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A Euro For Your Thoughts

July 18, 2014

A dozen or so years ago, most of Europe gave up their individual currencies in favor of the common Euro. With a stroke of the pen, gone were the Franc, Schilling, Lira, etc. A good thing? Not so fast!

Here in Italy, the introduction of the Euro literally doubled the price of everything overnight. A pizza used to be 10,000 Lira (about $5 US); it became 10 Euro (about $13.60 today).

The problem for would-be expatriates is best explained by a simple example. A liter of cheap gas costs 1.76 Euro. Multiply that by 3.78 (liters to gallons) and you get 6.65 Euro per gallon of gas. Ah yes, now you must apply that pesky exchange rate: today it is 1.36188. What you get in the end (lterally) is $9.06 (yes, nine dollars and six cents) as a price per gallon of gas paid in U.S. dollars. Still feel like driving anywhere? It might be less expensive to fly by heliocopter!

A Euro for your thoughts? No thank you; actually we can’t afford them right now. Ask us again later if the Euro collapses to par with the dollar….

Read author Allen E. Rizzi’s latest books available at Amazon.com

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