The well-respected British Independent warns Brits to “Beware of the Greek Euros,” in light of the increasing probability of Greece’s Eurozone exit. The journalist advises the readers to “check the serial numbers on their euro notes” or they “could be left with “funny money,” a leading British travel company warned yesterday, in response to the deepening crisis involving the single currency.
The Independent reports, “DialAFlight told customers, “Although nobody is quite sure what will happen if Greece is ejected from the euro, we think it is possible that Greek euro notes would have to be used as a temporary currency.”
“The company urged people to check their euro currency to look for the country of origin,” explaining to them how they can figure which euro note is Greek and which Spanish. “Greek notes begin with the letter ‘Y’ and Spanish notes with the letter ‘V.’”
The newspaper sees the possibility of a return to Drachma as less possible, explaining that “It is thought more likely, however, that notes held by Greek banks would be officially overstamped before being issued, making them legal tender only in Greece. The value of “Greek euros” would fall sharply against the “real” currency.” It seems that the journalist sees an extraordinary “Greek Euro” emerging in the markets, reminding that the same process accompanied the collapse of the Soviet-Union.
Independent reports that: “DialAFlight is going beyond this scenario, by suggesting that euros currently in circulation could be suspect.”
“The managing director of DialAFlight, Peter Stephens, said the warning on its website did not arise from any official advice, but from speculation within the country.”
“Mr Stephens suggested that holidaymakers could either spend such notes locally or ‘take Greek euros to banks in another country and swap them there.’”