EC considers proposal to withdraw 1 cent and 2 cent coins
The European Commission is considering a proposal to phase out 1 cent and 2 cent coins, an EU document showed, in what would be a cost-saving move as the coins’ production and handling costs often exceed their face value.
The possible measure is included in the EU executive’s working programme for this year, released on Wednesday, and is scheduled for the October-December period after an evaluation of the use of the two smallest euro denominations.
The commission is considering introducing rounding rules that would apply in all EU states so that consumers could pay without using 1- or 2-cent coins. This policy is already in place in the Republic.
You may be interested
Confrontation between Dendias & Cavusoglu at the press conferencemakis - Apr 15, 2021
Diplomatic etiquette was cast aside in an astonishing joint press conference between Greek Foreign minister Nios Dendias and his Turkish…
Russia suspends flights to TurkeyPanos - Apr 15, 2021
Russia will restrict flights to and from Turkey from April 15 to June 1 due to a rise in COVID-19…
EU member-states agree to issue Covid-19 travel certificatePanos - Apr 15, 2021
European Union countries today formally agreed to issue Covid travel certificates as a step towards reopening tourism this summer with…