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Thursday, January 29, 2009

Zim shows the way to euroland

This could a model for the UK as it gradually adopts the Euro:

Zimbabweans will be allowed to conduct business in other currencies, alongside the Zimbabwe dollar, in an effort to stem the country's runaway inflation. The announcement was made by acting Finance Minister Patrick Chinamasa.

BBC southern Africa correspondent Peter Biles says the Zimbabwean dollar has become a laughing stock. A Z$100 trillion note was recently introduced. Until now only licensed businesses
could accept foreign currencies, although it was common practice.

(from the BBC)

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