Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-02-21-Speech-1-032"
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"en.20050221.12.1-032"2
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"Mr President, every professional criminal organisation in Europe must have jumped for joy at the European Central Bank's recent decision to double its printing of 500-euro banknotes. This year alone, 190 million more of the highest-value banknotes in the world will hit our streets, and a suitcase full of these is worth seven times as much as a suitcase filled with 100-dollar bills.
In today's electronic world, banks do not need large denomination notes: they are of value only to criminals. Why else did 10% of all the euros issued at its launch suddenly disappear into Russia? Why is it still the currency of choice for the Russian mafia? Why did Hussein invoice Iraq's secret oil sales in euros when he was trying to avoid sanctions? Last year, the number of counterfeit 500-euro notes rose by ..."@en1
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