One and two-cent coins could soon be a thing of the past.
The European Commission is assessing whether the need for the tiny coins could be reduced by requiring all cash payments in the Eurozone to be rounded, as they already are in Ireland and other countries such as Sweden, Finland, Denmark and Hungary.
A 15-week consultation is currently underway with consumers and national governments.
Grace Bolton is Head of Press with the European Commission office in Ireland and says “The European Commission is conscious that the cost of producing one and two cent coins is almost twice as high as their value, they’re also very fiddly for the consumer to use”
She adds “By late 2021 the commission will complete an assessment to decide two things, first whether all cash payments in the Eurozone should be rounded and second whether one and two cent coins should officially be discontinued”.
