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Claim EuroOK - Euro becomes street currency

Category: Finance:World Finance JUDGED at 100
Owner:85, ddyer@netcom.com
Judge:723, Mario Hilgemeier
due date:2003/01/01

The Claim

This claim will pay YES coupons if either the French Franc or the German Deutschmark ceases to be legal tender or, while remaining legally acceptable, is substantially replaced in everyday use by the Euro or some other currency, on or before Jan 1, 2003. For purposes of the claim, the status quo on Jan 1, 2003 is the only consideration. The claim cannot be closed before that date, or decided based on events that occur after that date.

Judge's Statement

"substantially" could mean any of these in one country:

  • Most automatic teller machines dispense only Euro
  • Former currency is still accepted in stores, but change is given in Euro in a majority of cases
  • Bank account statements are given in Euro only in most cases
  • Electronic (card) money uses Euro only in most cases
  • ...

There might be other sensible criteria. But that is what a judge is for.

If the wording is ambiguous, judgement will be based on the perceived intention of the claim.

The Market

Price Plot for life of EuroOK
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