Wednesday, December 27, 2006

Penny wise, Euro foolish

I notice Slovenia will join the Euro zone on 1 January. Last time I went to Slovenia I needed several currencies to get from Cork to Portoroz via Stansted, Treviso and Trieste. Now I would just need two with the UK holding out. Why oh why do they pick such stupid exchange rates though - 239.640 tolars to the Euro. Would rounding it to 240 really make that much difference?

When Ireland joined it was 0.787564 punts/Euro - 1.55% short of a nice round 0.8 but the Slovenia gap is an order of magnitude less at 0.15%. The increase in hassle and resentment caused by a ratio only a Brussels econocrat could love is something you'd think they'd have learned to avoid from the last conversions.
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