This note with the largest denomination accompanies the economic development of the country, and according to all analysis, meets the market requirements to have it in the structure of our series of banknotes, which are legal tender. The presentation and issue of this note will enable a better and more efficient circulation of cash, by helping the structure of the currency in circulation, reducing the costs of production, storage and distribution, thus enhancing the efficiency of the Bank of Albania in cash management and issuance. In addition, the presence of this new highest-value banknote in the structure of the Albanian banknotes increases also the effectiveness of the Bank of Albania to manage a rather adequate strategic stock to meet the 1/3  BIS central bankers' speeches  increased market demand for cash in contingency cases. Despite the development in other means of payments, as electronic ones, currency in circulation is set on an upward trend from years now. This trend reflects the ongoing demand of economy for cash as a payment means. Bank of Albania is attentive while planning to guarantee the fulfilment of this demand of the market, in both normal and atypical situations. The current situation caused by the Covid-19 pandemic, is a real example in this regard. Economy has increased further its demand for cash throughout this period. Thus, over 2020, currency in circulation lifted by ALL 52 billion or three times higher than the growth recorded in 2019.
They are not. Competitiveness is the real issue for these countries. No economy can survive and thrive unless it is competitive. The upshot of the recent U-turns is that the markets are completely confused and do not see any predictable outcome to adjust to. They see no will to allow Greece to leave the eurozone and depreciate, but they also see no willingness to support the country sufficiently. The solution to the crisis has already been made unavoidably costly due to past incredible and unclear communication. There are two possibly costly but credible ways to restore competitiveness. The first is a solution within the framework of the eurozone. This would involve restructuring the debt and imposing and rigorously enforcing fiscal discipline. But the structural reforms are hardly enough to restore competitiveness within a short enough period of time in such a scenario. In addition, tens of billions of euros in aid would have to flow from the strong eurozone economies to the weak ones to restore competitiveness. Such generous aid would very probably have to be conditional on the distribution of the aid not being managed by the Greek authorities. The ECB would provide liquidity support – and assurances of such support – to the Greek banking sector. I believe that given the relatively small size of Greece – and even, if need be, of Greece and Portugal – both those actions are within the realm of the politically feasible.