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Restaurant Parity: When US/EU Pricing Equalizes

Sidewalk Menus, Bruges
Sidewalk Menus, Bruges
Photo: Clogozm/Flickr

The euro is having a little meltdown (something about economic woes and bailouts of Greece that are way, way outside of the scope of Eater), and the Wall Street Journal's Real Time Brussels blog is theorizing that since the dollar and the euro "are headed for parity," we're approaching a situation known as Restaurant Parity: "That’s the moment when prices on menus in, say, New York and Brussels amount to the same thing–in other words, you can just ignore the currency symbol." And then they do math, using complex formulas that take into account the exchange rate, tipping customs, and state and local taxes. We're close!

· Breaching Restaurant Parity [WSJ]