More and more residents of the euro countries support the abolition of the euro currencies 1 and 2 cents and the compulsory rounding of cash payments to 5 euro cents. In a public but non-representative advisory tour of the desire for the smallest euro coins, 67 per cent of respondents indicated that they wanted to get rid of them altogether, says the European Commission. The euro is the national currency of 342 million citizens.
At the end of this year, the committee will make a decision on the fate of the coins. It is considering submitting a proposal on a rule of rounding for all 19 countries in the eurozone and possibly even stopping the issuance of the one and two cent coins, which were introduced on 1 January 2002.
Belgium already applies on its own initiative the rule according to which the bill is rounded to the nearest 5 cents, as Ireland, Italy, Finland and the Netherlands do. But now it appears that there is a majority in all Euros to cancel those small coins. On average, 72 percent of them saw it as “not helpful” and 71 percent support the introduction of the European rounding rule.
European Union rules require the Commission to conduct regular surveys on the costs and social acceptability of using euro coins. In 2018, 64 percent were in favor of an immediate halt to the euro 1 and 2 cent coins.
The consultative round between the end of September and mid-January was attended by citizens, public institutions, companies, trade associations and consumer organizations. The committee received more than 17,000 responses.
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