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Article: PENNY PINCHING NOW OFFICIAL IN BELGIUM.(Brief Article)
- Article from:
- Market Europe
- Article date:
- December 1, 2004
CopyrightCOPYRIGHT 2004 Media Contact Resources, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Belgium is trying its best to help out its consumers. The International Herald Tribune reported recently that the country would stop minting one and two-cent Euro coins. Currently, there are 750-million of these coins in circulation in Belgium, which amounts to approximately 30 percent of all the Euro coins Belgium uses.
The rationale for stopping production is that they're too expensive to maintain, and they're a nuisance for retailers and consumers. The value they represent is too low to support their maintenance costs. And they introduce other expenses into the distribution system. The move, according to The Tribune, will save banks and retailers ...