Economy
Tuesday, 26 April 2016
The fate of the 500-euro note seems to be sealed. According to one report, the ECB will decide in early May on the corner. However, should the 500 be exchanged indefinitely with the bank.
The 500-euro banknote is final according to media reports on the brink of. of the European Central Bank (ECB) Council will decide how the abolition of the bill is completed at its meeting on 4 May, report the “Handelsblatt” and Reuters, citing financial circles or insider. The ECB would be no comment on the report.
In the Governing Council, which in addition to the six members of belonging to central bankers of the 19 euro countries, according to the report, several scenarios are available. All while providing that the time can be exchanged for 500 Unlimited at the central bank.
More aboutAlso, its status as legal tender keep the bill first. These proposals differ in how quickly the exchange process is organized
ECB president Mario Draghi had noted that the 500 was being used for criminal purposes. “The 500-euro bill is a tool for illegal activities. ” Bundesbank President Jens Weidmann had last but questions whether criminal activity can be contained by the abolition.
Source: n-tv.de
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