Banque de France says printworks are going ahead

The Banque de France reached agreement with trade unions over the construction of a banknote production plant, ending a strike among printworks staff.

The central bank will appoint an ergonomist who will work with a joint group to prevent workers from suffering strain, it announced on July 21. Business paper La Tribune reported workers, both those on strike and not, would also receive a one-off €500 ($550) payment.

The €250 million plant project will be constructed in Vic-le-Comte, in the department of Puy-de-Dôme in central France. The BdF said it expects the project to get underway in September.

“France will have the most modern, efficient and ecological banknote production centre in Europe,” the central bank said.

On July 24, the BdF said there had been an 0.8% decline in cash access points in metropolitan France over the last year, to 73,205. “Metropolitan France” excludes France’s overseas departments and territories in the Caribbean, Indian Ocean and Pacific.

The decline is greater in larger population centres. The central bank concluded this is mainly due to a rationalisation of the ATM network.

The number of ATMs declined by 3.4% in 2022, but the number of cash access facilities in shops rose by 3.9%.

“More than 99% of the metropolitan population, aged 15 and over, live either in a municipality equipped with at least one [ATM]”, or within less than 15 minutes’ driving distance of such a town, the Banque de France said.

The report included a map of cash access facilities, the first produced by the central bank.