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French Franc anyone?

Terrance

SBH Insider
Read in Today's newspaper that the French Franc still has its value and you can trade in your French Francs for Euros up until February 2012.

So anyone who still has paper French Francs in their possession or stashed away in a zipper pocket of their old luggage, has 6 weeks to trade them in. :laugh:
 
Found it online....

Going after the French franc
POSTED: 01/3/12 4:09 PM

The Dutch guilder is dead as a doornail, but the paper money keeps its value for another twenty years, until January 1, 2032. A year ago, the Dutch still had for close to a billion in guilders in their possession. In October of last year, the number had dropped to 250 million. In other words: the Dutch brought in as year time 750,000,000 guilders worth of obsolete money to the bank and exchanged it for euros.

In France, the deadline is closer: come February 17, the banks will no longer accept the good old French franc. Retailers have picked up on this in a most creative way: they have started to accept the franc again, and the market is responding beyond their wildest expectations.

According to the French Central Bank the value of not exchanged francs was at the end of last year a bit more than 600 million euro.

The daily newspaper Liberation reported that shopkeepers in Saverdun, a village with 4,600 inhabitants, collected already 15,000 francs (worth about €2,200), and these guys started their action not even two weeks ago.

This reminds us: our French-side neighbors may also have a stash of old French francs in an old sock somewhere. What stops our retailers – be it on the Dutch side or the French side – from following the example of French retailers and accepting that money as well for the next six weeks?


Source: http://www.todaysxm.com/2012/01/03/opinion-going-after-the-french-franc/
 
Sorry to say, Jeanette.... but I really don't have any :D Wait....!!! I may have some French coins in an old etui somewhere... :)

Was never big on collecting money..... only spending it. Wisely, of course ;-)

I got three 2-dollar bills stuck in the back of my wallet. Does that count as a collection? :laugh:

Hope to see you again in 2012, Jeanette.
All the best for the new year.
 
I would be willing to shell out a few bucks for a nice crisp 5 Franc note. I miss the Little Prince...
 
Over the years we've given away our francs to kids as joke gifts. Was this a premature move?

Never could convert them to euros "on isle" after the brief grace period. "Monsieur, you have to send them to the central bank in Paris." "Yeah, sure. The postage and insurance would not be worth the wait or piddly return." "C'est le systeme, Monsieur." :p
 
JimD said:
I didn't realise there still was one, didn't everything move to Frankfurt?

The national central banks of all EU states own the ECB in Frankfurt. Many of the former functions of central banks in the Eurozone moved to ECB.

Germany rules Europe anyway so who cares if it's called ECB or Deutsche Bundesbank :)

Not that the France's or any other country's problems would go away just by renaming their local currency to something else.
 
Petri, I was teasing.

How's Finland feeling about the whole thing?

Britain is saying "told you that would happen". Although the impact of a euro collapse would be a very bad thing all round and nobody wants that.
 
JimD said:
How's Finland feeling about the whole thing?

Britain is saying "told you that would happen". Although the impact of a euro collapse would be a very bad thing all round and nobody wants that.

It depends.. Average Joe doesn't like the situation, wants the mark back etc but they don't really understand the situation either. Even if our government can show decent figures compared to most of Europe, the very same fundamental problems exist here as well.

From practical viewpoint we've benefit from the low interest rates and our own currency would have been stronger and slowed down the growth we've had over the last decade, so euro has been a success to the finnish economy as such.

Our banks are in good shape, corporate loans have the lowest interest rate in Europe, but as an export economy our wellbeing depends from the wellbeing of other countries. Our top export countries are Sweden, Germany, Russia, US, the Netherlands, China and the UK (just two are euro-countries). A majority of our exports aren't end products so we need other countries have healthy economy to make the end products, with our equipment, to the global market.

From "outside" the opinions from Britain feel political considering how import the euro market is to the UK and what the impact of euro collapse would be.

While what happened in Greece and Ireland are "obvious", one shouldn't forget that big countries like France and Germany didn't follow the rules either. I like to rank Spain as a "little Ireland" but something that isn't quite that doomed yet, and Italy is more like Japan with a lot of domestic government debt and relatively little private debt. Portugal was "little Spain", they didn't manage to reach the Ireland level.

What I see as the bigger problems are that ECB didn't use or have the same "tools" as the Fed, Bank of England or Bank of Japan and a principal problem in the euro system that the countries involved aren't very comparable.
 
Jim, good question. As General Douglas MacArthur said: "I shall return!".

The way things are going, anything is possible.

In St. Maarten, besides the US Dollar, we are still using non-existing Netherlands Antilles Guilders. :D
 
Petri said:
JimD said:
How's Finland feeling about the whole thing?

Britain is saying "told you that would happen". Although the impact of a euro collapse would be a very bad thing all round and nobody wants that.

From "outside" the opinions from Britain feel political considering how import the euro market is to the UK and what the impact of euro collapse would be.

Interesting, Britain is in no way willing ill on the Euro zone, 40% of our exports go to the Eurozone, it is just that it seemed an odd idea in the first place.

What are countries as diverse as Germany, Finland, Greece and Ireland doing in a monetary union that has no unified fiscal policy?

It seems even weirder that in trying to create a common fiscal policy that Europe wants to rope in the UK. Britain had to veto that as the chances of it passing through Parliament are as likely as a vote agreeing to be annexed by China being passed.

Back on topic, the Euro has dropped to $1.28 after a French bond auction, which wasn't a disaster, but far from brilliant.
 
JimD said:
What are countries as diverse as Germany, Finland, Greece and Ireland doing in a monetary union that has no unified fiscal policy?

There are the Euro convergence criterias but you have to ask the french or germans why there isn't any "what if..?".

Back on topic, the Euro has dropped to $1.28

The lower it goes, the better it is for the European economy.
 
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