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A green light from the ECB: Direct issuance of coins in Greece…

The capital controls led to increased demand for use of coins with the result that not enough water circulating in the Greek market – THE ECB has increased this year the limit for issuance of coins to 52,7 million. ευρώΟι Greeks in the midst of the capital controls, they discover the value of the coins, as well as restrictions on cash withdrawals, in combination with the prolonged economic recession, it appears that have led to increased demand for use of coins with the result that not enough water circulating in the Greek market.So in October, as appears by a document of the European Central Bank, the Greek Ministry of Finance appealed to the ECB asking to quadruple the value of the coins that may be issued by our country, in order to “respond to the unexpected increase in demand for coins” as mentioned characteristics in the document.So while Greece had received a permit for the 2015 to issue coins to a value of 13.3 million. euro, the ECB adopted following the request of the Ministry of Finance to increase this year the limit for issuance to 52,7 million. euro.It is noted that the scheme for issuing and management of coins is not identical with that of the banknotes as, in essence, the coins are the asset of each member.A similar permit requested, and received, and Belgium in order to meet the increased demand for coins. For Belgium the amount of issue was increased to 65.8 million eur 0.8 million. euro was initially.Source

The capital controls have led to…
increased demand for use of coins with the result that not enough water circulating in the Greek market – THE ECB has increased this year the limit for issuance of coins to 52,7 million. euro
The Greeks, in the midst of capital controls discover the value of the coins, as well as restrictions on cash withdrawals, in combination with the prolonged economic recession, it appears that have led to increased demand for use of coins with the result that not enough water circulating in the Greek market.
So in October, as appears by a document of the European Central Bank, the Greek Ministry of Finance appealed to the ECB asking to quadruple the value of the coins that may be issued by our country, in order to “respond to the unexpected increase in the demand for coins” such as features mentioned in the document.
So while Greece had received a permit for the 2015 to issue coins to a value of 13.3 million. euro, the ECB adopted following the request of the Ministry of Finance to increase this year the limit for issuance to 52,7 million. euro.
It is noted that the scheme for issuing and management of coins is not identical with that of the banknotes as, in essence, the coins are the asset of each member.
A similar permit requested, and received, and Belgium in order to meet the increased demand for coins. For Belgium the amount of issue was increased to 65.8 million eur 0.8 million. euro was initially.
Source

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