Greece presses demand for one-euro notes
(ATHENS) - Greece urged the European Central Bank on Tuesday to replace one and two-euro coins with notes as a measure to curb inflation in the eurozone.
"The European Central Bank should reconsider its position, because there is common conviction that one and two-euro notes are necessary for smooth market operations, and their circulation can help combat price increases," Greek Development Minister Dimitris Sioufas said in a statement.
Sioufas, who made a similar call in October 2005, said one and two-euro notes are necessary to make people "appreciate the currency's value".
"The best interests of European citizens are the ultimate priority (here), not the operational expenses of the ECB, " the minister said.
Greece decided to repeat its proposal after the European Union issued a special euro coin this week to commemorate the 50th anniversary of the Treaty of Rome which founded the European Economic Community, now known as the European Union.
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