€1 and €2 Notes
Italy, Greece, Austria and Slovenia have asked several times to introduce lower denominations of euro notes. The ECB has stated that "printing a €1 note is more expensive (and less durable) than minting a €1 coin". On 18 November 2004 the ECB decided definitively that there was insufficient demand across the Eurozone for very-low-denomination banknotes. On 25 October 2005, however, more than half of the MEPs supported a motion calling on the European Commission and the European Central Bank to recognise the definite need for the introduction of €1 and €2 banknotes. However the European Central Bank is not directly answerable to the Parliament or the Commission, and has ignored the motion.
Read more about this topic: Euro Banknotes
Famous quotes containing the word notes:
“Speech is an arrangement of notes that will never be played again.”
—F. Scott Fitzgerald (1896–1940)