Has the EU missed the boat?

[exile]

I came across this news article:

https://www.msn.com/en-gb/money/other/e ... 36ae&ei=37

No impact here in France where the restrictions are already more stringent - but understanding the German mindset I can see the upset this will cause.

However it occurred to me that in stopping some illicit bits of business, that the boat has already sailed with miscreants already using bitcoin and similar untraceable digital financial systems.

Any thoughts?

[RobertArthur]

We were two weeks in Germany in October, in Thüringen and cash is still the preferred way to pay. We also visited the city of Weimar and I must say that I share Vohra's observations. Memories of the hyper inflation in 1923, the Weimar Republic are still in the DNA of many Germans, part of their mémoire collective. What about this banknote, or let's step up to this level. No sweet memories at all, the fear of losing almost everything. Much easier in internet times. Are these new regulations going to help the crime fighters and protect the law abiding citizens? I doubt it.

[exile]

It was certainly still a cash driven society when I left 10years ago.

Less than when we arrived in the 90s however. Then you could use a bank card or a credit card at a big hotel, major railway station, airline and pretty much nowhere else. At least when we left, bank cards were accepted in shops and supermarkets as well as petrol stations; but cash was still king.

Before I left the UK in the 90s I could go for a night out with £10 and a credit card in my pocket and I was set for a great night. In Germany, if I had less than 250Dm in my wallet, I was getting twitchy and looking for an ATM - which translated to around €125 in 2002.

[niemeyjt]

Of course it is another case of trying to bring what us plebs are allowed to do within the control of governments.

Long term objective is to go cashless, then get more control over the populace and what they can buy - and the government being able to dip into bank accounts.

Of course it wont affect the real criminals - bitcoin etc, non EU currencies - they will work around it. After all, it is alleged they are already breaking the law.

[Hotrodder]

and the government being able to dip into bank accounts.

Spot on!

[tagh]

Couldnt agree more!