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“We do not take Euros”

Jan 04 2002 15:12

Simon Scrapmetal

Imperial College Union makes its statement on the European Single Currency.

They're Euros (but don't tell ICU)

Your correspondent was wandering through college today when he spotted a suspicious looking notice on the door of the ICU newsagent on the main walkway. A large Euro symbol with a bar through it adorned it right in the centre. Why?

It is now only a few days after the launch of Euro notes in the 12 countries that make up the 'Euro zone' and major British retailers have already signalled their intention to accept the fledgling currency in payment for goods. With so many of our close neighbours using the new currency, it makes commercial sense for them to do so - as well as putting subtle pressure on the UK government to make up its mind about monetary union.

A few hours later Simon was unlucky enough to stroll into the City & Guilds College Union office (which worryingly seems to be still bustling with activity despite the registry-imposed Christmas break) and find an Imperial College Union 'Financial Information Note' thrown at him by a suspicious looking C&GCU Treasurer. "I don't know what it is, but it doesn't look important," was the only comment forthcoming as he dived back into a mass of papers. Unlike the worryingly undedicated Treasurer Simon actually bothered to read the piece of paper. It was boring. But it did say (in big letters in the middle of the page) "We do not take Euros".

Which leaves Simon asking - why? Imperial College is an international type of place and your correspondent does have to idly wonder whether there might actually be some demand for it.

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Discussion about ““We do not take Euros””

The comments below are unmoderated submissions by Live! readers. The Editor accepts no liability for their content, nor for any offence caused by them. Any complaints should be directed to the Editor.

1. me

Jan 04 2002 16:18

i would have thought it was obvious...

1) finance already makes various requests as to how everybody works, in an effort to keep bank charges down to a minimum (and so more money for us students/less for Nat West)

2) It costs money to change currency, plus mucking around changing prices displayed to reflect current rates. Unless of course the union's suppliers want to be paid in Euro... of what ever demoninations they have in the till.

3) shops would have to have extra tills... and more training for staff to recognise the multitudinous different coins. (btw. many small shops here in germany have stopped using the D-Mark already... i wonder why....)

of course i am only guessing the actual reasons, but that's usually what this forum seems to be about ;-)

2. Oliver Pell

Jan 04 2002 19:12

Educated guesswork is not welcome here! Uneducated vague comments are the rule!

But unfortunately it seems to be a rule that is broken more and more often. I suspect that it would not make commercial sense (strongly suspect...) to accept Euros, however it might be interesting to see whether students were interested in the union accepting them anyway.

3. Andy Heeps

Jan 04 2002 19:47

It's obviously because ICU is a good, common-sense Union that believes in KEEPING THE POUND and our own sovereignty...

Where did I put that glass of port?

4. Neil Madhvani

Jan 05 2002 15:24

Bah! It'll only be a matter of time before the UK joins the Euro - and the sooner the better :-)

5. Stuart Davis

Jan 06 2002 14:37

I think the Euro is a very good thing as well, and we should join as soon as possible.

However, while the UK stays out, it makes perfect sense for ICU not to accept them. They are not legal currency here and the money involved with getting the outlets to accept them could be better spent elsewhere. On clubs for example. Or keeping the bar prices down.

6. Buffy

Jan 06 2002 19:14

Or keeping CCUs running!

7. Stuart Davis

Jan 07 2002 13:36

Or even keeping CCUs running, if that's what ICU decides should happen.

8. Stuart Davis

Jan 07 2002 13:39

Still, as Oliver said, it would be interesting to see whether students think we should accept Euros. It's a policy decision, after all.

9. Oliver Pell

Jan 07 2002 15:11

It should probably be pointed out that CCUs do not cost anything 'to run'. ICU grant money funds activities and services for the students but the actual cost of 'running' a CCU is basically zero because all of the people involved are volunteers.

10. angel

Jan 07 2002 15:17

...though that does mean you forget the cost of staff at ICU which directly or indirectly allow CCU activities to occur.

11. Oliver Pell

Jan 07 2002 16:21

But the staff are there anyway. So I don't see how anyone could suggest that CCUs are responsible for any of ICU's staffing costs. In fact, by their nature, CCUs tend to receive less support from ICU staff than most clubs and societies.

12. Editor

Jan 08 2002 11:57

I have removed the last posting that claimed to be from Oliver Pell... because it wasn't really from him.

Closed This discussion is closed.