Beware Greek euros, travel company warns

 

Check the serial numbers on your euro notes or you could be left with "funny money", a leading British travel company warned yesterday in response to the deepening crisis involving the single currency.

DialAFlight told customers: "Although nobody is quite sure what will happen if Greece is ejected from the euro, we think it is possible that Greek euro notes would have to be used as a temporary currency."

The company urged people to check their euro currency to look for the country of origin: Greek notes begin with the letter "Y" and Spanish notes with the letter "V".

The process of any exit from the euro has been widely discussed in financial circles. Rumours abound of vaults full of "new drachmas" in Athens in preparation for such an eventuality. It is thought more likely, however, that notes held by Greek banks would be officially overstamped before being issued, making them legal tender only in Greece. The value of "Greek euros" would fall sharply against the "real" currency.

This is the process that accompanied the break-up of the Soviet Union; the transition from the rouble to individual currencies involved overprinting existing notes before new bills were printed. But DialAFlight is going beyond this scenario, by suggesting that euros currently in circulation could be suspect.

The managing director of DialAFlight, Peter Stephens, said the warning on its website did not arise from any official advice, but from speculation within the country. "We have been taking about what happens if Greek defaults," he added. "It looks increasingly obvious that Greece will have to bail out. Whether the rest of the eurozone would accept notes issued in Greece, I don't know."

Mr Stephens suggested that holidaymakers could either spend such notes locally or "take Greek euros to banks in another country and swap them there".

PROMOTED VIDEO
Have you tried new the Independent Digital Edition apps?
Travel
ebookHow to enjoy the perfect short break in 20 great cities
Independent Travel Videos
Independent Travel Videos
Simon Calder in Amsterdam
Independent Travel Videos
Simon Calder in Giverny
Independent Travel Videos
Simon Calder in St John's
Independent Travel Videos
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

ES Rentals

    iJobs Job Widget
    iJobs Travel

    Recruitment Genius: Group Sales Manager - Field Based

    £21000 - £22000 per annum: Recruitment Genius: Located on the stunning Sandban...

    Guru Careers: Email Marketing Specialist

    £26 - 35k (DOE): Guru Careers: An Email Marketing Specialist is needed to join...

    Recruitment Genius: Tour Drivers - UK & European

    Negotiable: Recruitment Genius: This is a fantastic opportunity to join a is a...

    Old Royal Naval College: ORNC Visitor Experience Volunteer

    Unpaid voluntary work: Old Royal Naval College: Join our team of friendly volu...

    Day In a Page

    Greece elections: In times like these, the EU has far more dangerous adversaries than Syriza

    Greece elections

    In times like these, the EU has far more dangerous adversaries than Syriza, says Patrick Cockburn
    Holocaust Memorial Day: Nazi victims remembered as spectre of prejudice reappears

    Holocaust Memorial Day

    Nazi victims remembered as spectre of prejudice reappears over Europe
    Fortitude and the Arctic attraction: Our fascination with the last great wilderness

    Magnetic north

    The Arctic has always exerted a pull, from Greek myth to new thriller Fortitude. Gerard Gilbert considers what's behind our fascination with the last great wilderness
    Homeless Veterans appeal: Homeless in Wales can find inspiration from Daniel’s story

    Homeless Veterans appeal

    Homeless in Wales can find inspiration from Daniel’s story
    Front National family feud? Marine Le Pen and her relatives clash over French far-right party's response to Paris terror attacks

    Front National family feud?

    Marine Le Pen and her relatives clash over French far-right party's response to Paris terror attacks
    Pot of gold: tasting the world’s most expensive tea

    Pot of gold

    Tasting the world’s most expensive tea
    10 best wildlife-watching experiences: From hen harriers to porpoises

    From hen harriers to porpoises: 10 best wildlife-watching experiences

    While many of Britain's birds have flown south for the winter, it's still a great time to get outside for a spot of twitching
    Nick Easter: 'I don’t want just to hold tackle bags, I want to be out there'

    'I don’t want just to hold tackle bags, I want to be out there'

    Nick Easter targeting World Cup place after England recall
    DSK, Dodo the Pimp, and the Carlton Hotel

    The inside track on France's trial of the year

    Dominique Strauss-Kahn, Dodo the Pimp, and the Carlton Hotel:
    As provocative now as they ever were

    Sarah Kane season

    Why her plays are as provocative now as when they were written
    Murder of Japanese hostage has grim echoes of a killing in Iraq 11 years ago

    Murder of Japanese hostage has grim echoes of another killing

    Japanese mood was against what was seen as irresponsible trips to a vicious war zone
    Syria crisis: Celebrities call on David Cameron to take more refugees as one young mother tells of torture by Assad regime

    Celebrities call on David Cameron to take more Syrian refugees

    One young mother tells of torture by Assad regime
    The enemy within: People who hear voices in their heads are being encouraged to talk back – with promising results

    The enemy within

    People who hear voices in their heads are being encouraged to talk back
    'In Auschwitz you got used to anything'

    'In Auschwitz you got used to anything'

    Survivors of the Nazi concentration camp remember its horror, 70 years on
    Autumn/winter menswear 2015: The uniforms that make up modern life come to the fore

    Autumn/winter menswear 2015

    The uniforms that make up modern life come to the fore