Struck by capital controls, the Greeks can no longer withdraw from Monday that a few dollars a day from banks. Banknotes and coins of the route summary to get into the pockets of citizens.
Who produces banknotes and coins?
The printing of euro banknotes is the responsibility of the European Central Bank (ECB), which delegates this task to the 19 national central banks in the currency bloc. The latter can choose to print their own tickets or appoint private companies to do so. A total of 16 highly secure European printing produce the notes, which are then distributed to various central banks.
In France, the ticket printing is performed mainly in Chamalières, near Clermont-Ferrand. In Germany, production is spread over several sites in Leipzig, Berlin via Munich.
Unlike banknotes, euro coins are the responsibility of national authorities and not the system of central banks. The coins are minted by the Member States via the mint of each country.
How are the money needs?
Once estimated the annual need tickets, which should cover the cuts used, anticipated increases in demand of species – due to seasonal peaks for example – and to meet unexpected increases in demand, ticket printing is distributed between different printers.
The ECB allocates production volumes in several national central banks usually focus on the production of one or more cuts.
In 2014, only 20 euros cuts were made in France, while Greece has she concentrated on denominations of 5 and 10 euros, Germany 100 and 200 euros, and Austria 500 euros.
As for the rooms, it is also the ECB approves the amount produced each year in order to keep control over the money supply in circulation.
How money flows?
In late May 2015, around 17.7 billion banknotes were in circulation, amounting to 1.032 trillion euros. The most widespread is the cut of 50 euros. As for the rooms, 112.77 billion units were outstanding at the same date, amounting to 25 billion euros, the most common being that of a percent, according to data published by the ECB.
Commercial banks control the tickets with the national central banks in exchange for assets they have in portfolio as collateral. They then put them available to everyone via distributors and wickets. Tickets are used to spending in shops and markets, including then deposited by traders, among others, in the banks. They then return them to the national central banks, which check if they are genuine and can be recirculated.
However, the organization of the supply chain is different from one country to another.
The transport ticket is usually provided by private companies CIT, acting on behalf of the national central banks.