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Bundesbank : deadline for 500-Euro note is extended

The Bundesbank holds the 500-Euro note longer Loyalty than most other Central banks in the Euro area. Up to and including 26. April 2019 the Notes are at the Bundesbank and the Austrian national Bank. The other 17 national Central banks of the Eurosystem, the output of the purple Banknote are already on the 26. January 2019 to finish.

"We have opted for this longer period, because the German and the Austrian Central Bank to bring the net most of the 500-Euro banknotes in circulation", said Bundesbank Executive Board Johannes beermann, the step in Frankfurt.

A forecast of whether the extended period will boost the demand for the largest Euro denomination once again, did not dare to beer man: "It is difficult to predict how the demand for the 500 in the next few months will develop. Because for the first Time a denomination is no longer issued, and remains, at the same time a means of payment,“ said the Bundesbank Executive Board. "May the demand increases, because the 500 has a store of value function."

waiver to the insistence of terrorist financing and the black work

the Council of The European Central Bank (ECB) had at the beginning of may of 2016 decided that the production and output of the 500-Euro-Banknote "towards the end of the year 2018". In the revised second series of the common banknotes with improved security features, there will be no 500 Euro note. This "Europe"-series is 28. May 2019, with the issuance of the new 100 - and 200-Euro Notes completed.

daily mirror tomorrow location for Free order

From the waiver of the 500-Euro bill proponents promise that the financing of Terrorism and black-market work to be pushed back. Whether the work is, however, controversial. The outstanding 500 remain legal tender and is intended to be unlimited-exchangeable.

To a Renaissance of the 500-Euro note, in a later series of Euro banknotes beermann believes: "I suspect that the 500 is not revived after the ECB's governing Council has now made the decision. I do not believe that the barrel is open again.“

this year the demand has risen

According to the decision of the governing Council in may 2016, and the 500 had lost a first appeal. In the years 2016 and 2017, more 500-Euro notes were deposited with the national Central banks as paid. In 2016, this Deposit surplus amounted to 36 billion euros, in 2017 it was 13.2 billion euros.

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cash The Odyssey with the 500-Euro note

Rainer Woratschka

In the case of the Bundesbank, the Trend in 2017 reversed: The payouts of 500-Euro notes predominated in the past year the deposits of the purple Notes at the Bundesbank. In the current year, the Figures show so far, an increase in the demand for 500 Euro notes - both at the Deutsche Bundesbank and in the Eurosystem as a whole. According to the latest Figures available for the payment of surplus to the 500 is in the Euro-Central banks around 3.6 billion euros. (dpa)

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