Many companies featured on Money advertise with us. Opinions are our own, but compensation and
in-depth research determine where and how companies may appear. Learn more about how we make money.

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

By Denver Nicks
July 5, 2016
Peter Dazeley—Getty Images

The European Central Bank on Tuesday unveiled a design for the 50 euro note, which will replace the old design of the most widely counterfeited denomination of the currency.

According to Reuters, use of the euro has quadrupled in the last 15 years, as European Union citizens, particularly in Germany and Austria, have spurned electronic payments in favor of cash over privacy concerns and distrust of storing money digitally. Around 80% of all purchases in Germany are completed with cash, compared to less than 40% in the U.S.

Many in the EU feared that when the central bank discontinued the 500 euro note in May—a note nicknamed the “Bin Laden” for its association with shady activities—it was a sign the EU was moving toward eliminating cash. The new 50 euro note is seen as a recommitment by the European Central Bank to continue to promote and support the use of cash.

[Reuters]

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

EDIT POST