Simple euro debt question for the common man ie me!

Deliverance

Trying to put it as simply as possible:

1: I have a 1000euro debt that I owe to my land lord for rent.

2: Before I pay this rent in euro: The euro collapses and is no more:

3: The currency is now called punt?

4: How much punt do I now owe to my land lord?

Can anyone simply answer this as simply as put, or is that to direct a question to ask?

pebbles21

If the exchange rate say is eur1.00=1.27 punt...then you owe 1,270.00 punts

Zillah

The exchange rate would depend on a number of things. If the euro collapses its not going to be in the next week or two. Even if it did collapse tomorrow, your savings, income and debts would all have the same exchange rate, so nothing really changes.

I think your landlord will want this money long before the euro zone crisis has any effect...

Deliverance

So in theory if I clear all my normal debts that are unavoidable such as rent and esb in advance?

If I 'invest' most of my cash in advance payments to these natural bill collectors of essential services; then i won't have a problem in the future bills as I paid my euros per contractual agreement as such and then some?

If this is the case then I will consider bill investment as a first course of action.

To clarify: I would pay a years rent, a years esb in advance as much as I can afford now with the existing euro as it stands. Does that make sense, would that work?

hmmm

No, you're planning drastic action on the basis of one of many scenarios.

The most likely scenario by far is still the Euro surviving, despite what the Daily Mail hopes.

If the Eurozone collapses and great depression two arrives, we'll all be in the same boat. I'd prefer to have real assets (e.g. foreign currency) rather than prepayments of bills that no-one is going to be much bothered about anyway.

Keeping your options open and diversify is my thinking in these uncertain times. And not panicking.