Talk:Luxembourgish franc

From Wikipedia, the free encyclopedia

	Luxembourgish franc is within the scope of WikiProject Luxembourg, a collaboration intended to improve the coverage of the Grand Duchy of Luxembourg at the English language Wikipedia. If you would like to participate, you can visit the project page..
Start	This article has been rated as Start-Class on the quality scale.
High	This article has been rated as High-importance on the importance scale.

	This article is part of the WikiProject Numismatics, which is an attempt to facilitate the categorization and creation of accurate and formal Numismatism-related articles on Wikipedia. If you would like to participate please visit the project page, where you can join and see a list of open tasks to help with.
B	This article has been rated as B-Class on the quality scale.
Mid	This article has been rated as mid-importance on the importance scale.

[edit] 1999

I have reverted the date back to 1999. SCADPlus: Monetary law of the participating Member States (transition period and period from 1st January 2002) says:

As from 1 January 1999 the currency of the participating Member States will be the euro. The currency unit will be one euro, divided into one hundred cents.

[...]

TRANSITION PERIOD (1st January 1999 - 31 December 2001)

During the transitional period, the euro will be divided into the national currency units according to the conversion rates. Any subdivision thereof will be maintained. It will therefore be possible to use the single currency under its own name, but also in the denominations and units of the former national currencies, which will have become expressions of the euro.'

Therefore the LUF was just a bizarre multiple of the euro. LUF/BEF was no longer present in exchange boards from 1999 onwards. Of course, LUF/BEF notes and coins were legal tender, but they were in fac "euros in disguisse".

Had not been the transition period like this, nobody would have been able to pay in euros in non physical form (debit/credit card, bank transfers, money order...) in Luxembourg in 1999, which was not the case.

Also, the Belgian francwiki states:

Like the French franc, the Belgian/Luxembourgian franc ceased to exist in 1 January 1999, when it became fixed at 1 EUR= 40.3399 BEF/LUF, thus a franc was worth 0.024789 €. Old franc coins and notes lost its legal tender status in 28 February, 2002.

13:24, 3 February 2006 (UTC)Thewikipedian 14:23 UTC+2

The euro was a financial fiction until 2002. To imply, as this article currently does in its opening section, that the franc ceased to circulate in 1999 is simply wrong and must be corrected.

The previous version said that the LUF ceased to exist as an international currency from 1999, but it also stated that LUF was a multiple of the euro. LUF coins and notes remained legal tender until 2002:

The franc was the currency of Luxembourg from 1854 until 1999, when it became a subdivison of the euro (1EUR = 40.3399 LUF). A franc was subdivided into 100 centimes. . One franc was subdivided into 100 centimes. Between 1999 and 2002, the franc was officially a subdivison of the euro (1 euro = 40.3399 francs), although the euro did not exist in coin or banknote form.

In the euro transition period between 1999 and 2002, non physical payments could be conducted in EUR or LUF. Franc notes and coins were used while euro notes and coins were produced.

Furthermore, between 1999 and 2001 it was not possible to convert from LUF to FRF or another EMU subunit directly. Firstly, the amount in LUF had to be converted into EUR, then back into FRF.

Other wikis agree with this view. See Franc, Deutsche_Mark, Austrian schilling, Dutch gulden, Belgian_franc, Finnish markka, French franc ,Portuguese escudo,Irish pound...

From the european commission euro switchover archives:

January 1, 1999 The euro became the currency for 11 Member States (Belgium, Germany, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland).

* The national currencies became `non-decimal' sub-units of the euro : conversion rates between each of them and the euro irrevocably fixed           ESCB, Member States
* The euro remains a scriptural currency (banknotes and coins not yet available)                 
* Single monetary policy for the euro-zone              European System of Central Banks (ESCB)
* Various legislation came into force, notably on the legal status of the euro          Member States, European Investment Bank, Commission
* New government debt is issued in euro, and many financial markets switch to euro: foreign exchange, share and bond markets.

See also http://www.europarl.eu.int/workingpapers/econ/114/chapii_en.htm Thewikipedian 15:24, 18 February 2006 (UTC)

"·How about this form of words?" --> no objections. It explains clearly both the legal and practical situation of the LUF between 1999 and 2002. :-) Thewikipedian 11:07, 1 March 2006 (UTC)

[edit] "Luxembourgish" vs. "Luxembourgian"

I've moved the article to Luxembourgish franc. I saw in the history that it has been batted to and fro a bit.

I've only ever heard the term "Luxembourgian" from British people who, not knowing the adjective, have made one up. In the 12 years I lived in Luxembourg (predominantly among English-speaking people), I never heard this term used. The closest debate I ever heard on the matter was "Luxembourgish" vs. "Luxemburgish".

Google gives 2,710,000 results for "Luxembourgish" but only 62,100 for "Luxembourgian". Mibblepedia 13:19, 8 July 2006 (UTC)

Google hits are skewed; the Luxembourgish language accounts for every hit in the first three pages (I stopped there, since it didn't seem useful going on; feel free to do so yourself). By comparison, sources that reflect usage of the English languages are, for the most part, agreed that it's 'Luxembourgian': Merriam-Webster, Cambridge Dictionary, Dictionary.com, etc. Bastin 10:17, 4 August 2006 (UTC)