Cash ceiling: will it be set at 10,000 euros in the EU?
If the cap goes into effect, Germany and the Netherlands will have to set a cash limit for the first time. Italy will raise the limit to 5,000 from January.
The EU could introduce a maximum cash cap of 10,000 euros. The ceiling will apply to all member countries. Each State will also be able to implement lower limits. This is the agreement reached by the 27 governments of the EU Council on the new package of anti-money laundering regulations.
Terrorists and those who finance them are not welcome in Europe. To launder money, individual criminals and criminal organizations have had to look for loopholes in our existing rules, which are already quite strict. But our intention is to further close these gaps and apply even stricter rules in all EU member states. Cash payments of large amounts, over 10,000 euros will become impossible.
Finance Minister of the Czech Republic (current president of the EU), Zbynek Stanjura
If the law enters into force, different member states will have to comply. Member States that have no limit on cash payments are Germany, the Netherlands, Austria, Finland and Ireland. Hungary has a ceiling of 40,000 euros per month per legal entity.
Elsewhere the ceiling set by the EU is higher: in Croatia, with 15,000 euros, while in the Czech Republic and Malta it is 10,000. Instead, they are in compliance with European law, including Italy: France, Spain and Sweden, the limit is 1,000 euros, in Greece 500 euros. Then Latvia (7,200), Slovakia and Slovenia (5,000), Poland (3,300). Followed by Portugal and Lithuania (3 thousand), Denmark (2,700) and Romania (2 thousand).
- What is this story of the 10,000 euro cash cap “asked” by the EU (europa.today.it)