So, Wednesday started out VERY EARLY (well, in comparison to our 9:00 and 9:30 lectures we have been having). We boarded the bus at 7:30 am and got on the road to Frankfurt, a city in Germany about 2.5 hours away. After a long bus ride with little sleep, we pulled up to the Deutsche Bundesbank (DB), the German bank. (**Just a little background to understand--there are 27 national states that are part of the European System of Central Banks (ESCB) and 13 of those countries have adopted the euro, making them part of the Eurosystem. The euro was introduced in 1999 as a "virtual currency" and set the standards for a common monetary policy for Europe. In 2002, the euro was converted from a "virtual currency" to an actual currency made up of banknotes and coins.
We then had a short powerpoint presentation on the role of the bank within the Eurosystem. The aim of the DB is to maintain price stability in Germany by working with the European Central Bank (ECB), which is also located in Frankfurt. After our lecture was over, we then went to the Geld Museum (Money Museum) located in the bottom of the Deutsche Bundesbank. The museum showed the evolution of money from cattle to the present euro. Included in the museum were all the different countries' coins in the Eurosystem and many other interactive displays. Finally, we shopped in the Money Museum store and then left!
During our hour long break in the city center of Frankfurt, which is known as "the New York of Germany," we pondered shopping but the pouring down rain was quite the deterrent. Instead, most of us ran into the closest restaurant we saw which happened to be a Thai Restaurant...not what you would expect to eat in Germany! But, the Thai food was incredible and just what we needed!
We then walked a couple blocks (still raining at this point) to the European Central Bank (ECB) that I mentioned above. Getting into the bank was harder than getting in to any of the other places we have gone yet. Individually, we had to show our passports to the lady at the front desk and then be escorted onto the elevator. We then had 2 lecturers speak to us about the role of the ECB and the euro. Although there was quite a bit of overlapping from our visit at the Deutsche Bundesbank, I did learn a few interesting things. First of all, the euro has a common theme throughout all of the banknote denominations. The front of the bills have an illustration of windows to symbolize openness. And, the back of the bills show bridges that symbolize unity. Also, when first looking at the euro banknotes, one might think they were playing with Monopoly money--they are ALL different colors and sizes. I had never really thought about the reasoning behind this design but we were told that the bills are different colors and sizes so that slightly blind people can still distinguish between denominations. Finally, if you were to look closer at the euro coins, you would notice that they are all very different, even within the same denominations. Our speaker informed us that the front sides of all the coins are the same but the backs are designed each of the 13 countries that have adopted the euro. And, every year, each country gets to design another coin and even a different design on every denomination of coin! I thought this was really neat that the euro enables these 13 countries to have a fluent monetary system but still allows creativity!
Anyway, now that I am a complete nerd for talking about coins for a few paragraphs (although I have to because I have to show Drew that I am interested in coins...at least for his sake), I will continue. We left the ECB and ran around in the rain trying to shop but not getting very far. After visiting an incredible chocolatier and a few little stores, we ran back to the bus and all headed to a German restaurant. We had a VERY German dinner that started with an incredible potato soup and then some type of dark meat, a creamy herb sauce, and potatoes. Then, we ended the night off with a delicious blueberry crepe-ish dessert!
We didn't get home to the Chateau until very late (about 11:30 pm) and the rain was a bummer. But, all in all, it was an educational day!