Bundesbank’s Carl-Ludwig Thiele reacted to a proposal by the German government to set a € 5,000 limit on Money in physical form such as banknotes and coins. payments.
“We are still in a fragile economic situation in the The name of the European single currency adopted by the European Council at the meeting held in Madrid on 15-16 December 1995. See ECU. 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 The money used in a particular country at a particular time, like dollar, yen, euro, etc., consisting of banknotes and coins, that does not require endorsement as a medium of exchange. is based on trust and it would be disastrous if people’s faith was damaged” he added.
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