Fresh Criticism Of Cash Limits In Portugal

Further concerns have emerged with regard to Portugal’s proposed limit on cash payments, following the European Central Bank’s (ECB) lukewarm reception to the draft laws last week. 

Experts have expressed doubts over the efficacy and reliability of the law itself, as well as whether Portugal has the necessary payments infrastructure to support such a radical shift. 

Rodrigo Formigal, a managing associate at PLMJ in Lisbon, pointed to a number of areas where the proposed law could falter, including the culture of payments in Portuguese society.

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