What's going on with Greece capping the amount of cash one can spend?
February 15, 2010 5:05 AM Subscribe
From a Reuters newsreport about Greece's government response plan to their economic meltdown: "From 1. Jan. 2011, every transaction above 1,500 euros between natural persons and businesses, or between businesses, will not be considered legal if it is done in cash. Transactions will have to be done through debit or credit cards" Are they doing this for any other reason than making it easier to collect a sales tax? How can they enforce it? What will happen if someone pays for an item with over 1500 euros in cash, will someone repossess it? Have other countries done something like this?