Friday, January 22, 2016

“Take the cash from!” – Tagesspiegel

01/22/2016 22:47 clock By Heike Jahberg and Sarah Kramer <- inTeaserPicPosition:! 1 -> <- self.position: 1 -> <- classId: HCF center -> <- position: center -> <- inIsPrint: false -> <- inHasPic: true ->

Bares has had its day, says German Bank CEO Cryan. But the Germans want to keep their bills.

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If you cash very abolish? Then would be the counterfeit problem at a stroke from the world. Cash only help money launderers and other criminals to conceal their businesses, said German Bank CEO John Cryan at this week’s World Economic Forum in Davos – and surprised with a daring thesis: Cash will disappear in the next decade. Because: “Cash is terribly expensive and inefficient.”

Already last year, the economy Peter Bofinger had called for the abolition of cash, triggering storms of indignation. Finally, the Germans are very attached to their notes and coins. While about Sweden and Denmark digitize their payments radically, people in Germany continue to pay primarily in cash: in 79 percent of transactions, as the Bundesbank calculated using data from the 2014th . Just over half (53 percent) of retail sales are handled with cash

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Business does not believe in quick from

“In my opinion, the share of cashless payments increase while cash will remain” affirmed Bundesbank board member Carl-Ludwig Thiele. Cash payer appreciate the fact that they have a clear picture of their spending and do not have to worry about privacy when you pay.

Even when trade association HDE not believed to a quick farewell note and coin. “If and when the end of the cash comes, choose the customer. The trade currently takes more than half of its sales via cash counter “, let HDE Managing Director Stefan Genth main declare on demand. “In this respect, there is no end yet in sight, even if the sales are rising steadily, but slowly with card payments.”

sense warns of penalty interest

Among the economists who defend the cash belongs Hans-Werner Sinn. The President of the Ifo Institute provides cash in a protection of citizens before the monetary policy of the European Central Bank. “Some central bankers want to abolish the cash, so that the banks can introduce negative interest rates and the debt Southern European countries have to pay any more interest on their debt, but are paid quite the contrary,” the Ifo chief recently told the Tagesspiegel interview.

Even now require banks in individual cases penalty interest when large investors park money with them. Retail investors and -sparer them are not so far affected. The cash preserve them from criminal charges, says sense. “As long as there is cash, you can protect yourself against such exploitation,” said sense – if necessary, by placing the money under the pillow

In Kleve on the Lower Rhine should at least one- and two-cent coins. soon belong to the past. Under the pithy title “Kleve banished the small change” were called 800 retailers in this week to take part in the campaign from 1 February. Prices should then be rounded up or: cost two products together, for example, 14.48 Euro 14.50 Euro cash will be due, a total price of 15,61 Euro comes off, be rounded down to 15,60 euro

<. p> small change is increasingly for the retail industry a cost factor, they say to justify. “We are close to the border, the Dutch do it for eleven years,” said the managing director of city marketing, Ute Marks. “Maybe is indeed from the small Kleve times a wave across the country.”

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