Brussels, 24/08/2004 (Agence Europe) - Like Finland, Belgium and the Netherlands, before it, Germany too may decide to gradually phase out the one and two centime coins currently in circulation.
This information comes from Wolgang Soeffner, Head of the Bundesbank for coins and notes and interviewed in the Düsseldorf based Handelsblatt newspaper. Germany might decide to introduce a system rounded up to multiples closest to five centimes, a method that would lead to the de facto elimination of one and two centimes in Euros, which have become useless. This method was launched by Finland and could also be applied by the Netherlands on 1 September when the National Bank of Belgium. A consensus appears to be developing in favour of such a formula (EUROPE 7 August p 3). Mr Soeffner informed Handelsblatt that they could imagine such a a solution being used in Germany.