Photo: finclub.net the EU will no longer print the 500 Euro

From 27 April the new banknotes of 500 euros will not be issued. The decision was taken to prevent operations at otmani money.

The European Union stopped the production of banknotes of the largest denomination – 500 Euro. Friday, April 26, was the last day when such notes were printed, according to DW.

The decision on gradual withdrawal of banknotes from circulation was adopted by the ECB in 2016, and in January 2019, the Central Banks of most countries of the Eurozone (17 of 19) stopped production.

The Central Banks of Germany and Austria by special permission continued to print such notes until April 26.

From 27 April the new banknotes of 500 euros will not be issued, according to the website of the Central Bank of Austria. Member of the management Board of the Deutsche Bundesbank Johannes Beerman also confirmed the discontinuation of the largest Euro banknotes.

Now on the banknotes of 500 euros accounted for 2.3% of all banknotes in the European currency in circulation.

As reported, the issue of such banknotes decided to stop due to the fact that bills such of high value are often used in operations associated with money laundering, tax evasion and terrorist financing.

Banknotes of 500 euros can be easily and discreetly transported. Million euros in these notes weighs 2.2 kg. The same amount in denominations of $ 100 is the highest denomination of US currency – weighs six times more.

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