Euro

[24butterfly]

So with all the stuff that's going on with Greece, (and of course i just bought 400 Euro...)---anybody got any speculations?????

[PatriciaF]

It has finally dropped under $1.30--but it has taken a long time. I think it shows how weak our economy is too that it hasn't dropped more.

 

We have had the pleasure :eek: of being in Italy one trip and Germany another, when the Euro reached its allow time high against the dollar!

 

If our economy really picks up, I can see a bigger drop--but it seems unlikely to me that it will make a major rally.

[Fblack]

One problem may occur if you need to convert something to Euros at a Greek Bank or use an ATM in Greece to get Euros as we do. There has been a run on Euros by Greek citizens at their banks. So now there is talk, and maybe more than rumors, that Greek banks are limiting Euro withdrawals to only 50 Euros a day. While the actual value of the Euro is not likely to fluctuate wildly, it may be harder to get Euros to pay for private tours etc who want payment in Euros.

 

May 16, 2012: "...Social media users were buzzing Wednesday about rumors that Greek banks had set a withdrawal limit of 50 euros on accounts.... "

 

http://www.latimes.com/business/money/la-fi-mo-greece-banks-20120516,0,2374245.story