Fresh call for euro notes
Greece urged the European Central Bank (ECB) yesterday to replace 1- and 2-euro coins with notes as a measure to curb inflation in the eurozone. «The European Central Bank should reconsider its position, because there is a common conviction that 1- and 2-euro notes are necessary for smooth market operations, and their circulation can help combat price increases,» Development Minister Dimitris Sioufas said in a statement. Sioufas, who made a similar call in October 2005, said 1- and 2-euro notes are necessary to make people «appreciate the currency’s value.» «The best interests of European citizens are the ultimate priority (here), not the operational expenses of the ECB,» the minister said. Greece decided to repeat its proposal after the European Union issued a special euro coin this week to commemorate the 50th anniversary of the Treaty of Rome, which founded the European Economic Community, now known as the European Union. (AFP)
