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Bundesbank member opposes restrictions on cash

Categories : Cash has legal tender status, Cash is a public good, Cash is trust
February 9, 2016
Tags : Central Bank, Denomination mix, Europe, Privacy and anonymity, Regulation
Bundesbank member Carl-Ludwig Thiele reacted to a proposal to set a limit on cash payments in Germany.
Communication Team / Equipo de Comunicación

Bundesbank’s Carl-Ludwig Thiele reacted to a proposal by the German government to set a € 5,000 limit on cash payments.

“We are still in a fragile economic situation in the euro zone, and it does not seem smart for the government to talk about setting limits on cash payments and for the ECB (European Central Bank) to consider abolishing 500 euro bank notes,” Thiele told Frankfurter Allgemeine. “A currency is based on trust and it would be disastrous if people’s faith was damaged” he added.

To read the original article by Maria Sheahan, please click here.