B1.2 European Central Bank Stops Printing 500-Euro Banknote

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Questions and Answers

What will the European Central Bank stop producing?

  • The 500-euro banknote (correct)
  • The 100-euro banknote
  • The 200-euro banknote
  • The 1000-euro banknote

What is the 500-euro banknote popular among?

  • Money experts
  • Businesses
  • Criminals (correct)
  • Governments

When will the 500-euro banknote be phased out completely?

  • 2020
  • 2021
  • 2022
  • 2018 (correct)

What do money experts say about the decision by the EU's main banking authority?

<p>It is a good decision (B)</p> Signup and view all the answers

What will criminals find more difficult to do with smaller banknotes?

<p>Move large amounts of money (A)</p> Signup and view all the answers

What can be exchanged at national central banks of EU states?

<p>The 500-euro banknote (A)</p> Signup and view all the answers

What is the main banking authority of the EU?

<p>The European Central Bank (A)</p> Signup and view all the answers

What is the 500-euro banknote used for?

<p>Moving large amounts of money (B)</p> Signup and view all the answers

What is the main purpose of phasing out the 500-euro banknote?

<p>To reduce crime (A)</p> Signup and view all the answers

What do money experts welcome?

<p>The phasing out of the 500-euro banknote (B)</p> Signup and view all the answers

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Study Notes

  • The European Central Bank has announced that it will stop producing the 500-euro banknote.
  • This banknote has become popular among money launderers, drug traffickers, and terrorists, who move large amounts of money in small bags or briefcases.
  • The 500-euro banknote will be phased out completely by 2018. It can be exchanged at national central banks of EU states at any time after this date.
  • Money experts welcome the decision by the EU's main banking authority. They say that with smaller banknotes criminals will find it more difficult to handle large amounts of money without being noticed.

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