The finance ministry for the European Union has announced that cash transactions over 500 euros would soon be banned. Large transactions will only be allowed via credit card, or by check, which essentially amounts to mandating that people have bank accounts. Believe it or not a lot of people don’t have, and don’t want bank accounts. The finance ministry hopes this will help combat tax evasion.Read more »
Escalation of the situation in Europe:
"Lately, there seems to have been a pullback in EU elite ambitions, a cessation of confidence in the idea that Eurocrats could slam their collective, Orwellian boot endlessly in the face of a resentful populace. [...] If Spain goes, so goes the EU – and we will gladly wave it goodbye. One more dreadful, authoritarian celebration to pile on the junk heap."
The European Union faces legal and political challenges over its handling of the carbon markets which remain in chaos after a cyber attack forced partial closure of the Emissions Trading Scheme.Read more »
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