ATMs in Europe have worked overtime in 2015 Record of banknotes in circulation 1.08 trillion ($ 1.17 trillion) almost doubled from 10 years ago, according to the European Central Bank.
This is the counter argument of some bankers who say that electronic forms of money will replace paper money earlier.
The value of banknotes in circulation rose by 6.5 percent last year, the most since 2008. Reasons for the growth are negative rates on deposits, but part of the increase may be associated with the influx of refugees who do not have bank accounts.
Banknotes in circulation will continue to grow in 2016, because the refugee stream probably will not stop monetary policy conducted by the ECB and the negative rate on deposits is expected to further reductions during the year.
E.Dimitrov JrTrader
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