Money: keep cash, watch the banks
Every card generates data. Cash is the last anonymous space — which is exactly why it's under pressure. What's documented, what's coming, what you can do.
What’s documented
- EU cash-limit debate: the Commission negotiated a €10,000 cap proposal (2024/25 state of play). France already limits cash payments at €1,000, Spain €1,000, Portugal €3,000 (residents).
- ECB SPACE study 2024: cash use declines, but a majority of euro-area consumers don’t want it abolished.
- CBDC plans: the digital euro is in preparation. The ECB promises offline anonymity “like cash” — critics (EDRi) warn of programmable money and sanction logic without court orders.
What you can do
- Pay cash where possible — not out of romance, but to keep the infrastructure alive. Every cash payment is a vote for an anonymous payment space.
- Choose data-minimal cards, avoid “Open Banking” consents for apps you don’t control.
- Watch the banks: no forced Google/Apple Pay lock-in; watch for account closures for political exposure (documented cases: e.g. Farage/Coutts 2023).
Debunking
False: “Abolishing cash stops criminals.” — No evidence; criminals move to crypto and smuggling. What is documented: cashless payments produce complete movement profiles — for everyone, not just criminals.
Also false: “The digital euro will be fully anonymous.” — The ECB itself speaks of “offline anonymity” for small amounts; online, reporting rules apply. What programmable money means is politically open — hence the watch.