Display of the Euros and the French Francs

March 22, 2012

It’s been 10 years now that France moved to the Euro currency, but still today, we can see remnants of the French francs (previous currency) in our daily lives.

In 2002, they lived with a dual-currency for about a bit less than 2 months, which means, it was legal to pay with either currencies. Even afterward, I guess, but I wasn’t there to witness, some businesses were displaying for a while prices of their products in both currencies to facilitate the conversion for customers. I will call this behavior: currency switch accessibility.

For a country and its population, it is a big thing to switch from one currency to another. In France, some customers still remember living with the “old franc”. In people’s mind, it’s long to really switch and get what it’s the value of products in euros. A bit related to that point,  as a Canadian, I have lived in New Zealand for almost 2 years and I do remember trying to do the conversion between the 2 currencies when I was buying non daily stuff.

Even though I’m totally in favor for a smooth transition from one currency to another by displaying prices in both currencies, I have a question. For how long show we display both currencies? After how many years, this “accessible display” becomes much more annoying than useful? As shown below, in 2012, we still have both currencies on receipts.

French franc (FRF) on bills... - Accessibility

I haven’t found studies answering this question, but I doubt that 10 years after the move, it is still relevant to display both currencies. Have you read anything about that? What do you think?

7 Responses to “Display of the Euros and the French Francs”

  1. It’d depend on a number of things:

    * How fast you want people to switch – having both currencies lets people be lazy
    * How long you want people to remember that your country once had an independent monetary policy (quite important for France I suspect)
    * If you can get funding to run projects to change them all :)

    Tim

  2. Yea, it means one Euro will buy more then one dollar. This is not nsrseeacilly a measure of currency strength. In economics there is something called purchasing power parity’ or PPP which basically shows the reative price of products country by country. The Big Mac Index’ is a a nice basic model which should help you understand it (look it up). Anyways if all currency zones all had equal PPPs i.e. if you coud convert Sterling into Euros or Dollars and purchase the same volume/value with goods the currencies would not likely be the same value. Sterling would normaly be the most expensive (always has been) and the dollar always the lowest value.America has a serious problem though, you are addicted to spending in a much more dangerous way then Britain and Europe are, meaning that your Federal Reserve is destroying your currency by printing money’ (not just through QE either!). When you print more money the value of your dollars go down, this appears as inflation! This is moraly very wrong as it dumps on the poor most, it creates more problems for the Govt as more people go on food stamps etc (yet more spending). Your Govt uses a very manipulated version of CPI which shows your inflation only appears to be 3% (doesn’t sound very much), if you use the older measures its more like 10%.You talk about the dollar being the global reserve currency of the world, that is infact part of the problem. Prior to 1971 economic law dictated that gold (and arguably silver) was the only reserve currency of the world but Nixon decided otherwise! As a cosequence the last 40years have seen the world treat the dollar as if it was gold, central banks worldwide have mountains of dollars in their volts. The thing you have to ask yourself is: what makes these dusty old bits of cloth worth anything it is trust and confidence! The way your Govt and Fed have been behaving since 1913 an especially since 1971 has brought us where we ar today. The dollar will continue to slide as your unsustainable debt grows faster and faster by the day and you (the American people) will be subject to hyperinflation at some point in the next 5years! While us (non-US citizens get dragged down as well! Eventually (before 2020) the US dollar will enevitably collapse as the market is trying to correct itself (as it as been tying to for decades) but the Govtand Fed are distorting the market so it can’t, in the end hperinfation wil destroy the dollar! This happened in Weimar Germany with the Reichmark and in Soviet Russia: one day there is no money in the bank, the next there is no bread in the oven -thousands or millions of Americans are going to die of starvation and if there is a cold winter, it will be worse! You have to learn from history and stop this pig headed but were American nonsense, yes natural economic laws apply to you as well!America has two choices:1. Cowardly continue in an arrogant fashion down the road of destruction. Causing misery for millions. Remember stimulus packages are sticking plasters, they do not help and in factthey make the problem worsein the mid/long term! Obama, Bush all of your presidents do not understand this!2. Cure the disease. Stop the endless spending: America does not need troops in 900bases in 165 different countries. You do not help anyone with so called foreign aid’ the majority of it goes to dictators anyway! Look at Mubarak in Egypyt, Gahdaffi in Libya, you also give 7times the amount of aid to Israels enemies then you do Israel (supposedly a friend) this is illogically insane!You need to top endlessly expanding the federal government a home! You do not need things like a department of education the states did a much better job at a lower cost (less bureacracy). You can not afford the new healthcare system (there are altenatives) ideologically yea it’s great but if it bankrupts the country (which it will) then the consequences of that will mean more suffer!Think about it, it’s a serious problem to say the least but it is not impossibe to solve if there is the will! +2Was this answer helpful?

  3. God, I feel like I should be takin notes! Great work

  4. Dag nabbit good stuff you whippersnappers!

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