The EU measure would focus on reducing the amount of cash in circulation, a proposal met with stark criticism by the ULC. The association circulated a press release warning against the consequences of abolishing cash and wondered whether the method would actually be successful.
The Luxembourg Consumer Association highlighted that the majority of transactions are still made through cash payments. According to the ULC, using cash provides individuals with more freedom given the quick and easy accessibility of using cash.
Above all, the ULC highlighted that cash is an important method of paying for people in more fragile social classes, as well as older generations.
Out of curiosity, how do RTL Today readers tend to make their transactions? Are you a contactless fiend? Or do you love having cash readily available? Let us know in the poll!
Knowledge Bites: 'Funny money' - The Luxembourg Franc
Decline of fake Euro bills in circulation
