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The euro banknotes are the banknotes of the euro, the currency of the Eurozone and have been in circulation since 2002. They are issued by the National Central Banks of the Eurosystem or the European Central Bank.[1] Denominations of the notes range from €5 to €500 and, unlike euro coins, the design is identical across the whole of the eurozone, although they are issued and printed in various member states.

While the ECB could complain that these notes were not 'authorized' and are, effectively, counterfeit, there would be no way, other than date, perhaps, to distinguish them from genuine, 'approved' Euro notes.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun Feb 12th, 2012 at 01:23:24 PM EST
[ Parent ]
Notes can be back-dated and serial numbers repeated, if you have access to the central bank's machinery. If the serial numbers are set using movable type, they can even issue German Euro notes.

Of course they would be counterfeit. But then, so is the current Greek government, and the other Eurozone countries don't seem to have any problem with that.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sun Feb 12th, 2012 at 01:41:17 PM EST
[ Parent ]
Exactly! And if the system uses digital image generation it would be even easier. I don't suppose Germany would invade with troops if it seemed like this was what the Greek Central Bank was doing.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun Feb 12th, 2012 at 04:31:22 PM EST
[ Parent ]
Though people in other countries might start refusing to accept Greek money (though probably only coins, as most people don't know how to tell which country issued the bills).
by gk (gk (gk quattro due due sette @gmail.com)) on Sun Feb 12th, 2012 at 04:35:45 PM EST
[ Parent ]
Euro banknotes - Wikipedia, the free encyclopedia

Unlike euro coins, euro notes do not have a national side indicating which country issued them (which is not necessarily where they were printed). This information is instead encoded within the first character of each note's serial number.

The first character of the serial number is a letter which uniquely identifies the country that issues the note. The remaining 11 characters are numbers which, when calculated their digital root, give a checksum also particular to that country. Because of the arithmetic of the check-sum, consecutively issued banknotes are not numbered sequentially, but rather, "consecutive" banknotes are 9 digits apart.

But as noted here, if you control the machinery, printing X-notes (Germany) could be as easy as printing Y-notes (Greece). Leading to widespread distrust of euro-notes and a flight to safety in German euro-coins? Nah, probably not.

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by A swedish kind of death on Sun Feb 12th, 2012 at 05:04:19 PM EST
[ Parent ]
Maybe the ECB would start minting €100 coins... Or just switch to the gold standard. It's after all probably what they've wanted all along. That such mad policies would destroy the economy hasn't stopped them this far.

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid on Thu Feb 16th, 2012 at 07:49:10 PM EST
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