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Soon gone? The two-eurocent coin (Photo: Valentina Pop)

EU considers withdrawal of 1 and 2 euro cent coins

The European Commission on Tuesday (14 May) tabled several scenarios for the withdrawal of the 1 and 2 euro cent coins, with the cost of printing these coins greater than their use.

"The production of 1 and 2 cent coins is clearly a loss-making activity for the euro area with the difference between the face value of the coins and the price paid by the state to get them pointing at an estimated total cumulative loss of €1.4 billion since 2002," the commission said in a press release.

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Soon gone? The two-eurocent coin (Photo: Valentina Pop)

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