Euro cents 'set for the scrap heap'
2 July 2004, BRUSSELS - Belgium is planning to phase out one and two euro cents in the autumn, it has been reported.
2 July 2004
BRUSSELS - Belgium is planning to phase out one and two euro cents in the autumn, it has been reported.
According to several Flemish newspapers, the national bank, consumers group TestAchats, supermarkets, banks, trade associations and the federal government, have all backed the move.
A working group to thrash out the details met for the first time on Thursday at the national bank.
Sources said that an agreement was struck to remove the smallest euro coins from circulation.
A green light to the plan, which must have the approval of the European Central Bank, would round prices to the nearest zero or five cents.
A price ending in three, four, six or seven cents would be rounded to five cents and prices with the value of one, two, eight or nine cents would end in zero.
[Copyright Expatica 2004]
Subject: Belgian news