COUNTER NOTE PROBLEM

Spain is the EU country with the third highest number of counterfeit notes currently in circulation, just under 20% of the total notes in use. France heads the list with nearly 40% and Italy comes second with 22%. Of the counterfeit notes in circulation throughout the EU, 63% are 50 euro notes, followed by 20 euros notes at 25%, and 100 euro notes at 7%. Just 4% of the counterfeits are 500 and 200 euro notes. Germany's Bundesbank is in favour of eliminating two and one cent coins because of their high production and distribution costs, but German retailers have rejected the idea because they say consumers will not accept the resulting rounding-off of prices.