Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
I once started off a discussion about the EU in a class with the €500 notes, and a story problem about money laundering. A million US dollars in $100 bills weighs just over 10 kilos, in €500 notes less than 1/10th that.   Did they pay attention that day......

Being amused aside, I wonder what impact the retirement of of euro notes above €50 would have on tax evasion. It's a well know fact in Spain that if you don't want to pay the tax, you pay in cash rather than electronically. Reducing the size of the largest note available for these transactions would increase their cost.  Would that drive down tax evasion, and drive up government revenue?  If so, would that put any sort of dent in government deficits?

And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg

by ManfromMiddletown (manfrommiddletown at lycos dot com) on Sun Jan 27th, 2013 at 09:38:37 AM EST

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