Pecunia Non Olet : The Case for the €500 Banknote

Murphy, Christopher

doi:10.1163/15718174-24042100

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Pecunia Non Olet : The Case for the €500 Banknote

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Murphy, Christopher
Criminology, Max Planck Institute for Foreign and International Criminal Law, Max Planck Society;

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https://doi.org/10.1163/15718174-24042100
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Citation

Murphy, C. (2016). Pecunia Non Olet: The Case for the €500 Banknote. European Journal of Crime, Criminal Law and Criminal Justice, 24(4), 340-353. doi:10.1163/15718174-24042100.

Cite as: https://hdl.handle.net/11858/00-001M-0000-002E-39BE-1

Abstract

In early 2016 the Governing Council of the European Central Bank announced that it had 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.