Article Image

IPFS News Link • Government

Austria to enshrine the right to pay with cash into constitution

• Art of Liberty Daily News

On 4 August, Austrian Chancellor Karl Nehammer announced plans to enshrine the right to pay with cash into the country's constitution as card contactless payments become more popular in Europe. Nehammer proposed the amendment after the Austrian Freedom Party, which is currently surging in the polls, accused the current government of conspiring to ban cash to track its citizens. Nehammer is the leader of Austria's conservative People's Party, which rules in a coalition with the left-wing Green Party. "In Austria alone, 47 billion euros are withdrawn from ATMs every year and on average every Austrian carries 102 euros in cash," Nehammer wrote in a tweet (original in German). "That is why I… am committed to ensuring that cash is constitutionally protected as a means of payment." The plan would guarantee cash as a payment option and instruct the Austrian Central Bank to secure a basic supply of paper currency. Nehammer has tasked Finance Minister Magnus Brunner to


ContentSafe