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Austrian Minister Calls For a Constitutional Right To Pay In Cash
New submitter sittingnut writes: Bloomberg reports that Austrian Deputy Economy Minister Harald Mahrer has called for a constitutional right to use cash to protect their privacy. According to the report, Mahrer said, "We don't want someone to be able to track digitally what we buy, eat and drink, what books we read and what movies we watch. We will fight everywhere against rules," including caps on cash purchases. EU finance ministers at a meeting in Brussels last Friday urged the European Commission, the EU's executive arm, to "explore the need for appropriate restrictions on cash payments exceeding certain thresholds," " to crack down on "illicit cash movements."
It won't. Most purchases are not debts.
All purchases are debts for the buyer until paid in full.
There are laws against this. For example, in my country (an EU member), you are not allowed to pay in cash for anything above 2564.1 euros. Otherwise you are presumed to be laundering money. The limit was higher until recently. And it will only go down, despite inflation...