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Production of banknotes of 500 euros was ceased by Eurozone countries

From Friday, April 26, Austria ceased to issue banknotes of 500 euros. In January this year, the other 17 Eurozone countries did it. Banknote of 500 Euro, which are now in the hands of citizens are not withdrawn from circulation and can be used and exchanged without any restrictions. It was decided to stop as it promoted illegal activities associated with money laundering, tax evasion and terrorist financing. The 500 euros weigh just 2.2kg and easily fits in a bag from the laptop.

Germany was not happy regarding the refusal to print banknotes with a value of 500 euros. The European Central Bank will put into circulation new banknotes of 100 and 200 euros from 28th May , which are more secure than the old banknotes of these denominations. The new banknotes will have the same security features than the new banknotes of 50 Euro, which was released in 2017. Also a portrait of Europe in the form of a hologram and watermark will be placed.

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