Back to pesetas

Spain town reintroduces peseta to boost economy

A small town in northern Spain has decided to reintroduce the old Spanish currency - the peseta - alongside the euro to give the local economy a lift.

Shopkeepers in Mugardos want anyone with forgotten stashes of the old cash at home to come and spend it.

Source: BBC News



to boost -

alongside -

(to give stg) a lift -

a stash (of cash) / to stash -

a purchase -

a cash register -

a slump -

to get round to doing stg -

a hardware store -

staggering (adj) -

to slip (down the back of a sofa) -

to tap (reserves) -

Do you miss the peseta?

Do you think the euro was a good idea?


Anonymous said…
I don't miss at all the peseta. But when I translate into peseta some today's prices I get shock about it value and the peseta's time seems to be very far away. It's like come back to my grandma's time, althoug se did new the euro.
Montse said…
Hi, Graham. I’m really glad to see your new posts. I don’t miss the peseta but I recognize that we’ve had to pay a great price for the change to the euro. Suddenly, everything became more expensive because we made 100 pesetas the same as 1 euro and then we started to pay more for anything.
I think that they’ve had a great idea in Mugardos. I don’t think that it is going to finish with the crisis there but, at least, it’s a different way to encourage to people buy things.
Graham said…
Hi Agatha,

I have forgotten all about the value of the peseta. I had been in Spain for just a few months when we changed to the Euro.

If I converted prices into pounds, it was easier for me to go from pesetas to lira and then to pounds than to go straight from pesetas. The peseta to pound calculation was too complicated.

I don't MISS THE PESETA AT ALL. But when I CALCULATE SOME OF today's prices I get A shock about ITS value and the TIME OF THE PESETA seems to be very LONG AGO. It's like GOING back to my grandma's time, although she DID KNOW the euro.
Graham said…

Let's see how long I last this time.

I see the benefits of the Euro but I am pleased that the UK won't be joining.

It's incredible to think how much "extinct money" is out there. It would solve a lot of problems if all the money was collected.

.. it is going to PUT AN END TO the crisis.
Jesús said…
Like the firs comment, I don´t miss the peseta. For me it´s very easy to travel over Europe without thinking all the time you have to exchange money. It is confortable. In adition, although this is the main reason for many people, euro helps many countries to improve their economies, and of course Spain is one of those countries. I agree with you regarding how much money is still in pesetas. I suppose I could be rich with that amount of money.
Graham said…

How can you still support the Euro with all that is GOING ON now? It is CRUMBLING BEFORE OUR VERY EYES.

Without full political union, countries with such different economies cannot share the same currency. The UK was very WISE not to JOIN the train.

Spain has benefitted from membership of the EU but since GETTING RID OF the peseta, everything has got much more expensive.

But I do agree that it is HANDY when travelling.

For me it´s very easy to travel AROUND Europe without thinking you have to exchange money ALL THE TIME. It is HANDY. In ADDITION, AND this is the main reason for many people, THE EURO helps many countries to improve their economies.....