top cx logo
cx logo
Explorearrow down
search icon
Explore
arrow down

France considers EU plan to cut copper coins

Plans to phase out one and two cent coins across the eurozone are included in the European Commission's new work programme

The French treasury is considering European plans to phase out one and two-cent coins in the coming years.

The plan, which was first put forward in 2013, has been raised again by European Commission President Ursula von der Leyen, and is one of numerous initiatives put forward in the Commission's new work programme to cut bureaucracy and save money.

Increasingly, eurozone countries are adopting rounding policies. In Belgium, for example, rounding has been compulsory for all cash payments since December 1, 2019.

When the idea was first mooted, it was estimated that taking the coins out of circulation would save €1.4billion in manufacture, transportation and accounting costs.

At the beginning of 2020, it was estimated that there were more than 36billion one and two-cent coins in circulation.

Not all eurozone countries are in favour of the idea. Estonia recently decided to mint an extra 10million small denomination coins.

Stay informed:
Sign up to our free weekly e-newsletter
Subscribe to access all our online articles and receive our printed monthly newspaper The Connexion at your home. News analysis, features and practical help for English-speakers in France

Resident or second-home owner in France?
Benefit from our daily digest of headlines and how-to's to help you make the most of life in France
By joining the newsletter, you agree to our Terms & Conditions and Privacy Policy
See more popular articles
The Connexion Help Guides
featured helpguide
Income Tax in France 2022 (for 2021 income)*
Featured Help Guide
- Primarily aimed at Britons, covers pensions, rent, ISAs, shares, savings and interest - Overview of online declarations + step-by-step guide to the French printed forms - Includes updates given automatically after this year's site opened
Get news, views and information from France
You have 2 free subscriber articles left
Subscribe now to read unlimited articles and exclusive content
Already a subscriber? Log in now