BEUC warns of euro ‘rip-off’ as launch day approaches

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Series Details Vol.7, No.34, 20.9.01, p26
Publication Date 20/09/2001
Content Type

Date: 20/09/01

CUSTOMERS risk being out of pocket when euro banknotes and coins enter circulation on 1 January, consumer lobby BEUC will warn next week.

A survey of its members showed concerns that they fear consumers will be ripped off because prices are being rounded up out of line with exchange rates.

Worst offenders were Belgian clothes shops and French one-star hotels and restaurants. Other culprits include French and German railways SNCF and Deutsche Bahn which have both hiked prices to take into account euro changeover costs. BEUC said consumers will also face problems when they try to exchange old notes and coins for the euros. In Holland, only customers will be allowed free exchange at banks, and in Italy a maximum amount for cost-free exchange will be applied.

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