European Central Bank (ECB) is faced with a dilemma these days. The number of
fake euro banknotes is on the rise, with the 50
euro note the preferred choice of counterfeiters. The ECB announced
that the number of fake euro notes seized by authorities had
jumped more than 15 percent in the first six months of the year.
A total of 312,000 dodgy notes were taken out of circulation in the first
half of 2008, the highest since 2003 and up from 265,000 in the first
half of 2007.
The ECB also announced that 36 percent of all seizures were 50 euro notes,
33 percent were 20s and 21.5 percent of recoveries were 100 euro notes.
The funny things is European countries don’t have plans to enhance the security features of their
So, how on Earth are they planning to fight the circulation of counterfeit
bills? I guess they have nothing to complain about.