Europe has stopped printing 500 euro banknotes, the favorite of drug traffickers, corrupt and terrorists

While all other national central banks of the currency bloc ended the issue in January, with Germany and Austria enjoying a grace period of three additional months so their banks and citizens ask the purple offer if they wish but this license expired on April 26.

For what from today, they have stopped printing these high value tickets, one of the highest in the world, only exceeded by the Singapore $ 10,000 (equivalent to about $ 7,350) and the 1,000 Swiss francs ($ 1,010).

Dubbed by its detractors as "binladen", the bill of 500 euros is at the center of deep questions about its widespread use for money laundering, and even for activities related to drug trafficking and terrorism.. In fact, the European authorities have confirmed and demonstrated this usual practice.

Spain has become the euro zone country with the highest circulation of these notes, with 26% between 2006 and 2007. According to data provided by the Bank of Spain and the European Central Bank, its value would be 209,680 million euros. That is 60% of the total mbad circulating in the country. Then came the real estate crisis and it was discovered that the 500 euro banknotes were very tied to the dark images of this market. More than ten years later, last October, the value had fallen to 9 946 million euros, which represents a drop of 85%.

By name, the one of 500 euros is one of the tickets that the greatest value allows to accumulate in the world. This feature, coupled with the fact that it is easier to obtain than Singaporean dollars and Swiss francs, has made it a favorite of corrupt, traffickers and terrorists that deal with large amounts of money outside the legal system.

For example, in Argentina, the repentant Leonardo Fariña -a "valijero" who confessed to having participated in "money laundering" maneuvers of bribes to officials under the governments of Néstor and Cristina Kirchner In his statements, during his tenure The officials demanded that the bribes be paid in 500 euro bills, as they reduced the weight and the volume to be transported.

According to information provided by the US Federal Reserve and the European Central Bank, $ 1 million (100 wads of 100 US $ 100 bills) weigh exactly 10 kilograms, while one million euros in 500 euro bills (20 wads of 100 bills) weigh only 2.2 kg. That is to say that the equivalent of about 1,140,000 USD weighs only 22% of what weighs a million US dollars … That's why it's the favorite of organized crime.

The European Central Bank, which actually took this measure "taking into account the fear that the notes of this denomination may facilitate the commission of illegal activities", explained that although from now on it will no longer be allowed to deliver them to private banks, the 500 euro banknotes will remain legal and can be used as a means of payment. They also announced that there would be no time limit for changing them and badured that they would retain their value.