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FRAUD

New €100 and €200 notes go into circulation in Germany

Since Tuesday, Europe's monetary authorities have been printing the two banknotes with new security features.

New €100 and €200 notes go into circulation in Germany
The new 100- and 200-euro notes are being printed as of Tuesday. Photo: DPA

New 100 and 200 bills are supposed to make it more difficult for counterfeiters to do their job.

The issuing of these bills completes the second series of Euro bank notes, the first series which began being issued in 2002, according to the European Central Bank in Frankfurt. The 500 note has not been issued since the end of April.

SEE ALSO: Mixed emotions in Germany as 500-euro note bows out

“The manufacturers of ATMs and cash safes have already been able to borrow the new banknotes for test purposes for the last nine months, so the technical conversion should run smoothly,” assured Johannes Beermann, Chairman of the Bundesbank (German Central Bank).

Last year, six percent of the euro notes in circulation in Germany were 100 notes and one percent were 200 notes, according to the Deutsche Bundesbank.

By far the most frequently counterfeited banknote in Germany has been the the 50 note. A revised version of the orange-brown note was issued in 2017. While the 'state of the art' bill had more security features, Germany's police union remained skeptical that it could still be counterfeited.

SEE ALSO: New €50 note is forgeable, claims German police union

Anyone who immediately hopes for the new notes when withdrawing money in the coming days could, however, be disappointed. The introduction of 2.3 billion revised 100 notes and 700 million €200 banknotes throughout the eurozone will take place gradually.

The old notes are gradually being withdrawn from circulation by the central banks, but first-generation euro banknotes will remain valid.

New security features

Graphic: DPA

The 100 and €200 notes have a “satellite hologram” on the front top right. When tilted, small euro symbols move around the value numeral. There are additional euro symbols in the emerald number.

“These two security features make counterfeiting of the new 100 and €200 banknotes even more difficult,” Beermann recently explained.

The new notes also use security features already found on the twenties and fifties: They also have a “portrait window”. If you hold the glow against the light, the window becomes transparent, showing a portrait of the Greek mythical figure of Europe.

The value “100” or “200” printed as a glossy number on the front changes the colour from emerald green to deep blue when the banknote is tilted.

The basic colours of the notes will not change either. The hundred note is still green, while the two-hundred note keeps its mixture of yellow and brown. The colours are slightly stronger than those of the old banknotes.

The format of the banknotes has also been altered slightly: The €100 and €200 of the new series are just as long as the 50 note. The width of the banknotes, on the other hand, remains the same.

The 500 note, which will no longer be issued, will remain legal tender, however, and will be exchangeable indefinitely.

Vocab

Monetary authorities – (Die) Währungshüter

Released – Herausgegeben

Emerald number – (Die) Smaragdzahl

Imprinted – aufgedruckt

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MONEY

Italy expands €200 payment scheme and introduces public transport bonus

Italy's government will extend its proposed one-time €200 benefit to more people and introduce a €60 public transport payment, Italian media reported on Thursday.

Italy expands €200 payment scheme and introduces public transport bonus

Seasonal workers, domestic and cleaning staff, the self-employed, the unemployed and those on Italy’s ‘citizens’ income’ will be added to the categories of people in Italy eligible for a one-off €200 payment, ministers reportedly announced on Thursday evening.

The one-time bonus, announced earlier this week as part of a package of financial measures designed to offset the rising cost of living, was initially set to be for pensioners and workers on an income of less than €35,000 only.

However the government has now agreed to extend the payment to the additional groups following pressure from Italy’s labour, families, and regional affairs ministers and representatives of the Five Star Movement, according to news agency Ansa.

Pensioners and employees will reportedly receive the €200 benefit between June and July via a direct payment into their pension slip or pay packet.

For other groups, a special fund will be created at the Labour Ministry and the procedures for claiming and distributing payments detailed in an incoming decree, according to the Corriere della Sera news daily.

One new measure introduced at the cabinet meeting on Thursday is the introduction of a one-time €60 public transport bonus for students and workers earning below €35,000. The bonus is reportedly designed to encourage greater use of public transport and will take the form of an e-voucher that can be used when purchasing a bus, train or metro season pass.

Other provisions reportedly proposed in the energy and investment decree (decreto energia e investimenti), which is still being adjusted and amended, include extending energy bill discounts, cutting petrol excise duty and rolling on the deadline to claim Italy’s popular ‘superbonus 110’.

The €14 billion aid package, intended to lessen the economic impact of the war in Ukraine, will “fight the higher cost of living” and is “a temporary situation”, Prime Minister Mario Draghi has said.

The Local will report further details of the payment scheme once they become available following final approval of the decree.

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