Peter Sands, former chief executive of British bank Standard Chartered has released a paper arguing that ditching high denomination bills such as the €500 note, would make life more difficult for individuals evading tax, organized criminals and terrorists.
Sands’ report notes, a depositor with €1,000,000 in the bank could fit their entire account into a small handbag if turned into €500 notes.
-RW
(via WSJ)
OMG! Why, they could do anything! Anything they wanted to!! Scary!
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