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Pecunia Non Olet: The Case for the €500 Banknote

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image of European Journal of Crime, Criminal Law and Criminal Justice

In early 2016 the Governing Council of the European Central Bank announced that it has reached a formal decision to stop production and issuance of the €500 banknote by the end of 2018. This decision was ostensibly taken due to concerns that the Eurozone’s highest denomination banknote could be used to facilitate illegal activities of both a criminal and terrorist nature. Nevertheless, a host of significant questions remain about how this decision will affect European citizens and their savings, especially against the current backdrop of lacklustre financial growth and continued economic fragility.

Affiliations: 1: Max Planck Institute for Foreign and International Criminal Law, Günterstalstraße 73, 79100 Freiburg im Breisgau, Germany,


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