Who would have thought it? The UK has
withdrawn the
500 Euro note after an investigation by
SOCA discovered that 90% of the notes in circulation were linked to crime. Nicknames the ‘
Bin Laden’ (you know its out there somewhere) the purple note worth $630 is a favourite of the criminally minded due to its ultra-portability and acceptance throughout mainland Europe.
Drug investigations in Latin America time and time again turn up large amounts of currency in this form.
According to Columbian financial regulators 234K Euros was legally imported and declared into the country but trails of 600M Euros being exported were discovered. Whilst money laundering and fraud relating to the Euro is
nothing new the decision to put into circulation such a high note must now be being questioned at the highest levels.
posted by numberstation
on May 13, 2010 -
95 comments
Euro's rise raises 'catastrophic' fears The euro rose on Thursday, topping $1.35 for the first time ever, amid speculation that the United States would not act to counter the dollar's decline.
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"If we remain in a situation without any coordination, we can imagine a catastrophic situation" for the global economy, Finance Minister Hérve Gaymard of France told manufacturers during a factory visit Thursday in Strasbourg
posted by Postroad
on Dec 24, 2004 -
60 comments
What if oil was traded in euros? "Even more alarming, and completely unreported in the U.S. media, are significant monetary shifts in the reserve funds of foreign governments away from the dollar with movements towards the euro. It appears that the world community ... seems poised to respond with economic retribution if the U.S. government is regarded as an uncontrollable and dangerous superpower."
An analysis of the previous link. Apologies to those I
posted by Birichini
on Apr 23, 2003 -
25 comments
Is the currency that oil is denominated in the real reason for the Iraq War? "The Federal Reserve's greatest nightmare is that OPEC will switch its international transactions from a dollar standard to a euro standard. Iraq actually made this switch in Nov. 2000 (when the euro was worth around 80 cents), and has actually made off like a bandit considering the dollar's steady depreciation against the euro. (Note: the dollar declined 17% against the euro in 2002.)"
posted by thedailygrowl
on Feb 11, 2003 -
35 comments
The Euro. I have a question for all of the Euro-zone mefi members. Do regular folks in Europe think the varied governments will come together for the economic benefit of the whole or will regional differences doom the new currency?
posted by CRS
on Mar 26, 2001 -
9 comments
