A timeline of the EU Initiative to restrict cash

June 13, 2018 Share

The EU's recent movements regarding cash use is one that should concern anyone stepping foot on EU soil, from locals to travellers. That's because cash is a social good, one that protects inclusivity and the public's freedom of choice. 

12th June 2018 

EU rejects legislative initiatives on cash restrictions to fight terrorism
The ECB published a report concluding the 2016 proposal to restrict cash payments across the EU. After careful consideration, the European Union decided against 'considering any legislative initiative on this matter.' Great news!

11th November 2017

ECB Occasional Series on use of cash by households
The survey results not only “challenge the perception that cash is rapidly being replaced by cashless means of payment,” but also confirm that cash is still the predominant payment instrument across the Eurozone at a POS level. 

1st September 2017

Cash Matters publishes White Paper 'Keeping Cash: Assessing the Arguments about Cash and Crime'
There is little to no evidence to support the claim that eliminating high-denomination banknotes or restricting cash payments will prevent terrorist attacks. Targeting cash simply misidentifies the issue at hand.

2nd February 2016

EU proposes cash-restricting Action Plan for the EU Parliament and the Council
The EU Commission proposed that the European Parliament and Council consider EU-level limitations on cash use to 'step up the fight against the financing of terrorism'.

Last Updated: June 21, 2018