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The right to issue euro banknotes lies with the Eurosystem central banks. They have what is known as a “banknote monopoly”.
What is the “banknote monopoly”?
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Gabriele Kabelac
Gabriele Kabelac has been head of the Bundesbank’s Representative Office in New York since August 2018. As a trained economist, she has worked in the Deutsche Bundesbank’s in Directorate General (DG) Economics since 1995 and has been active in a variety of different fields, including monetary policy and analysis as well as analysis of the banking sector from a monetary policy and economic perspective. Most recently, she served as deputy head of the Office for Cross-Sectional Tasks and Speeches in the DG Economics.
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Financial Stability Review 2015
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Finanzstabilität und Geldpolitik: Vom langen Zinstief zum neuen Normal