ECB weigert om bankbiljetten van één en twee euro te drukken (en)

EUOBSERVER / BRUSSELS - The European Central Bank (ECB) has ruled out the possible introduction of one and two euro banknotes.

In a statement issued on Thursday (18 November), the ECB said, "on balance, the negative aspects of introducing very low denomination banknotes outweigh the positive aspects".

The bank cited a lack of demand from the majority of euro zone citizens for low denomination banknotes, along with the "high costs of printing and processing" as reasons not to introduce the one and two euro notes.

There had been a call from some countries, particularly Italy, to introduce these notes.

Italians have found it difficult to adjust to having high denomination coins, as their pre-euro currency, the Lira, was denominated almost exclusively in note form.

Italy - supported by Austria - also felt the high denomination coins acted as a spur to inflation.