June 30, 2022

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

For exactly 20 years, the Italian population, as well as those who live in it old world It had to adapt to a new currency, the euro, which has societal functions and is therefore now shared by more than 330 million citizens, especially in “physical” forms of coins and banknotes. After an expected initial adjustment period, the advantages are starting to become fully apparent, both in terms of “relevancy”, in the context of inter-country transactions, but also linked to a sense of financial stability. Although it is a very young currency, the Euro continues to change in its value but also in its form.

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

Like all “physical” versions, the euro also has to deal with the problem of counterfeiting, that is, the unauthorized copying of coins but above all banknotes by third parties. It is also why, several years ago, the European Commission gave the green light to the second series of community banknotes, which are most in use today by the inhabitants of the continent. Indeed, the “war” against counterfeiting also runs through banknotes, which are increasingly distinguished by polished but not perfect anti-counterfeiting systems. Euro banknotes are also decreasing in number, primarily due to the need to adapt to contexts DigitalEspecially to tackle tax evasion and money laundering. For this reason, the 500-euro note, while remaining 100% valid, is no longer printed by European countries, and the 200-euro banknote will most likely have the same fate. In fact, Iter will start in 2024 which will lead to a new series of community banknotes, which will likely be produced in numbers lower than the current ones, due to the lower need for cash compared to the past.

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However, it is still too early to make a decision to end cash, as an effective tool: we will have to wait at least another decade for the transaction between “physical” and “digital” to really be felt.