There are scenarios out there under which the hard e-euro returns! Suppose that given current circumstances, the eurozone begins to unravel. This isn’t a deranged English fantasy…
This view sees the Euro as being unworkable in the long-term, as Europe moves towards argument and fragmentation. In fact, the idea of Barclays buying UBS, Santander buying ING, and UniCredit taking over Nordea, creates an all-out financial and governmental war. As a result, EU member states begin to unravel their Euro commitments, with the Italian Northern League politicians at the forefront of the arguments to get out of the Euro. Soon, the Lira and Deutsche Mark are returned, and all of the banks’ investments are for naught. SEPA becomes a crumbling and expensive idea, which no longer has any relevance.[From swiftcommunity.net]
European business and consumers might want to retain the benefits of lowered transaction costs whilst retaining national control over monetary policy. Thus, people might have euro bank accounts, euro payment cards and euro mobile transfer services that they could use through Europe but there would be no euro banknotes or coins. Countries that decided to print notes and mint coins (for what bizarre reason I can’t imagine) would mint in national currency. The euro wouldn’t disappear, but it would change.
These opinions are my own (I think) and presented solely in my capacity as an interested member of the general public [posted with ecto]