Tuesday, July 21, 2015

Germany fires first salvo in war to end use of cash by consumers

As Greece starts to deteriorate into near Civil War as citizens within the EU country are unable to fully access monies kept in their banking system, they are not the only entities experiencing problems that threaten the monetary liquidity of Europe.  In fact, in what may be the biggest irony from the year long battle between Greece and Germany over Greek debt, Germany is launching its first salvo in a new ‘War to End Cash’ by cancelling a financial instrument that has allowed account holders in banks since 1992 to link their money directly to a debit card which could be used for purchases and withdrawals.

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