Discontinue the Euro's 1c & 2c coins! Sound familiar?
Posted:
Tue May 21, 2013 1:20 pmby uthminsta
Now they're discussing the feasibility of discontinuing the 1-cent and 2-cent euro coins. Do those arguments sound familiar?
http://blogs.ft.com/money-supply/2013/0 ... ent-stays/
Re: Discontinue the Euro's 1c & 2c coins! Sound familiar?
Posted:
Tue May 21, 2013 9:20 pmby thesilvertiger
The more things change, the more they stay the same!
Re: Discontinue the Euro's 1c & 2c coins! Sound familiar?
Posted:
Wed May 22, 2013 10:15 amby uthminsta
Quick recap of the article. As I said, these arguments will all sound familiar.
Get rid of 'em!
1. They're stacking up everywhere on everyone's dressers and counters.
2. They cost more to make than they are worth. "The cumulative loss from making the things is €1.4bn."
3. You can't buy anything with them.
4. Netherlands and Finland both seem to be doing fine without them.
But if they discontinue them...
1. People think the prices will all be rounded UP to the nearest 5 cents.
2. Donations to charity will allegedly go down dramatically.
3. We should make them more cheaply instead.
Same old tired arguments. One commenter, though, referenced the hyperinflation of the Weimar Republic... at least some of their readers do recognize the important lessons we should learn from history.