Urgent warning to Spanish holidaymakers as Euros disappear

Physical cash is on the decline as British tourists in Spain and other EU countries can no longer use legal tender

British holiday makers that are jetting off to Spain and the rest of Europe have been warned that Euros are at risk of elimination.

Much like the UK, the EU has been slowly phasing out the usage of physical cash, with the European Central Bank (ECB) and the Bank of Spain officially halting production of the €500 note back in 2016.

This was done due to their association with illegal activity, though if you have one, they can still be used as currency.

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However, many shops and restaurants refuse to use them now due to their difficulty to get rid of, making them something of a white elephant for Brits abroad.

It is advised for Brits to bring them to the bank and exchange them; otherwise, they could be difficult to use while making purchases.

They aren't the only euros that are at risk of disappearing, as 1 and 2 cents are quickly vanishing across multiple EU countries.

Across Belgium, the Netherlands, Finland, Ireland, Slovenia, and Italy, they are no longer minted, making them harder and harder to come across.

In fact, cash payments are now rounded to the nearest five cents in order to avoid the usage of these pennies entirely.

Countries such as Spain, France, Germany, Portugal, and Austria are now considering making the switch as well and ditching the coins in the coming years.

While nothing official has been announced, there are serious discussions on the matter being held within the ECB.

It would seem like a popular move, as on average 72 percent consider them "not useful," and 71 percent are in favour of introducing a European rounding rule to five cents.

Every few years, the ECB updates euro notes and coins with new designs and enhanced security features, meaning older versions are gradually pulled from circulation.

With regular discussions on the coins still being held, it seems likely that more EU countries will opt to ditch them in the coming years, though ultimately it will be the ECB's decision if the wider EU goes ahead with it.