After 17 years of existence, the production of 500 euro banknotes will officially be closed on January 27th. The European Central Bank had made a decision in May 2016 on its outcome. 17 of the 19 european central banks will stop issuing the largest denomination in the euro banknote range.

The only left countries that will continue to print a €500 banknote are Germany and Austria, but just until April 2019! These 2 countries are still in favour of cash payments, which represent 80% to 85% of their transactions. Germany was...