OK seen from the point of view of the man in the Straße.
An experiment. We will provide the transportation (OK a witch's broom - it's cheap and it is all we can afford) and the hospitality (well maybe we can find you a tent and a sleeping bag). We will for the sake of this experiment give you one 100 Euro note.
Right you leave Frankfurt and go in order to Amsterdam, then Athens, then Madrid, then Rome, then Paris, then Brussels, then Lisbon, then Luxemburg. In each of those cities you go into a bank and ask them to change the 100 Euro note for local currency. Finally you return to Frankfurt. You change the money back You give me back the money that you have changed. How much money do I get back? Answer 100 Euro.
Stage 2 - we now send you to London and change the 100 Euro note for local currency, and come back to Frankfurt and change that back. How much money do I get back? 81-82 Euro!!!!
Try it from Madrid rather than Frankfurt if you want - same answer!
Does anyone want to tell me how I benefit in Stage 2 of the operation, and if I do not who does????
Stage 3 - we now send you to London, Zurich, Oslo, Moscow, Copenhagen and Stockholm where you do exactly the same thing. Then you return to Frankfurt (or Madrid) and change the money back. How much money do I get back? I do not know exactly, but I will lay odds that it is less than 50!
That is in my interest????
The buying and selling rates used on currencies has risen so much, it is like a sort of taxation. The speculators and bankers may be only too happy to see the Euro fail. I will tell you from the point of view of the man in the Straße it is because they want to be able to rip off as many people as possible!
Postscript for anyone who doesn't get it (particularly people in the UK who have difficulty working these things out) - if the Dutch, Greeks, Spaniards, Italians, Portuguese, Belgians etc have their own currencies then Stage 1 becomes like Stage 3 - i.e. banks making money for nothing and the rest of us ending up out of pocket!
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