Central Banking

Euro banknotes fail test of time

GERMANY - Germans were among the swiftest of Europeans to detect that the euro was dangerous to their wealth. Now it seems the replacement to the mighty mark just does not cut it in the rough and tumble of everyday life.

Since the introduction of the single currency on 1 January the Bundesbank has been forced to pulp 50 million euro notes - at a cost of £3.5 million.

"Since the start of the euro we in Germany have had to shred millions of them, 50 million notes to be exact, because they tear,