European Central Bank Executive Board member Yves Mersch has said he wants proof that high-denomination euro banknotes facilitate crime. While there's been much coverage of the matter, Mersch would be “very happy if any substantiated evidence would be shipped to the ECB.”
Step forward the Spanish police, who arrested two men at Madrid airport and seized 200,000 euros ($219,000), cash that they said was en route to China as part of a money laundering scheme. The haul, publicized in photos last week, was rolled up in cigarette packets and made up of 50-euro and 500-euro notes.
