Eurozone

Portrait for @tom
by @tom
2021-01-27T10:00:01+00:00
Regional News • Europe • European Union
EU considers restricting cash payments
EU considers restricting cash payments
Credit: unsplash.com / Markus Spiske

The EU Commission considers a uniform upper limit for cash payments to be sensible. Currently, 10,000 euros is considered the likely maximum amount.

To make it more difficult for criminals to handle cash, the group would prefer to introduce an EU-wide cap on cash payments of a maximum of 10,000 euros, although individual member states could also introduce lower limits.

Portrait for @LINO_MSR
by @LINO_MSR
2020-10-05T20:00:01+00:00
Business • Economy
European Central Bank preparing for possible digital euro launch in 2021
European Central Bank preparing for possible digital euro launch in 2021
Credit: DXR / Wikimedia Commons (Creative Commons Attribution ShareAlike 4.0)

The European Central Bank is currently preparing a concept for an official digital currency that would complement hard cash as a payment method. "Towards the middle of 2021 we will decide whether to launch a digital euro project." states the official website of the project.

Portrait for @ericof
by @ericof
2020-05-01T01:44:33+00:00
Business • Economy
Eurozone economy shrinks 3.8% in first quarter
The Hemicycle of the European Parliament in Strasbourg during a plenary session in 2014.
The Hemicycle of the European Parliament in Strasbourg during a plenary session in 2014. Credit: Diliff (Creative Commons Attribution ShareAlike 4.0)

The eurozone’s gross domestic product fell 3.8% versus the final three months of 2019, according to data released Thursday, as measures imposed to limit the Covid-19 pandemic’s spread stalled everything from schools to factories to churches.

Separate figures revealed a steep fall in economic activity in France (5.8%) and Spain (5.1%) over the same period.