More money, more problems1 and 2 Cent pieces to be discontinued

RTL Today
The European Commission intends to phase out the 1 and 2 euro cent coins in the long term. At least, that is what it is about to announce this Wednesday when presenting its 2020 program, according to the German press agency DPA.

The European executive should therefore be presenting a set of rules which should lead to the end of the copper coins. A 2018 European survey already revealed that a number of member states in the Euro zone were ready to be rid of the 1 and 2 Cent coins.

Rounding up to 5 cents or more would eliminate an expensive item of money production and simplify cash payments. In Belgium, sellers (shops, businesses, associations, etc.) have been obliged since December 1 to round up or down the total amount for all cash payments. As an example: 10.02 is rounded down to 10 and 10.08 up to 10.10).

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