Sunday 6 March 2011, added by Freeman at 09:00
Mugardos in northern Spain decided to find the old currency as payment to accept the euro to boost their economy.
More than 60 shops in town are assuming there are bundles of old notes that people have been abolished or forgotten and they can spend with them. The economic crisis in Spain has forced them to come to new ideas and it's worth it obviously.
First, the shopkeepers were skeptical, but leave the sound again and need the cash to attract tourists actually brought a success. People are now driving after Mugardos from outside and give their pesetas out there, they have not exchanged. Officially 10 years ago a course was taken as 1 € = 166 386 pesetas. As the BBC reports, for example, visited a man last week, a hardware store in town and spent his old 10,000 peseta notes, because he did not know what else to do it to begin. Now he owns a new toaster.
The euro was introduced in Spain in January 2002. The population had to exchange three months to the old currency into euros at the banks. From then only at the National Bank. She says there are pesetas worth of at least 1.7 billion euros around somewhere forgotten. The reserve is what the shopkeepers want to tap into Mugardos, to give them a much needed boost. Like many other countries, Spain is the euro and has taken into the single currency its sovereignty over its own finances given to the ECB. A major reason why they go bad. The economy is not competitive, they may not like it used to devalue their currency. This leads to high debt, high unemployment, especially among young people, nurses, academics and get a job or be fobbed off with € 1,000 a month.
discover Perhaps other cities in Spain, but also in other countries in the euro zone, this untapped spending power in the form of the old currency and accept it, or concentrate more general advantages of its own currency. It is estimated that in Germany alone was 13 billion D-Mark in the drawer. Could also be an alternative currency if the euro continues loses its value as before. If you take gold as a benchmark, then the euro less than a quarter as in the introduction is worth. Thank ECB, you make a great job to preserve the purchasing power!
Source: all smoke and Rauch.com
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