EU evaluates the disposal of 1-2 cent coins

The EU Commission today launched an impact assessment on the use of the 1 and 2 euro cent coins, and at the end of 2021 it will decide whether to propose to discard them or not. Brussels will consult institutions, public authorities, industry and civil society through a public consultation that will last 15 weeks. The evaluation is required by the regulation which asks the Commission to periodically examine the use of the different coins, especially the 1 and 2 cent coins. The Commission will decide at the end of 2021 whether to present a legislative proposal introducing rules for uniform rounding for cash payments, and therefore a divestiture of 1 and 2 cent coins. "The Commission will carefully assess the economic, environmental and social impact of introducing price rounding," writes Brussels.