Wednesday, November 12, 2003

Possible boycot of 100-euro note by retailers

Het Financieele Dagblad (paid access) reports that Dutch retailers are considering to refuse the 100 euro for payment in shops. Earlier retailers made clear that an increase in falsifications occured. Their suggestion that retailers be reimbursed by the government for the loss they make when accepting a very good falsification of the euro, has been discussed with the central bank and Ministry of Justice. This has not resulted in any agreement, which means that retailers may be advised to refuse 100-euro notes in their shops.