Cash payments must be limited – economy

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Markus Zydra, Frankfurt

In Germany, many people are attached to cash. The plan to introduce a cash limit across Europe is causing a stir. The majority of EU finance ministers have agreed on this. Cash payments of more than 10,000 euros would then be prohibited. Federal Finance Minister Christian Lindner (FDP), who is responsible for combating money laundering, and the Bundesbank also think little of the idea. This shows how deeply rooted unrestricted cash transactions are in this country. Some consider the measure, like the ban on the 500 euro note, to be a precursor to the abolition of cash.

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