The same €3000 limit for cash transactions has already been implemented in Belgium, France has an even stricter limit of €1000.
Starting in January, the ECB will stop the distribution of the €500 bill.
We're nearing the death of cash.
Re:Libra, 2 Weeks In
by touristtam on Tuesday July 09, 2019 @06:56AM
(#20390563)
Interesting; I believe the creation of the 500 bill was at the request of Germany. This is the second visible 'give in' from Germany after not getting their candidate at the head of the ECB. Makes you wonder what they have traded this for.
Re:Libra, 2 Weeks In
by Heliosmaster on Tuesday July 09, 2019 @05:43AM
(#20390219)
Italy as well, and other countries are following suit / will do.
Does that ban apply to to individuals, though, or only companies? In the European countries I know of, it’s the latter.
Sort of related, in the Netherlands, we will soon (2 years or so) have a ban on cash transaction of more than 3000 euros. Not to one-up, just saying that it's happening. To be fair, I contribute to this by doing pretty much all payments electronically. Just like I contribute to local bookstores disappearing by buying from Amazon, although I claim to like local bookstores.