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Really bad news

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    Really bad news

    "ECB likely to decide next week to scrap 500-euro bill - source

    The European Central Bank is likely to decide at its May 4 Governing Council meeting to scrap the 500-euro ($564) banknote, a source familiar with the discussion said, a move that could add to the ECB's tensions with Germany.

    Germany was an early champion of the 500-euro note which matches the value of its old 1,000 mark note and caters to Germans' traditional preference for cash over electronic money.

    If the ECB does decide to get rid of the largest denomination euro banknote, it is likely to opt for a long transition period, not making old bills obsolete and not forcing people to exchange their bills, a second source with direct knowledge of the issue said.

    The ECB has been looking to stop printing the 500-euro note, despite the objections of Germany's central bank, on concerns that it is also used by criminals and militants to finance their activities.

    Critics argue that the move would not actually curb criminal activity but would infringe on individual freedoms, cutting the amount of cash in circulation.

    Seeking a compromise, the ECB is likely to stop printing and distributing the bill in 2018 but continue to exchange it indefinitely, mirroring the policy adopted by Germany's Bundesbank when the euro replaced the deutschemark in 2002. ($1 = 0.8861 euros) (Reporting by Frank Siebelt and Balazs Koranyi; Editing by Louise Ireland)"

    Source: ECB likely to decide next week to scrap 500-euro bill - source | Reuters


    #2
    I once had 20 of them earned when I was in contract work in a former USSR country.(everything fully legal and above board) When I wanted to deposit them into my Dutch bank account I was questioned like I was a money laundering criminal.

    Comment


      #3
      Swiss bank notes go up to CHF1000

      ATM will give CHF200 note, if you don't ask for small notes.

      I have never been in a Swiss shop that asked for smaller notes, no matter how small the purchase.
      Fiscal nomad it's legal.

      Comment


        #4
        Well that's a bit of a buggeration. It means in future I'll need to take 5x as many bags when I'm doing cash jobs abroad.
        …Maybe we ain’t that young anymore

        Comment


          #5
          Originally posted by Eirikur View Post
          I once had 20 of them earned when I was in contract work in a former USSR country.(everything fully legal and above board) When I wanted to deposit them into my Dutch bank account I was questioned like I was a money laundering criminal.

          Comment


            #6
            Originally posted by AtW View Post
            "ECB likely to decide next week to scrap 500-euro bill - source

            The European Central Bank is likely to decide at its May 4 Governing Council meeting to scrap the 500-euro ($564) banknote, a source familiar with the discussion said, a move that could add to the ECB's tensions with Germany.

            Germany was an early champion of the 500-euro note which matches the value of its old 1,000 mark note and caters to Germans' traditional preference for cash over electronic money.

            If the ECB does decide to get rid of the largest denomination euro banknote, it is likely to opt for a long transition period, not making old bills obsolete and not forcing people to exchange their bills, a second source with direct knowledge of the issue said.

            The ECB has been looking to stop printing the 500-euro note, despite the objections of Germany's central bank, on concerns that it is also used by criminals and militants to finance their activities.

            Critics argue that the move would not actually curb criminal activity but would infringe on individual freedoms, cutting the amount of cash in circulation.

            Seeking a compromise, the ECB is likely to stop printing and distributing the bill in 2018 but continue to exchange it indefinitely, mirroring the policy adopted by Germany's Bundesbank when the euro replaced the deutschemark in 2002. ($1 = 0.8861 euros) (Reporting by Frank Siebelt and Balazs Koranyi; Editing by Louise Ireland)"

            Source: ECB likely to decide next week to scrap 500-euro bill - source | Reuters

            So my Plan B - become a drug dealer - just got slightly harder...
            His heart is in the right place - shame we can't say the same about his brain...

            Comment


              #7
              Originally posted by Mordac View Post
              So my Plan B - become a drug dealer - just got slightly harder...
              MF got 500 euro notes?

              Comment


                #8
                Originally posted by Mordac View Post
                So my Plan B - become a drug dealer - just got slightly harder...
                And my consumption of your grade A plan B is going to be cheapened by using rolled up €100s.
                …Maybe we ain’t that young anymore

                Comment


                  #9
                  Originally posted by WTFH View Post
                  And my consumption of your grade A plan B is going to be cheapened by using rolled up €100s.
                  There are also €200 notes

                  Comment


                    #10
                    Originally posted by AtW View Post
                    MF got 500 euro notes?
                    If he has, they are almost certainly nicked...
                    His heart is in the right place - shame we can't say the same about his brain...

                    Comment

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