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Thread: Whither the euro?

  1. #11
    I would wait and get currency when you arrive.

    I think the big issue would be strikes, which have been a real pain for tourism in Greece since the crisis hit there. Also all international train service from Greece has been suspended indefinitely. Those are the types of issues I would be more worried about.


    Quote Originally Posted by chriskre View Post
    So how do you think that will affect tourists visiting Italy and Spain?
    I'm planning a trip in January. What timing.

    I guess I won't be converting to Euros for this trip, maybe they'll actually want my dollars.

    I remember going to Brazil in the 80's where you had to change your money every day because it was literally losing value overnight and you didn't want to exchange more than you could use. On one occasion I had literally a sack of money for a few dollars. Very scary times for Brazil but somehow they've rebounded. I hope the Euro can rebound as well but very unnerving for those who have to use it.

  2. #12
    Some analysts have rather frightening opinions. Here is one of them:

    Prepare For Europe Collapse Before New Year - Seeking Alpha

    Here is another one:

    http://www.cnbc.com/id/45251717

  3. #13
    Contributor - Bronze Sydney's Avatar
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    AUD/Euro?

    Can someone give me a view of the AUD as compared to the Euro?

    We have a trip booked for Italy in Dec 2012 before coming to the US and one of the rental place in Rome (via VRBO) is charging us in Euros. We're paying the substantial deposit for the week in Jan. Should we wait until later in 2012 to pay, or the sooner the better?

    I was thinking if we wait, the exchange value of AUD might go up so the trip could be a lot cheaper?

    Although if the whole thing collapse, then what?

    None of you are investing in the AUD? Why not? Do you think it'll go up or is it just too expensive?
    Syd

  4. #14
    Quote Originally Posted by Sydney View Post
    Can someone give me a view of the AUD as compared to the Euro?

    We have a trip booked for Italy in Dec 2012 before coming to the US and one of the rental place in Rome (via VRBO) is charging us in Euros. We're paying the substantial deposit for the week in Jan. Should we wait until later in 2012 to pay, or the sooner the better?
    Still too early to work it out IMO. January is a long way off and the market is changing so rapidly. I'd be more worried about the VRBO owner getting your cash so early. December is winter, will the demand be so high for the rental that you need to book and pay in January. You could always put your substantial deposit in Ubank for a while.

  5. #15
    Contributor - Bronze Sydney's Avatar
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    Hi Carol, that's what I was thinking about the early deposit but apparently, he requires it to hold the booking. Even though if cancellation is before 3mths of check-in, there is no fee, so I don't see the point of debiting my cc so early, but possibly, it's for his peace of mind.

    *Forgot to add that it is Christmas week from 22- 27 Dec '12 so it is a high demand week I assume? We don't want to be in a hotel for Christmas. Although RCI has a rental near Rome for the same week and they want FULL payment up front with no cancellation allowed.
    Syd

  6. #16
    Quote Originally Posted by Sydney View Post
    Hi Carol, that's what I was thinking about the early deposit but apparently, he requires it to hold the booking. Even though if cancellation is before 3mths of check-in, there is no fee, so I don't see the point of debiting my cc so early, but possibly, it's for his peace of mind.

    *Forgot to add that it is Christmas week from 22- 27 Dec '12 so it is a high demand week I assume? We don't want to be in a hotel for Christmas. Although RCI has a rental near Rome for the same week and they want FULL payment up front with no cancellation allowed.
    I haven't used VRBO but I'm a little suspicious about someone needing such a substantial deposit for Christmas week, which I too would assume is high demand. Is that usual? At least we know RCI is honest . If you want to go ahead, is it possible to negotiate progressive payments to the owner. I guess your credit card will give some protection too.

  7. #17
    Super Moderator chriskre's Avatar
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    Quote Originally Posted by Carolinian View Post
    I would wait and get currency when you arrive.

    I think the big issue would be strikes, which have been a real pain for tourism in Greece since the crisis hit there. Also all international train service from Greece has been suspended indefinitely. Those are the types of issues I would be more worried about.
    Oh hadn't thought about the strikes. And we're going on a Costa cruise so maybe the crew will strike too. That would really suck.

  8. #18
    I think the AUD is a currency with strong fundamentals. It is certainly not going to collapse. The only negative is that many market traders consider it to be a ''commodity currency'' and if commodity prices tank, the value of the AUD will be impacted some. I do not consider holding it simply because it is very difficult to find in the country in which I live. Only the larger banks would be likely to have it, and they are the ones with the worst exchange rates.


    Quote Originally Posted by Sydney View Post
    Can someone give me a view of the AUD as compared to the Euro?

    We have a trip booked for Italy in Dec 2012 before coming to the US and one of the rental place in Rome (via VRBO) is charging us in Euros. We're paying the substantial deposit for the week in Jan. Should we wait until later in 2012 to pay, or the sooner the better?

    I was thinking if we wait, the exchange value of AUD might go up so the trip could be a lot cheaper?

    Although if the whole thing collapse, then what?

    None of you are investing in the AUD? Why not? Do you think it'll go up or is it just too expensive?

  9. #19
    Deja Vu. Nobel laurette economists debate the euro in 2000:

    From the Archives: Mundell vs. Friedman on the euro | FP Comment | Financial Post

  10. #20
    CNBC: ''Economist - No Way Out for Europe''

    News Headlines

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