|Riots in Athens|
However, holidaymakers should take prudent precautions and above all do not skimp on travel medical insurance. Earlier today it emerged Greece is intending tap into the UK and German Holiday cash spend and to raise local VAT to possibly 25%, not all over the country but specifically restricted to the wealthier holiday islands including Mykonos, Santorini and Rhodes.
Currently a Greek euro is worth exactly the same as any other euro – and will be accepted on all parts of the continent. Should Greece pull out changes could occur, but it is unlikely that these would be applied retrospectively to all “Y” labelled notes
Bear in mind that although any rioting or civil unrest is mainly confined to Athens, shortage of banknotes on Greek Islands ( shopkeepers, Hotel and Bar owners are not banking currency but hoarding cash.. so few notes available for ATM machines )
Taking cash in and out of the UK
10,000 Euros equals £7,152.64 Pounds Sterling taken as £1 GBP equals 1.40 EUR
You must declare cash of €10,000 or more (or the equivalent in another currency) if you take it between the UK and any non-European Union (EU) country.
- notes and coins
- bankers’ drafts
- cheques of any kind (including travellers’ cheques)
- Download and fill in form C9011 or get a copy at the port or airport.
- Make a copy - if you fill in the form at the port or airport, it automatically makes a carbon copy.
- Leave a copy in the drop-box at the port or airport and keep the other to show custom officers.
PenaltiesYou could face a penalty of up to £5,000 if you don’t declare your cash or give incorrect information.
Your declared cash can be IMMEDIATELY seized by customs officers if they have reasonable grounds to suspect a crime.
They can keep the cash for 48 hours - after that they need a court order.
There are Greek euros and German euros – how do you spot them?
All euro banknotes have a one-letter, eleven-digit serial number located on the back at the top right and bottom left corners, which indicates which country issued the note.
While all euros are backed by the European Central Bank – the serial numbers prefixed with X may be regarded as most secure because they are issued by Germany.
N is also a good prefix, because these come from Austria. P, L, U and Z prefixes may also be favoured because these are issued by the authorities in Holland, Finland, France and Belgium.
If you share widespread fears that the euro cannot last in its present form, you might want to avoid notes with the prefixes F, G, M, S, T or Y. These are issued by Malta, Cyprus, Portugal, Italy, Ireland and Greece respectively. However, holidaymakers should not be unduly concerned by these differences at present.
Currently a Greek euro is worth exactly the same as any other euro – and will be accepted on all parts of the continent. Should Greece pull out changes could occur, but it is unlikely that these would be applied retrospectively to all “Y” labelled notes Within days expect banks to limit the amount on ATMs to euro 3000 or less. Simply they are running out of notes as few are banking cash takings!!!
JULIAN BRAY +44(0)1733 345581, Journalist, Broadcaster, Aviation Security & Operations Expert, Travel / Maritime & Cruise Industry, EQUITY, NUJ, Broadcast COOBE ISDN ++44 (0)1733 345020 (DUAL CODEC) SKYPE: JULIAN.BRAY.UK e&oe Cell: 07944 217476 or iPhone 0743 530 3145 www.aviationcomment.com # # # VENDOR 10476453 http://feeds.feedburner.com/BraysDuckhouseBlog