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ECB decides to stop printing, issuing 500 euro banknote
Source:Xinhua Published: 2016-5-5 8:32:24
Photo taken on May 4, 2016 shows a 500 euro banknote in Berlin, Germany. The European Central Bank(ECB) announced on Wednesday it would stop printing and distributing the 500 euro banknote around the end of 2018. (Xinhua/Zhang Fan)
Photo taken on May 4, 2016 shows a 500 euro banknote with other euro banknotes of different values in Berlin, Germany. The European Central Bank(ECB) announced on Wednesday it would stop printing and distributing the 500 euro banknote around the end of 2018. (Xinhua/Zhang Fan)
According to a statement made by the ECB, the decision was made due to concerns the banknote could facilitate illicit activities. The issuance of the banknote will be stopped around the end of 2018.
The 500 euro banknotes currently in circulation will continue to be used as a means of payment, said the statement.
Posted in: Economy