Plans to phase out one and two cent coins

Plans to phase out one and two cent coinsA new work programme by the European Commission has included plans to phase out one and two cent coins across the eurozone. The plan was first put forward in 2013 and has now been raised again by the President of the European Commission and is one of numerous initiatives to cut bureaucracy and save money.

The French treasury is considering European plans to phase out one and two-cent coins in the coming years.

Eurozone countries are increasingly adopting rounding policies. In Belgium rounding has been compulsory for all cash payments since December 1st, 2019.

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