EU BOOSTS CONTROLS ON FAKE EUROS
January 1st, 2009
BY KEITH NUTHALL
A LEGAL obligation has been proposed by the European Commission to force European Union (EU) banks and other credit institutions to check the Euro banknotes and coins they receive for counterfeits before putting them back into circulation. Also, assuming EU ministers and the European Parliament agree, a special counterfeit-check procedure would be established for any transfer of notes and coins from national governments and central banks to EU institutions and agencies.
ENDS
A LEGAL obligation has been proposed by the European Commission to force European Union (EU) banks and other credit institutions to check the Euro banknotes and coins they receive for counterfeits before putting them back into circulation. Also, assuming EU ministers and the European Parliament agree, a special counterfeit-check procedure would be established for any transfer of notes and coins from national governments and central banks to EU institutions and agencies.
ENDS
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.