20th May 2012

What on earth are we supposed to do about the euro?  All British expats in France have the same worry at the moment.  Do we leave what little savings we have in our French bank, or transfer it (and lose at current exchange rates) to a British bank? Dire warnings from the British Council don't help. In the, previously unlikely but now decidedly possible, event of a total euro collapse, all euro banks would close, cashpoints would be shut, and even border controls would apparently be manned to prevent residents from fleeing the country!  But, if you leave your money in a Euro bank which subsequently reverts to its previous currency, it loses half its value overnight.
Optimists tell me:  don't worry!  The G8 group of nations is meeting as we speak, ready to sort out all this mess. Oh really?  Reports last night said that the current worry re Spanish banks wasn't even up for discussion. So, what to do?  Can't even transfer euros to pounds via my PC at home, as my French bank makes a great fuss and insists you go personally cap in hand to the branch. Certainly keep enough cash under the mattress to tide you over for a few days, but with thoughts of 1930's Germany, do I subsequently buy a large wheelbarrow ready to carry home masses of worthless old French francs?
Him indoors says he always used to be indecisive, but now he's not so sure!

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