by Simon Black
Well, it finally happened.
After months of innuendo, the European Central Bank (ECB) announced last night once and for all that they will no longer produce the 500 euro note.
The 500 euro note is the highest denomination of physical currency in the euro zone, and they’ve been talking about phasing it out for quite some time.
(The next highest is the 200 euro note, then 100. These will still be produced… for now.)
Of course, according to their reasoning, only bad people who engage in criminal activity, tax evasion, and terror financing use 500 euro notes.