The 500 Euro banknote nightmare5

• Op-ed, Social and Economic Policy
• 22/11/2016

On May 4th 2016, the European Central Bank has decided to permanently end the production of the €500 banknote by the end of 2018. On the other hand, the circulating €500 banknotes will still remain legal tender and retain their value even after 2018. What’s behind such decision and what are the consequences for the European citizens? Is it feasible for us to have a €500 banknote in our wallet and exchange it within the European Monetary Union? Well, it might depend…