Pressure mounts for more euro banknotes

As Greece continues to grapple with one of the highest inflation rates in the European Union, the government yesterday repeated its call for the European Central Bank (ECB) to substitute 1- and 2-euro coins with banknotes, saying that it would give consumers an improved sense of the currency’s value. Development Minister Dimitris Sioufas said he welcomed a resolution signed by 371 European deputies – out of a total of 732 – calling for the changeover. «The highlighting (of the issue) from such a large number of European deputies… is of particular importance and we consider that it will create pressure on European bodies and the ECB,» Sioufas said. The issue had been discussed before in July but was rejected by the ECB, which is responsible for the eurozone’s monetary affairs.