The Monnaie de Paris (Paris Mint) suggested replacing the paper banknotes of 5 euro denomination with the coins of the same value, Le Point reports.
By virtue of this move the euro area may save up to 10 billion euros, Chief Monnaie de Paris Christophe Beaux believes. Beaux explained that coins serve longer than paper banknotes which would result in lower expenses for money production. Two years ago the Monnaie de Paris proposed to refuse from paper money, but the ECB declined the offer.
In May, the European Commission outlined possible scenarios for 1 and 2 euro cent coins. Some experts suggested to withdraw the coins from circulation.
