In parting from five-hundred, the European Central Bank extends a few tranquilizers. Yves Mersch, the ECB’s Director responsible for cash, asserts: In the euro zone applies further Liquidity remains true. But he calls three stakeholders who want to abolish cash:. The right-and-order stock, the financial-tech alliance and alchemists
Author: Holger Steltzner, Publisher.
for the “alchemists” put the cash an annoying hurdle because it prevents deep to cut rates into negative territory, to force people to spend money on that the economy is finally growing longer. Because by fleeing into cash people a devaluation of their bank deposits at excessively high penalty interest could escape.
It is honest to designate such motives even clear after some wanted to dismiss this as a conspiracy theory. It is also true that negative interest rates have negative effects if savers save about more, not less, because there is no compound interest or they fear that a part of the savings will be made.
The 500 euro note is being phased out.
want to abolish
That financial institutions and corporations digital cash to increase their profits and to be able to control customers better understood, but is not a reason to do them this favor. For the right-and-order stock Mersch has a nice comparison. Criminals were talking off and on mobile phones. But no one come up with the idea to ban mobile phones. Well roared, lion, one must recall Yves Mersch. But he can with his stance in monetary policy Council of the ECB to convince?
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doubt allowed. He and Bundesbank President Jens Weidmann have spoken in the debate on the gradual farewell to the cash for the entry of five Hunderters, but their arguments fell on deaf ears. Although there is no evidence of a link between use of cash and crime. In Sweden, where cash hardly matters, there is more economy than in Switzerland, where large bills and cash are common. Anyone who thinks that in the digital world there is no crime, should even look into the darknet, where open up abysses.
As long as the Governing Council is dominated by the supporters of alchemists, threatened after the departure of the five hundred and the two-hundred. For the Council find the Euro-alchemists often heard. The battle for cash has just begun. This fight is worthwhile: Cash only allows the individual freedom, privacy and self-determination
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