GEAB 114
Euro-diversification
As part of our forecasts mentioned above on the probable reform of the common currency, we recommend people to “diversify their euros” simply by placing part of any liquid savings in euros in banks from various countries of the monetary zone. With online banks, all this is transparent, extremely quick and free of charges (for now), with no forex fees and so on. That is to say that this solution does not imply more complications than if you had your money only in one bank, but it will avoid you being caught off guard, like many Greeks have been, in case overnight “the euro of your country” is worth half of its value, or if capital check temporarily prevents you from transferring your savings elsewhere.
However, this recommendation is not urgently needed: if such a euro reform were to come into being, it would not be before two or three years, which gives you ample time to carefully choose foreign institutions to place your money in.
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