€uro

Hey all others in the €-area, what do you think of our new currency? I think it's a good thing that you don't have to spend your time in Xchange Bureau, etc.. but. Still, I think we lose a bit of our independence. And I don't like the Euro value. One euro is 5,94573 FIM. Hmm... I will never learn to convert FIMs to Euros and € to FIM.

And the stupid pictures in Euro notes. Is there anything from Finland? No, just some gothic things. From Italy, Germany and France I think, they always have to be better than others. And Euro coins. Can you see Finland well? It looks like a little bit of fly excrement in the corner of the coin... But of course you can see the bigger countries, yeah.


Anyway, there is good things and bad ones. What does people in non-€ countries think of Euro?

http://www.euro.ecb.int

This message was edited Sunday, Dec 16th 11:26 AM

I have been reading about the new Euro money in the papers and it sounds very confusing! I can just imagine what would happen if the U.S. , Canada, Mexico, etc...all combined! We would be so confused! Good luck with it though!

Evert

There are good and bad things about the Euro which I won't expound here because I'll get told off ;)

When will Finland be using it?

Every €-country will start using it 1.1.2002...

This message was edited Sunday, Dec 16th 2:47 PM

Hi Evert,
I just read an article
in our local newspaper today re: the Euro.
Good luck with it! :-)

Baa - can you tactfully share, please? I personally have no idea about the currency, and would like to hear any opinions.

But if you can't, I understand. It's not worth being hollered at - but I think most of us can keep it under control.

-Jennifer

Evert,

I looked at the web page you hyperlinked and I think they all look very neat. I'd love to get my hands on some. Can we "buy" them here in the US? I noticed that there weren't any conversions for US dollars.

What form of currency does Finland use now? I saw links to other countries, but not yours. Just curious.

Is there a phase out period or does the euro basically "take over" next year at the start of the year?

Can you hang on to some of your local currency and coins for me and I'll pay to have them sent over? My daughter and I collect foreign currency and I've love to have a sample of what you use. Maybe I can send you something you'd like to have from the states. ??

Thanks for sharing this. It's been interesting to read.

Well we in Britain could be trading in Euros, even though at present we have not joined in, because many of us go abroard to Spain, Italy and France so instead of coming back with pesetas, Francs and Lira we will be bringing back Euros and the big stores say they will have the British price also the Euro price, this includes shops such as Marks @ Spencers, so we could be joining in too.

I know that when we went to Europe, it was hard to keep track of the currency conversions. We stayed in Germany, Austria and France and by the time we made it to France, my eyes would glaze over and I'd get light-headed trying to do the math. :)

One U.S. dollar is equal to 1.925 schillings (Austria), 7.25 French francs and 2.16 Deutchmarks (Germany). Even if I enjoyed math, which I don't, that would be taxing on the brain after awhile.

I can see where the Euro would eliminate a lot of that.

We will have two currencies for two months, beginning the 1.1.2002 as I said. Finnish Markka and Euro. Every €-country will have own pictures in the other side of the coins. Smiln, I could send them but I will get them only in January.. although, we can buy starters kits now..
By the way, 1 $ is about 6,5 to 6,7 FIM.

Hmm. I think I'm the only one here from and €uro country... hmm. heh

This message was edited Monday, Dec 17th 9:47 AM

Angelsong

It's OK I'm used to being shouted at LOL.

My 3 main concerns about going into the Euro are:

1. We are not told enough about the implications of having a single currency.

2. Interest rates

3. European economies are different from country to country.

1. The economic implications of joining a single European currency are much more complicated than just a currency which you can travel around Europe with and getting rid of strong currencies like Sterling. We had a monetary change in 1971 when we had decimalisation but that was a swim in a dry puddle compared to the change in our economy when we change over to the Euro.

My current grouse is the fact that we are constantly promised a referendum on the Euro but never get one. If we do get a referendum you can bet your bottom dollar we won't be given all the facts and figures of entering the single currency. To make an informed, intelligent decision for my nation and the generations long after I'm gone, I need know the ins and outs of it all. This seems to be too much to ask. In trying to find more information you always come up against a lot of conflicting, wrong or out of date information.

2. Interest rates are another boring subject but again very important. Each country will lose its ability to change its interest rate. The flexibility to change interest rates in individual countries have saved many from potential recession or at worst pulled them out of it. Were a country to go into a recession but other countries were doing fine, it will be tough pooh on that country.

3. Some countries in Europe have a similar economy, the UK is more like USA and Canada economically than any other country in Europe. We have special trade agreements outside of Europe which they want us to break completely which means our special financial relationships with many countries across the world will ultimately be severed. Being in Europe is very important to our trade and industry but so are our ties with all the other countries we deal with.

Before I get people slamming me for this, I suggest they look into the current policies from the EU over the Euro for themselves. I would also like it noted that I have only mentioned the UK where it is appropriate to do so. I'm not a Euro sceptic but I am concerned about my nations future as must we all be. Embracing Europe is great but lets do it with our eyes wide open. It must be each nation's informed decision to join not just some individuals who will be looking at a nice, cushy job in Brussels when their political career here is over.

I apologise for the length of the thread!

Sorry but we are now in a global economy,i remember when we were not in the EU and food was very very cheap because we traded with our Commonwealth brothers and sisters in Australia, NZ,Canada and others and it was great but we cant go back now.I think we are better either in or out not dithering like we are doing. I just cant believe that countries like Spain and Greece have not been a member for as long as the UK and yet they have enbraced it fully.One of the good things i like about the EU is i think of human rights, i think they are passing good laws to protect us better. This is only my opinion and as we all live in so called free countries we each and all have our own opinions and we should be able to agree or disagree without rancour.

As an outsider looking in I do not understand most of this. Why will interest rates be affected by this new currency? Is a single type of currency going to alter that each is a soverighn nation? Does it limit in any way each nations ability to rule by it's chosen way? At what point do the old currencies become obsolete and therefor without intrinsic value? Will a single currency hold itself more steady in todays money market and being backed by many nations will it stabilize the economies of the nations that are now struggling or lessen the value of the stronger national currencies?

And these are just a few of the questions I have as an outsider? I can imagine that those of you who are directly involved have thousands of questions! This is a very complex problem to understand and without the data and research information questions cannot be answered. Good luck to all of you and I hope that the answers will be forth coming from your respective governments soon!

Sheila

No need to apologise! I have in no way said the EU is a bad thing, I think its great. I just want to know the facts before I make any choices and yes I do want a choice as some other countries have been given, not all countries have given their nation a choice and I personally don't want that to happen here.

In fact, there is a pot of money that we both pay into which I could draw on to start a farm, were the UK to have allowed our people to do so. We pay into these things regardless and while this has nothing to do with the Euro its one of the good things about the EU which is encouraging enterprise.

Zany

Yes, the single currency will affect interest rates, because the Central European Bank will be setting them and not each nations own national bank. Each nation does not have soverign rule anymore, we have a certain amount of control in individual countries over our own nation at the moment but we are also subject to European law and increasingly so. Some of the new laws are great, others are not so great but that is the law all over!

Not all countries have joined the Euro, and we aren't the only one as yet, so when all countries will be synchonised is unknown. I asked the same question as you when I worked in a financial house, will the Euro, embraced by all the EU be more stable. Shrugged shoulders and it would make no difference if countries joined the Euro or not it will be a currency that some countries trade in, was my answer. It would help the struggling economies and break the strength of strong economies like our own.