Germany wants to crack down on cash
MUNICH, Germany — Germans are famously fond of cash. But that didn’t stop their government from announcing plans earlier this month for a 5,000 euro limit on cash transactions, following similar moves in recent years by France, Italy and Spain.
Last week, a top European Central Bank official told a French newspaper the days of the 500-euro note may be numbered.
In line with global trends leading to a “cashless future,” European officials are cracking down on large sums of physical currency. And there’s a simple reason, experts say: there’s just too much of it out there.
The glut of bills... read more