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The Fate of Big Bills- a Catalyst for Digital Payments? | Ariadne Plaitakis | LinkedIn

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Yet since 1998 the usefulness of these notes and their links to money laundering have been the subject of recurring European Parliamentary questions aimed at the European Commission, who has consistently denied jurisdiction in such matters, deferring to the ECB. The non-utility of these notes was, for example, highlighted in a 2011 ECB survey among households and companies in 2008 and 2009 that estimated that only around one-third of the 500-euro notes in circulation were used for transaction purposes and that the remainder were hoarded as store-of-value in the euro area or held abroad.

From The Fate of Big Bills- a Catalyst for Digital Payments? | Ariadne Plaitakis | LinkedIn

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