FX.co ★ Euro banknote helps terrorists

Recently, experts are very keen on detecting and disrupting the sources of revenue for terrorist networks. Financial flows regulated by terrorist organizations are amazingly massive. Terrorists of today are not regular religious bigots; they are shrewd businessmen who make fat profits trading oil, weapons, drugs, and people. Big business means big money, and big money implies high-denomination banknotes. This is the main reason why the €500 note was tied to terrorism.

The European Union officials express deep concern about the current situation. The EU Commission intends to undertake a careful investigation into the suspiciously high number of the notes in circulation in the eurozone. The necessity for such revision was revealed after a number of actions to choke off financing for terrorists at the territory of the European Union. According to the unveiled data, the 500 euro banknote is really the note of choice among criminal elements from ordinary counterfeiters to the world’s largest terrorist organizations.

The situation has become grave and calls for a strong coordinated response. The EU commission will cooperate with Europol and the EU’s police agency. Mario Draghi, European Central Bank president, announced that he cannot exclude the possibility of curtailing the use of €500 banknotes as an emergency measure.