German Ministers Clash Over €10,000 Limit on Cash Transactions
- Interior ministry in favor of a maximum well below €10,000
- Finance chief Lindner against regulation of cash in principle
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Two of Germany’s top ministers are at odds over the potential introduction of a ceiling on cash transactions.
Nancy Faeser wants a limit on physical payments “significantly below €10,000” ($10,400). This would reduce the danger of “assets being concealed by criminals,” the interior minister, who is a member of Chancellor Olaf Scholz’s Social Democrats, told reporters in Berlin on Wednesday.