While particularly in the wake of the financial crisis in 2008 there were stronger outflows of notes going to eastern EU countries, a “dehoarding” of stocks has begun. Every year net return flows have been noted. The return flows from Turkey however result in large part from local tourism.
In addition, it is likely that considerable amounts in the pockets of Turkish migrant workers end up in their home country, from where they are repatriated via the banking system. In some non-euro area countries, Kosovo and Montenegro, euro cash is even legal tender and is therefore regularly used in daily transactions.