As it became known, the Central Bank of the Euro zone announced that from Friday, April 26, throughout the European Union completely stop printing banknotes are €500, reports “Russian conversation” with reference to “RBC”.

According to the information received, the decision on gradual withdrawal of banknotes from circulation was adopted by the European Central Bank in 2016, and in January 2019, banks in most European countries stopped their release.

Note that Germany and Austria were the only European countries to continue by special permission to print such notes until April 26.

From the words of the Board member of the German Federal Bank Johannes Beerman, the delay in resolving this issue due to the fact that the German Bundesbank has released 70% of all ever printed banknotes in €500, so the Central Bank needed time to rebuild during the transition to the banknotes of a smaller denomination.

Beerman drew attention to the fact that this bill was very popular with those who prefer to keep money in the safe, since large bills conveniently compact to collect a large amount. Also, it was a €500 prefer to make a monetary gift in honor of a large celebration.

However, popular was bill and different kinds of scams. It is often forged, and in the end it was decided that due to the increased risk of crime easier to stop its release.

Earlier, the “Russian conversation” was reported about the intention of the European Central Bank to update the look of banknotes in denominations of €50, which will then be put into widespread use.