ECB halts issue of Euro 500 notes

by JJP

ECB Euro UK

Posted on Sunday, May 8, 2016

 

The European Central bank has called a halt to the issuance of Euro 500 banknotes because of the threat that such large denominations assist criminals in transferring large amounts of cash easily which makes illegal transactions untraceable.

 

The UK Government asked its banks to stop handing Euro 500 notes in 2010 for this reason.

 

The ECB says that it will stop issuing these notes in 2018 but they will continue to be legal tender and will always retain their value.


About Jeremy Plimmer

Jeremy Plimmer has 35 years of experience in the security related print and packaging industry working originally as sales development director for manufacturers of passports, high security print and labels and more recently as a consultant. He is a graduate member of the Chartered Institute of Marketing, a Fellow of the Institute of Minerals, Materials and Mining, chairman of the West Midlands Packaging Society as well as vice chairman of the East Midlands Packaging Society.

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About the foundation

The Product & Image Security Foundation is a non-profit making trade association which was originally formed under the name of Label & Tag Security International (LTSI) in the early 1990's.

Today it operates with more than 100 members in 27 countries and is the premier international forum for manufacturers, suppliers and users of labels, tags, packaging, identification systems, materials and systems for any form of product security, brand image protection or product traceability applications and technology.