at the end of December 2018 were approximately 131 billion Euro and Cent coins to the value of about 29 billion euros in circulation, such as the Deutsche Bundesbank has calculated. This huge amount wants to reduce the new EU Commission is apparently. The goal is to be found in the proposals of the EU Commission to cut red tape.

plans for the abolition not entirely new

plans for the abolition of the coins small-cents amounts are not new. Already around two years ago, the EU Commission pointed out that some countries in the Eurozone, rounds, the prices of Goods to the full five cents. The official reason: The spare production costs of small coins. In addition, the effort to Count, Store and Transport away the case, citing the "SZ" from the EU-Commission's report. Not to forget: The citizens in many EU member States are mostly against the mini coins.

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some politicians have been supporting for some time elimination plans. Oliver Krischer, Deputy Faction leader of the Greens in the Bundestag, holds the coins for "completely unnecessary", as the "time" reported. Krischer refers to countries such as Finland, no longer dominate the small coins at all. Also, in his view, the high cost, however, speak. To do this, the effort for the trade. He needs to keep coins in stock, the small roll of money and Bank. So there are economic reasons that don't necessarily speak in favour of the smallest coins to maintain. But the issue is complex.

What the Federal citizens of the smallest coins?

In 2018, a survey by the market research Institute, the Splendid Research that 58 percent of all Germans are in favour of the abolition of the disputed coins revealed. With 71 percent, almost two-thirds of all respondents defendants, in their wallet is too little space for the small money masses to be.

What other countries in the Eurozone do?

1 - and 2-Cent coins, it no longer exists in all of the 19 Euro member countries. Belgium, Ireland and the Netherlands round prices in super markets, at 5-Cent amounts to or from.

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What is the law?

is The Euro in the countries of the Eurozone, the legal means of payment. Citizens can insist that they Seem to change entirely in coins. Likewise, merchants have to accept Cash. So nobody is bringing his piggy Bank to Pay in the supermarket, retailers will need to accept but only up to 50 individual coins.

How many of the small coins are in circulation?

The proportion of 1 - and 2-Cent coins in the Euro-Zone at the end of 2019 at just under 50 percent. The proportion is constantly increasing, because many customers will not spend the money received in small coins.

Who wants to know it exactly, the orders by the Federal Ministry of Finance to mint money on the Internet. The data range from the year 2002 up to 28. January, 2020.

What is the cost of producing the coins?

It is difficult to quantify the exact. In the cost of Material flow and a Prägekosten, and wages as well as packaging and Transport. The Federal Ministry of Finance, told FOCUS Online on request, that "the production cost in the case of the 1-Cent coin is the only coin above the face value". This means that The Federal Minister of Finance pays for your embossing on it. In the case of the 2-Cent coin, the look different, here the production costs lie below the imprinted nominal value.

What are the amounts of metal are needed?

For the smallest coins in need of the mints, especially steel and copper. The Federal Ministry of Finance called the end of 2018 Figures, Then alone for One - and two-cent coins used metal quantities were within a period of three years, with 417 tonnes of copper and more than 7000 tons of steel.

What are the consequences of abolition for the consumer?

consumer advocates worry about higher prices, because many of the super would try markets, to be rounded up.

The retail sector is the abolition of the coins, however, critical. The handelsverband Deutschland – HDE e. V. – gives as reasons for his negative attitude: the dealer would have to do without for the abolition of the coins "on the prices that end in 99 or 98 cents, to continue to ensure price clarity". The HDE also warns that after the elimination "of the smallest cent coins is a need for more of the 5-Cent coin," according to.

Basically, HDE-payment expert Ulrich Binnebößel explains: "If the small is to be abolished money, then the only Europe-wide. Otherwise, such actions only lead to confusion for the customer and more expense for the merchants.“

critics say that in the medium term, cash will disappear completely. The is covered?

The CSU is the plans of the EU Commission, in a first opinion is strictly opposed to. Markus Ferber, member of the European Parliament, the party argued, in the "SZ" as follows: "What the Commission intends, must let all the alarm bells." It should be prepared "not the entry in the cash exit," says Felber. The EU Commission has, according to the previous information, however.

another factor that is fuelling the corresponding fears: In many EU countries there are maximum limits for cash payments. In Poland, for example, citizens may only pay up to 15,000 euros in cash, in Greece the limit is 500 Euro. The reason for these restrictions: the authorities want to complicate the Washing of black money.

Therefore, there is also in Germany, the upper limits for anonymous cash payments: you are at 10,000 Euro for Bank transactions. In the case of anonymous gold transactions, the value fell to 1. January 2020 even at 2000 euros. It comes to higher amounts, be recorded with the identity of the customer.

With FOCUS Online money compare (display) a daily allowance comparison in 2020: Here are the Top interest rates

back up, the ECB Will ban eventually cash?

For years, the European Central Bank reduced its key interest rate to 0 percent. Banks to pay negative interest rates. You provide wealthy private clients are increasingly in a statement.

if lowering the ECB in times of a massive economic crisis, their interest is entirely in the minus area, many would like to plunder private customers to your accounts – from fear, to be from their banks, with penalty interest charged. One such potential "Bank runs" to exclude, has hired the International monetary Fund (IMF) thought experiments, cash will be completely abolished. Because only in such a scenario, Bank customers are not able to clear their accounts easily.

On this sharply criticized the Consideration of the fear of politicians and Central banks could make cash at some point to be a discontinued model is based.

This is currently not a target of the ECB. How do I put 20,000 euros?

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Because the Counting is too tedious: the EU wants to 1 - and 2-Cent coins, FOCUS Online/Wochit abolish Because the Counting is too tedious: the EU wants to 1 - and 2-Cent coins to abolish it Where occurs in the Corona-Virus everywhere? Real-time map shows the spread of the disease, FOCUS Online/Wochit Where occurs Corona Virus everywhere? Real-time map showing the spread of the disease

mbe Date Of Update: 30 January 2020, 01:01