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definition scope and effects of legal tender of euro banknotes and

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  • What euro notes are legal tender?

    There are seven different denominations of euro banknotes: €5, €10, €20, €50, €100, €200 and €500.
    All the notes are legal tender throughout the euro area.

  • What is the legal tender in Europe?

    Euro banknotes and coins are legal tender in the euro area, and cash is the only form of public money to which everyone can have direct access.

  • What is money as a legal tender?

    Legal tender is any form of payment recognized by a government, used to pay debts or financial obligations, such as tax payments.
    National currencies, such as the U.S. dollar, are legal tender.
    In the U.S., the Treasury is authorized to create and issue dollars to the public.

  • The five-hundred-euro note contains several complex security features such as watermarks, invisible ink, holograms and microprinting that make counterfeiting very difficult.
    The note is being phased out due to concerns of widespread use for illegal purposes.

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definition scope and effects of legal tender of euro banknotes and