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Riksbank plots end of 20 kronor note

TT/The Local · 23 Mar 2010, 14:50

Published: 23 Mar 2010 14:50 GMT+01:00

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Selman's future, which has been a bone of contention between the Riksbank executive board and general council, will be decided in parliament.

The Riksbank has also proposed the introduction of a two-krona coin and a 200 kronor note. Existing coins will also be made lighter and smaller.

"This eases handling and reduces environmental impact," said Svante Öberg, Riksbank deputy-governor, in a statement.

Öberg explained that one advantage in switching to a coin is that notes wear out too fast.

"The reason is that the 20 kronor note is getting increasingly worn out, which leads to increasing problems in the mechanical handling of the banknotes. A coin has a much longer life cycle than a note," he said.

Story continues below…

The general council of the Riksbank took a stand at a meeting in March against the decision to phase out the 20-kronor note.

TT/The Local (news@thelocal.se)

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Your comments about this article

19:07 March 23, 2010 by seagull
I wish they would just ditch these plans and go to the euro. And the UK.
21:30 March 23, 2010 by waybackwhen
You don't want much do you Seagull ?!

A recent poll showed that the majority of the Swedish population is against introducing the Euro here. I dare say it is so in the UK too.

You could always move to a Euro-country, like erm let see... Greece, and take your chances.
10:25 March 24, 2010 by Nemesis
Sweden is legally oblidged to join the euro anyway. They should just cut the nonsense and join the Euro.


Denmark is in the Euro in all but name as the currency is pegged to the Euro.

@ waybackwhen

If you want to move to Greece, please do so.

Angela Merkel has already stated the EU should have the power to kick a country out of the Euro.
10:32 March 24, 2010 by Tiddler
Only one reason for this, inflation is expected.
10:47 March 24, 2010 by Åskar
As for the article, why not? There are £2 and €2 as well as 20 DKK and 20 NOK coins already.
11:27 March 24, 2010 by calebian22

They are legally obligated once certain conditions are met. These conditions are up to debate. Sweden will join the eurozone when it benefits them, and not before.
11:34 March 24, 2010 by qed16
Dear god not more coins... Coins are heavy, inconvenient, annoying and have no redeeming qualities whatsoever. Why?
11:54 March 24, 2010 by the fonz
The EURO is a political union and NEVER made sense economically. I can't believe some people can actually still think it works despite what has now been proven. Greece, Italy, Portugal, Ireland and what about Eastern European countries when they join? The whole system is a mess and smaller countries suffer badly.

Look at the headline below 'Swedish economy on the mend' talking about a budget surplus next year - whislt the EURO will continue to be kicked around everytime another scandal is exposed in fudged figures!
12:02 March 25, 2010 by DAVID T
Good I hate notes - they fall out of my pockets to easily and my kids think i'm rich because I have notes
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