Monday , October 18 2021

Charged to cash, Germany says goodbye to the 500 euros ticket


Apart from the criminals, few Europeans will miss the 500 euros ticket, Condemned to disappear progressively from this Sunday. But in a Germany very clinging to cash, this farewell is more painful.

"I prefer cash for the sums that are important, that does not mean I'm doing something dubious," says Rolf, 61, who was questioned in Frankfurt, who paid a used car with cash.

For Rolf, it is "hard to accept" the decision of the European Central Bank (ECB) to abandon the issuance of 500 euros by 17 of the 19 national central banks. Only Germany and Austria banks will continue to print until April 26 to "ensure a better transition," according to the ECB.

Tickets sent to central banks may be exchanged for smaller units and those that are not exchanged will not lose their value.

(Read also: European Central Bank warns of risks of weakness in economic growth)

"You can continue to use to pay or save," said Eva Taylor, ECB spokesman. The volume referred to is modest, since the 500 euros notes only represent 2.3% of the currency in circulation.

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