1- and 2-euro notes to come?
Greece added its voice to those calling for the European Central Bank (ECB) to substitute 1- and 2-euro coins with banknotes yesterday after Development Minister Dimitris Sioufas requested the changeover to help stem inflationary pressures at home and in the eurozone as a whole. Sioufas said that the ECB should re-examine its position after it recently rejected a request from Greek Euro-MP Nikos Vakalis for the notes to be brought into circulation. «European citizens and consumers are the top priority and not the operational expenses of the ECB,» said Sioufas. Circulation of 1- and 2-euro notes is seen as giving consumers a higher sense of value for the currency, which is blamed for stirring inflation in the 12-nation currency zone since its introduction in 2002. The drachma conversion rate was set at 340.75 to the euro, and consumers complained of prices being rounded up after the changeover.
