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The last days of the 500-Euro Note

before October 26. April 2019 the 500-Euro notes for the German Bundesbank and the Austrian national Bank. Thereafter, the output is terminated. The notes in circulation but remain legal tender and is intended to be unlimited-exchangeable.

The German and the Austrian Central Bank brought most of the 500-Euro notes in circulation. The other 17 national Central banks of the Euro system had the issue already on 26. January 2019 terminated.

The European Central Bank (ECB) had decided on the abolition of the 500 Euro note in may 2016. ECB President Mario Draghi wanted to euros with the elimination of the 500-bills make it difficult, especially Criminals, the financing of crimes such as terrorism or illegal work. This had nothing to do with a reduction of cash, had Draghi said at the time, in the run-up to the decision. In the governing Council, a simple majority was enough for the decision.

Extraordinary hoarding activities did not exist, said Bundesbank Executive Board Johannes Beermann, the news Agency DPA. The demand in Germany since the beginning of the year stable.

can be contained Whether or not with the abolition of the bill criminal activities is, however, controversial. As has been argued by experts that money laundering over a long predominantly on a cashless basis through front companies.

the German Central Bank revealed in its monthly report from March to the end of the 500-Euro Note skeptical. It lacked more on the "empirical evidence" that through measures such as the abolition of large-denomination bills, or the introduction of cash limits in fact, tax evasion and other criminal activities effectively combat could be, it means.

Without the 500-Euro-Version, the "Europa"series on the 28. May 2019, with the issuance of the new 100 - and 200-Euro Notes completed.

Worldwide, the 500-Euro Note was one of the banknotes with the highest value. In the US, the scale goes only up to 100 dollars. Switzerland has a 1000 franc notes, and these will be maintained according to the Swiss national Bank. (nag)

Created: 24.04.2019, 12:28 PM

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