This is the reason that you will withdraw the bill of 500 euro…

A significant blow to the…
tax evasion, money laundering, smuggling, and the “hoarding” will bring the withdrawal from circulation of the banknotes of 500 euros, which is planning the European Central Bank (ECB).
The process will happen gradually and is expected to start in 2016. In the first phase, the Ευρωτράπεζα expected to stop printing new bills and feeds the market with banknotes of 500 euro.
Then, gradually and through the banking system, will withdraw the bills that are in circulation. First 500 euro from the coffers of the central and commercial banks, which will be replaced with other of 200, eur 100 or less value, and then those who own businesses and individuals.