ECB Wary Over Proposed Portuguese Cash Limits

The European Central Bank (ECB) has warned that a pair of draft laws in Portugal which are seeking to put limits on cash payments in the country could be damaging for financial inclusion. 

The ECB raised concerns in an opinion on Portugal's proposals published last week. 

The first law would require all payments of €10,000 or more to be made using a method which identifies the recipient, such as bank transfer, direct debit or cheque. 

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