ECB withdraws 265,000 fake euro banknotes

Tourism

The European Central Bank said Wednesday that 265,000 fake euro banknotes were withdrawn from circulation during the first half of the year.

This compared to 300,000 during the first six months of 2006 and 265,000 during the last half of last year, with the bank insisting that the number of counterfeit euro notes was very small. The number of genuine euro banknotes in circulation during the H1 of 2007 averaged 11 billion.

The European Central Bank said that 97% of counterfeits recovered in the H1 of 2007 were in the 13-member eurozone. About 3% came from European Union states that are not euro members and only a very small number from the other parts of the world. The 50-euro-note was the most counterfeited banknote in the H1 of 2007, accounting for around a half of the total counterfeits found in circulation, the eurozone central bank said. (monstersandcritics.com)

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.

Support the BBJ

Travel