Greece is going to be tracking, tracing and databasing all transactions greater than 1,500 euros and that's according to the country's Finance Minister George Papaconstantinou. And if you do not have electronic currency (credit and/or debit cards) then you will not be able to conduct commerce and business. Also if this law is successful in Greece, then you can expect similar laws to be introduced in other jurisdictions.
There are many other financial overhauls and you can read them by clicking this link.
Source: Reuters
There are many other financial overhauls and you can read them by clicking this link.
"From 1. Jan. 2011, every transaction above 1,500 euros between natural persons and businesses, or between businesses, will not be considered legal if it is done in cash. Transactions will have to be done through debit or credit cards"
Source: Reuters
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