piers du Pre
MBM Cruising Club enthusiast

 

[Piers]

Whislt I suffer yet another Pre-Monetary Tension hot flush, I believe I have to make one Euro-fact even more clear.

Each of the 12 Euro-countries above had individual rates of exhange set between the Euro and their own currencies, on January 1st 1999. These rates will stay fixed and end on the date when each of the countries withdraws its own currency.

All other currencies fluctuate against the Euro, as usual.

Piers du Pre
MBM Cruising Club enthusiast