Euro banknotes, is on alert throughout Italy: what is happening?

For exactly 20 years the Italian population, as well as the one living in Old World it had to adapt to a new currency, namely the euro, which has community functions and is therefore now shared by over 330 million citizens, especially in the “physical” forms of coins and banknotes. After an initial, foreseeable period of adaptation, the advantages began to be quite evident, both in terms of “convenience”, in the context of transactions between countries, but also linked to a sense of financial stability. Even though it is a young currency, the euro continues to change in its value but also in its form.

Euro banknotes, is on alert throughout Italy: what is happening?

Like all “physical” issues, the euro also has to deal with the problem of counterfeiting, ie the unauthorized reproduction of coins but above all banknotes by third parties. Also for this reason several years ago the European Commission gave the go ahead for the second series of Community banknotes, which are the ones most used today by the population of the continent. The “war” against counterfeiting in fact also passes through banknotes, which feature increasingly refined but never perfect anti-counterfeiting systems. The euro banknotes are also reducing in number, above all due to the need to adapt to contexts digital, especially to tackle tax evasion and money laundering. For this reason, the 500 euro denomination, while remaining 100% valid, is no longer printed by European nations and most likely the 200 euro banknote will also have the same fate. In fact, in 2024 the Iter will begin which will lead to a new series of Community banknotes, which will just as likely be produced in fewer numbers than the current figures, precisely due to a lower need for cash than in the past.

However, it is still too early to decree the end of cash, as an effective tool: we will have to wait at least another decade for the transaction between “physical” to “digital” to become truly perceptible.

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