Back in January this year, Italy announced plans to limit cash transactions and also all credit card transaction had to be reported. Now it looks to push the limit even lower by possibly early next year the limit could be as low as €50. Other countries have announced cash limits but none as draconian is this YET. How long before all cash transactions and we go full digital?
Below is a google translate from Sudtirol News:
Rome – The technical Rome government wants to limit cash transactions in Italy.From 2013, citizens may pay amounts in excess of 50 euros only by credit or debit card. Dies hat der Ministerrat heute beschlossen. That the Council of Ministers decided today.
The measure is intended to reflect the money laundering and black money payments to clamp down. Since July, the government has banned cash transactions over 1,000 euros.