The bill of € 500 may be taken out of circulation. The European authorities are concerned that the bill because of its high value is too attractive to terrorists and criminals.
The EU finance ministers on Friday to the European Commission asked it to examine with the European Central Bank. The ECB on the banknotes.
Attacks Paris
the Council of Ministers endorsed an action plan drawn up by the European Commission following the attacks in Paris. The plan comes largely from French case. There is also a possible restriction on cash payments. The German minister Wolfgang Schäuble called for a harmonized ceiling of € 5,000. In France the limit is now at € 1,000.
Abdeslam Salah, one of the perpetrators of the attacks, incidentally, used a credit card to his hotel room near the French to pay capital
Anti-Money laundering Directive
Volgens Jeroen Dijsselbloem, who chaired the discussions, EU countries go even further than the plan in some ways. As ministers have agreed to incorporate the already planned adjustment of the Anti-Money Laundering Directive rapidly into their national law.
Data from the ECB appears that notes of € 500 last year accounted for almost 30% of all the cash. It is one of the most valuable banknotes in the world. In some countries it is known as bin Laden. “The risk is that banknotes with high value and large amounts of cash to facilitate the financing of terrorism,” said Dijsselbloem.
A thousand mark
the € 500 banknote is mainly made possible by the Germans. The money loving Germans struggled to distance themselves from their Tausendmarkschein. After the outbreak of the Greek crisis showed the note also quite popular with Greeks who did not want to leave their money in the bank.
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