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A&S - B1.2 - EUROPEAN CENTRAL BANK STOPS PRINTING 500-EURO BANKNOTE

10 Questions

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A&S - B1.2 - EUROPEAN CENTRAL BANK STOPS PRINTING 500-EURO BANKNOTE

Created by

@ComplementaryJudgment

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Questions and Answers

What is the decision of the European Central Bank regarding the 500-euro banknote?

To phase it out by 2018

To stop production of it (correct)

To increase the production of it

To make it illegal

What is the main reason for the decision to phase out the 500-euro banknote?

To reduce the amount of money in circulation

To make it easier for criminals to move large amounts of money

To make it more difficult for criminals to move large amounts of money (correct)

To reduce the amount of cash available to citizens

What do money experts welcome?

The production of 500-euro banknotes

The exchange of 500-euro banknotes

The phasing out of 500-euro banknotes (correct)

The use of 500-euro banknotes

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

2018 Signup and view all the answers

Why is the 500-euro banknote becoming popular among criminals?

It is easier to transport large amounts of money in small bags or briefcases. Signup and view all the answers

What can be done with the 500-euro banknote after 2018?

Exchange it at national central banks of EU states Signup and view all the answers

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

Criminals will find it more difficult to move large amounts of money. Signup and view all the answers

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

It will make it more difficult for criminals to move large amounts of money Signup and view all the answers

What is the 500-euro banknote used for by criminals?

To move large amounts of money in small bags or briefcases Signup and view all the answers

How will criminals be affected by the decision to phase out the 500-euro banknote?

They will no longer be able to move large amounts of money Signup and view all the answers

Study Notes

The European Central Bank is stopping production of the 500-euro banknote.
This banknote is becoming popular among criminals, 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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Description

What is the European Central Bank doing? The European Central Bank is stopping production of the 500-euro banknote. This banknote is becoming popular among criminals, 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.