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***BREAKING NEWS** The new Deutsche Mark banknotes are here**Picture will follow tomorrow***
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[quote:Anonymous Coward 1012738:MV8xMDYyNjU1XzE3NzMwOTg5XzE5OTFFQzRE] [quote:Anonymous Coward 925148] Hi all. My take for now. It Looks like the next Date for a Change to dm2 will Be July 12th. From what i Read in the last days. Its hard for me to Imagine Germany would do it with a haircut right at the curr Change except a real catastrophe happens First maybe they wait for One and that Will Not take much time either im afraid. If dm2 must Be initiated before a Cat Might Be all 1:1. Then the Inflation Starts to get rid of the debt. That would Be the Way with the laest chaos. I'm also sure they will never devalue your personal debt only debt of banks and of course gov. We'll see how it plays out. I still wish nothing at all would change bec any change will involve much suffering but they never listen to my suggestions. Much Love the Swiss friend [/quote] I agree that it would be 1:1. On the inflation part, instead, I am skeptical. Germany does not want inflation. If it wanted inflation, it would just stay with the euro, which will depreciate and will suffer inflation. There would be no problem and there would be no need for a DM2. Instead, if the DM appreciates, as is most likely to happen, Germany could just leave its public debt in euros. Germany would just see its public debt shrink in value--before even starting to pay for it! As the debt shrinks, more money would come into Germany seeking a safe haven. So banks would be able to recapitalize quickly, just because funds would be coming in! Even without government help. Look at the US under Reagan: the fiscal and debt situation was a catastrophe already. Reagan gave tax cuts and sustained deficits. BUT the dollar and the US economy were kept afloat nevertheless because of enormous inflows of capital into the US! This time Germany could pull it off too. If it uses this opportunity responsibly to reduce debt and to create the conditions to remain competitive in the future, the outlook for Germany would actually become quite good! Nothing comparable could be achieved in the rest of euroland. [/quote]
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I'm working at the Deutsche Bank in Germany. Today we delivered 1 container with new Deutsche Mark notes and new coins. I will present a photo from the new banknotes tomorrow morning. The curencychange will be the night from Saturday to Sunday 5/16/2010. On Friday, 19.00 GMT Angela Merkel the germany chancelor, will speach to the german nation.
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