Will There Soon Be a Euro Parallel Currency?—On the Proposal for a Tax on Cash

Dirk Meyer ()
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Dirk Meyer: Helmut-Schmidt-Universität

Chapter Chapter 7 in European Union and Monetary Union in Permanent Crisis I, 2022, pp 111-120 from Springer

Abstract: Abstract The idea is emerging from the ranks of the International Monetary Fund (IMF) and the European Central Bank (ECB) to make the preservation of value in cash unattractive in order to avoid negative interest rates on deposits and savings accounts. Euro cash and euro book money would circulate as two currencies with a fixed exchange rate. Euro cash would be devalued against euro book money at the negative interest rate/overnight rate—which is effectively a tax on cash.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-658-38643-6_7

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DOI: 10.1007/978-3-658-38643-6_7

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