airblue
Posts: 1785
Joined: Sat May 19, 2001 9:16 pm

Italy Wants To Introduce 1 €uro Notes

Sun Aug 25, 2002 3:26 am

The Italian Economy minister Mr. Giulio Tremonti announced this afternoon that Italian govern will ask to European Central Bank a request to introduce 1 €uro notes in spite of the today used coins.
The main reason comes from the fact that when there was the old Italian Lira people used mainly notes (the smallest notes was ITL 1.000, about €0,50) so today there is a big problem for people to give a right value when they go to shop. In this situation the inflation will grow as fast as then predicted.
He also said there is not reason we don't have 1 €uro notes when US Dollar (the main competitor for Euro) has 1 Dollar notes.

I talked before with some friends and relatives about it and everyone seem very enthusiastic if they introduce 1 €uro notes.
 
airsicknessbag
Posts: 4626
Joined: Thu Aug 17, 2000 2:45 am

RE: Italy Wants To Introduce 1 €uro Notes

Sun Aug 25, 2002 6:23 pm

I´d love them to be introduced too. Whenever I was in Italy, I enjoyed not having to handle all these crappy coins because the smallest note there was 50 Cent.

But I don´t see this happening, for one single reason:

The Euro is a D-Mark in disguise. Hence the Euro notes´ and coins´ denominations (and even physical measurements) are modelled after the D-Mark. Plus in Germany, we´ve made bad experiences with the biggest coin and the smallest note having the same value: that was 5 DM (2.50 EUR), and the note was basically ignored and not used in everyday transactions. You know, originally it had been planned to have a 2 EUR note too, but due to the experiences the Germans had made, this was done away with.

Daniel Smile

P.S.: The Italian leather industry just loves the Euro as it is: people have to buy newer purses to hold a) physically bigger notes and b) larger numbers of coins.
 
airblue
Posts: 1785
Joined: Sat May 19, 2001 9:16 pm

RE: Italy Wants To Introduce 1 €uro Notes

Sun Aug 25, 2002 8:50 pm

I think a good solution is to keep 1 and 2 Euro coins and print only 1 Euro notes.
The 1 Euro notes will be used mainly in south Europe countries and abroad.

 
Guest

RE: Italy Wants To Introduce 1 €uro Notes

Mon Aug 26, 2002 1:01 am

I hear that the 1 and 2 cent coins are likely to be withdrawn - and that €uro notes do not wear at all well. Personally, I am very surprised that they don't use plastic notes as have already been used in Australia, Singapore and Northern Ireland.
 
airsicknessbag
Posts: 4626
Joined: Thu Aug 17, 2000 2:45 am

RE: Italy Wants To Introduce 1 €uro Notes

Mon Aug 26, 2002 3:54 am

>>>I hear that the 1 and 2 cent coins are likely to be withdrawn

No way. The German retailers absolutely need their X.99 prices. What to do if the smallest unit is 0.05? You either put the price up one cent, which will be perceived as a hefty increase (by 1 EUR, namely) or you lower it to X.95 - impossible with profit margins of 1.5%.

Other than most currencies which have evolved over the years, the EUR was designed from the scratch. Hence its designs, denominations and measures are very well thought through and logical. There will be no changes in the foreseeable future.

>>>I hear that [...] €uro notes do not wear at all well.

I hear that too. My personal experience is different, I rarely get anything but crispy new notes, but of course I´m not in any ECB committee monitoring the bigger picture. DM notes were in circulation between 1 year (10 DM) and 6 years (1000 DM) on average before they had to be replaced. And, like the EUR, they were made of cotton too, and not plastic.

Daniel Smile
 
mls515
Posts: 2954
Joined: Mon Jun 26, 2000 5:56 am

RE: Italy Wants To Introduce 1 €uro Notes

Mon Aug 26, 2002 4:47 am

It would make tipping strippers a lot easier and cheaper, that's for sure.


 
LOT767-300ER
Posts: 8526
Joined: Mon Jan 01, 2001 12:57 pm

RE: Italy Wants To Introduce 1 €uro Notes

Mon Aug 26, 2002 6:33 am

Euros already clawing each other about the Euro? hehehe  Smile
 
paulc
Posts: 1440
Joined: Mon Mar 05, 2001 10:42 pm

RE: Italy Wants To Introduce 1 €uro Notes

Tue Aug 27, 2002 3:54 pm

who cares - have not even seen a euro note - long may that continue  Big grin
English First, British Second, european Never!
 
swissgabe
Posts: 5147
Joined: Tue Jan 11, 2000 4:57 am

RE: Italy Wants To Introduce 1 €uro Notes

Tue Aug 27, 2002 4:36 pm

I would love to see notes. The coins are ok but if you have to send out money, lets say 3 EUR, well, so you have always to send coins.
But the Euro is still cool  Smile/happy/getting dizzy
Smooth as silk - Royal Orchid Service /// Suid-Afrikaanse Lugdiens - Springbok
 
jwenting
Posts: 9973
Joined: Mon Apr 23, 2001 10:12 pm

RE: Italy Wants To Introduce 1 €uro Notes

Tue Aug 27, 2002 4:57 pm

No way. The German retailers absolutely need their X.99 prices. What to do if the smallest unit is 0.05? You either put the price up one cent, which will be perceived as a hefty increase (by 1 EUR, namely) or you lower it to X.95 - impossible with profit margins of 1.5%.

Dutch retailers would love to see those coins go.
We had a cent in the past, after it was withdrawn all prices were kept at X.97, X.98 and X.99 and the stores got a lot of money from rounding up the totals to the nearest 5 cents (which was the smallest coin we had left).
Estimates differ, but if you have a thousand transactions rounded up 2 cents each on a day that's 20 Euro a day for each supermarket. Might not sound like much, but it's tens of millions a year nationwide.
I wish I were flying

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