Assuming the story below is true, it could signal the beginning of the end for European monetary union. Maybe even the demise of the EU superstate project as a whole. On the other hand those ECB cash injections last year might just have done the trick.

ERM, yeah...

Referendum on the Lisbon Treaty anyone?

QUOTE
Support for euro in doubt as Germans reject Latin bloc notes

By Ambrose Evans-Pritchard

Last Updated: 1:26am BST 13/06/2008
http://www.telegraph.co.uk/money/main.jhtm...3/cneuro113.xml

Notes printed in Berlin have more currency for bank customers who fear a 'value crisis'
Ordinary Germans have begun to reject euro bank notes with serial numbers from Italy, Spain, Greece and Portugal, raising concerns that public support for monetary union may be waning in the eurozone's anchor country.

Germany's Handelsblatt newspaper says bankers have detected a curious pattern where customers are withdrawing cash directly from branches, screening the notes to determine the origin of issue. They ask for paper from the southern states to be exchanged for German notes.

Full article here. (Telegraph UK)