Towards the end of the coins of 1 and 2 centimes?

In a report released on Friday, the 2022 Public Action Committee suggests putting an end to small 1 and 2 cent coins in the euro zone. "We could start in the short term by putting an end to the circulation of coins of 1 and 2 cents, as has been done in Ireland, Finland and Belgium, for example," says this group of thirty experts, charged in October 2017 by Prime Minister Edouard Philippe to submit proposals for reforms to reduce public spending. In addition to the suppression of small change, the committee proposes "to remove cash, checks and tax stamps for tax and social payments within two years", while making the acceptance of dematerialized payments mandatory (card banking, telephone, transfer). The combination of its measures would be a source of "significant savings" according to the committee, which however can not quantify the said savings.

The government distanced itself from the committee's proposals

The application of all the proposals of the public action committee 2022 would bring about a drastic drop in public spending (30 billion euros), as the the Les Echos newspaper revealed in June. Quoted by Les Echos, the government is very cautious about the committee's proposals. The small change, the nightmare of consumers and traders, should still have a bright future ahead of it.