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Belgium "Rounding Up"

13.05.2014

Belgium's Minister of Finance Koen Geens has announced an oncoming law on removal of 1 and 2 cent euro coins. In this case, Belgium will follow suit of Finland and the Netherlands in gradual withdrawal of the fractional currency still used in the eurozone.

Finland and the Netherlands, in 2002 and 2004 respectively, obeyed the rule for rounding sums up to 5 cents or down to zero in order not to use 1 and 2 cent coins. Now Belgium is joining the list of such countries.

Mr. Vande Lanotte, Belgian Minister of Economy, noted that the "rounding rule" would have no effect on the pricing policy, with sum totals in checks, not product prices, to be rounded.

Source: LifeBel.com info portal

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