ECB to de­cide on fate of 500-euro ban­knotes: board mem­ber

The Pak Banker - - COMPANIES/BOSS -

BER­LIN: The Euro­pean Cen­tral Bank will take a de­ci­sion soon on whether to keep print­ing 500-euro ban­knotes, with the ar­gu­ments for do­ing so be­com­ing "less and less con­vinc­ing," a top-rank­ing of­fi­cial said Thurs­day. "We're ac­tively con­sid­er­ing the ques­tion and will take a de­ci­sion shortly," ex­ec­u­tive board mem­ber Benoit Coeure told the French daily Le Parisien in an in­ter­view, when asked about the fu­ture of the euro area's largest de­nom­i­na­tion ban­knote. Au­thor­i­ties in­creas­ingly sus­pected that the notes were be­ing used for il­licit pur­poses.

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