They stop producing 500 euro in 2018 – Radio Sunday

The European Central Bank (ECB) announced that stop producing 500 euro at the end of 2018, a provision was not without controversy. Today that bill amounts to $ 19 thousand Uruguayan pesos. The European Central Bank (ECB) is not planning to abolish the cash, despite the suspicions raised by the decision of Governing Council of the institution to stop definitively printing 500 euro notes from 2018, has warned Yves Mersch, board member of the ECB .

according to the authorities, the banknotes in circulation will always maintain their value and may be changed in the banks the focus of the Eurosystem for an unlimited period of time.

While on the other hand, the Bundesbank has managed to avoid images of citizens getting rid of her purple notes, and according to his statements to the international media. “what had to decide now was not whether we deshacíamos of 500 euro, but how we did it”

“the 500 euro banknotes are seen increasingly as a instrument of illegal activities , and it is in that context that we are considering action on that front, “said Draghi after the committee on Economic and Monetary Affairs of the European Parliament on 15 February.

the ECB reported that permanently halt production of 500 euro and exclude it from the new series of banknotes Europe. It may be redeemed at any bank center of the euro zone.

The negative interest rates have no impact on the Cash but in the bank accounts e , Fuest added. The governing council , composed of 25 people, needed only one simple majority to approve the disappearance printed purple ticket with motifs of modern architecture the twentieth century, 160 by 82 millimeters, the largest of all. Germany there is a strong preference for Cash among the population, which saves significant amounts of money at home.

The creation of ticket 500 euros it was decided under the pressure from several countries , including Germany , very attached to payments cash and a bill of 1,000 marks (a sum equivalent ) who disappeared when she started circulating the single currency, the 1 January 2002 .