There is another implication: in europe taxes have to be rounded to
higher unit, so if after taxes an item is 1.0001 Euro it must be
rounded to 1.01 .
On 26 Mar 2001, at 7:25, Louis JOURDAN wrote:
> At 15:44 -0600 01/03/25, Michael G. Koerner wrote:
> >I cannot see why the European Central Bank authorized a '2*¢' coin. It
> >strikes me as being BARELY more usefull than the 1¢ coin is here in the
> >USA. Had I been the 'Poo-Bah' in charge of coinage in the Euro zone, I
> >would not have gone any lower than 5*¢.
> The 1 "eurocent" (or ¤¢ ?) coin was necessary to avoid too large an
> inflation at the moment of practical introduction of the new
> currency. Right now, many items have a "square" price tag, eg 12 FRF
> or 85 BEF. When converted, this will become 1,83 and 2,11 ¤.
> Had the 1 eurocent coin not been designed, shoppers would not be able
> to give exact change. Therefore they would convert to even numbers -
> of course of the high side, or even to the 0,05 mark.
> But is it not the same situation in the US ? Many items are priced at
> square number before sales tax, but what you actually have to pay is
> often with 2 decimals and you need or get a number of 1 or 2 cents
> coins. Am I right ?
Leonardo Boselli
nucleo informatico e telematico
Dipartimento Ingegneria Civile
Universita` di Firenze
V. S. Marta 3 - I-50139 Firenze
tel +39()0554796431 fax +39()055495333
http://www.dicea.unifi.it/~leo
