BofA analyst Athanasios Vamvakidis says the ECB should retire the €500 note. Some argue that as...


BofA analyst Athanasios Vamvakidis says the ECB should retire the €500 note. Some argue that as much as 90% of the bills are held by organized crime. In theory then, the ECB could set a deadline for all €500 notes to be either deposited or exchanged upon proof of legitimate acquisition. Presumably, the ill-gotten portion would not be redeemed, would become worthless, and the difference between the bills that were not redeemed and their original face value would be a profit for the central bank.

Comments (3)
  • Director one
    , contributor
    Comments (62) | Send Message
     
    Great idea has there been another interview yet since he floated that thought............last scene floating down the Rhine face down....
    9 Apr 2013, 03:23 PM Reply Like
  • Energysystems
    , contributor
    Comments (2084) | Send Message
     
    Not a fan of "checking your papers", and this seems a bit like a Nazi-esque shakedown.
    9 Apr 2013, 03:30 PM Reply Like
  • Storm Warning
    , contributor
    Comments (173) | Send Message
     
    What an appalling sense of justice.
    9 Apr 2013, 03:54 PM Reply Like
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