Very generally, even in a “stereotypical” way, there are many indications that the Italian population, as a whole, seems to be less susceptible to changes, especially those that are significant and that affect everyone, like money. This is a “strong” consideration and certainly not an indicator, but it has led a large portion of the population to have greater difficulties adjusting to the euro. Exactly 20 years later, it seems that the single currency has been accepted, but like any other, the process of development is always underway, which leads to the disappearance of euro banknotes.
This is not “official” news, but the logical consequence of a trend now widespread: physical money is generally considered “consumable” compared to electronic money, and is preferred for a purely practical matter: bank transfers, cards, and ATMs are an already rooted and more compatible reality with regard to coins. And banknotes that, by their nature, checks “get away” very easily.
Moreover, the ECB’s intention is precisely to limit, albeit gradually, the number of banknotes in use. Moreover, changes are already underway, such as the process of production of banknotes which has led to the abandonment of the production of the 500-euro banknote, which is used above all by illegal trade and is therefore of little use for the rest of the citizens.
“Euro banknotes will disappear”: the news shocks everyone
Although the European Central Bank has long reported that all 500-euro banknotes will remain valid in perpetuity, up to 200-euro can “disappear” from production starting with the next series of EU banknotes to be announced starting from The year 2024. The reason is similar to that shown for 500 euros now, this is to reduce the amount of banknotes, especially those of high denominations, and to keep, at least in the near future, the “small” and “medium” notes.