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European Central Bank stops issuing banknotes of a class of 500 euros

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rocky
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European Central Bank stops issuing banknotes of a class of 500 euros

Post by rocky on Thu 05 May 2016, 6:03 am

[size=30]European Central Bank stops issuing banknotes of a class of 500 euros[/size]
05/05/2016 11:40 | Number of Views: 223
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Direction Press / Agencies
It announced the European Central Bank, on Wednesday evening, it will depend on the production and issuance of bank notes from a class of 500 euros on the back of "fears that these papers make it easier to do illegal activities."
The bank said in a statement, that the monetary institution's board of governors, "decided to stop permanently for the production of banknotes of a class of 500 euros," with a "stop" on the distribution of information available from this category precautions "up to the end of 2018," noting that the already existing stock "can continue to use "cash currency, explaining, it will retain a permanent value and can be replaced with central banks in the euro zone without time limits.
These banknotes represent only 3% of the common currency established securities in circulation, but they make up 28% of the cumulative value, ie 300 billion euros, according to European Central Bank statistics. The sa

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