Interesting Times

On Channel 4 News the other night there was a discussion between three financiers regarding the Greek crisis. Two were issuing the usual soothing words about how all would be well with the world, and the Euro will weather the storm.

The other financier made the claim that in Germany, many people are closely examining their high value Euro Notes. Evidently you can identify the country of issue from the serial number.

The Germans are getting picky about whose notes they accept. If it has been issued by the Bundesbank then thats fine. If it has been issued by one of the PIIGs (Portugal, Ireland, Italy, Greece) the notes are refused. The claim was shunned by the others and the discussion quickly moved onto less controversial ground.

You have to ask, how damaged is the Euro?

We live in interesting times:- In the true Chinese meaning of the phrase.

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