What would happen to my Euro cash if the Euro currency is dissolved?
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This entry was posted on Friday, June 4th, 2010 at 9:46 am and is filed under Currency Trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
June 4th, 2010 at 9:46 am
First, for the Euro to be dissolved then another treaty would have to go into place. Countries would have to state that they perhaps plan on reverting back to their original currencies. Timelines for changeover periods would be set and conversion rates would be agreed upon.
Basically, IF THIS HAPPENED, it would be same thing that happened to your original currencies after many countries switched to the Euro. Back then, the official date on which the national currencies ceased to be legal tender varied from Member State to Member State. The earliest date was in Germany where the mark officially ceased to be legal tender on 31 December 2001, though the exchange period lasted for two months more.
You would have plenty of warning.