The ECB is exploring the possibility of rejection of banknotes in €500


BRUSSELS, 15 February. /Corr. Denis Dubrovin/. The ECB is exploring the possibility of rejection of banknotes in denominations of €500. This was stated by the head of the ECB Mario Draghi, speaking in the European Parliament Committee on economic and financial issues.

“The ECB is examining various possibilities of rejection of banknotes of 500 euros for traffic limitation cash, the suppression of the financing of terrorism, organized crime and tax evasion”, he said.

On 12 February, the EU Council of economy and Finance requested the European Commission and the ECB to consider restrictions on the circulation of banknotes in denominations of €500. The European Commission must report its findings to the Council of the EU before 1 may.