Greek Finance Ministry plans to put an end to cash payments. Purchases worth more than 500 euro will be not possible with cash money anymore. Finance minister Yiannis Stournaras told the Parliament on Thursday that he examines that “the expansion of electronic transactions with credit cards and other electronic payment methods for a wide range of transactions for amounts much smaller than those required by current legislation,” which is currently at 3,000 euro.
All transactions worth more than 500 euro will have to be made only through money transfer through banks, or credit/debit cards and checks.
It looks as if the finance ministry considers to give bonuses of 5% reduction to the Value Added Tax for if payment via credit/debit card etc.
Stournaras claimed that this measure targets to combat tax evasion.
It’s not clear when exactly the planned measure will go into effect – most probably we will know after the new taxation system voting later today.
Blame for all Greek misery the ‘tax evasion’ and you’re cleared of any responsibility…
PS I’m going to check my credit card limit as I plan to buy a real estate for 200,000 euro :p Until the bank gives me the green light, I’m pleased to have 100 euro in cash for the purchase of wood for the fire place.
If you have a Swiss bank account, and a credit card linked to it, this will not make one bit of a difference. The only record of a payment made using such a card is that the payment was made, but no other details are available as they must be provided by the issuing bank (not the CC terminal or ATM), and being a Swiss bank account, that doesn’t happen. Client privacy, don’t you know.
This is however yet another mechanism to control Joe Soap, who may actually have a credit card, and might use it once or twice in a life time. In the vast majority of cases, the credit card would be a pre-paid card, and then there is no point in any of this, as all the transactions are logged anyway…
Yet another smoke screen, making it look like something is being done, while in reality it puts up more protection for those that need something doing about.
everything targets to control Joe Soap, because the other Joes have othe rmeans to bypass taxes (off-shores, foregin bank accounts etc). But Joe Soap will have to pay commission to banks for his transactions and sho will the merchant for using this system.
Well of course, did you really think Joe Soap would be allowed to do things without being controlled? That might just result in Joe Soap thinking for himself, and that is just an intolerable prospect. Just image Joe Soap telling Mr. Money where to put his mind-numbing, brain dead jobs and going off doing something he likes doing instead of being factory fodder for Mr Money and spending the peanuts on useless stuff made by brain dead Joe Soaps in the factories owned by Mr. Money…
Can’t have that, can we? There would be no more use for Swiss banks, leave alone armies or civil servants to execute the control measures.
of course I didn’t dare to think such an absurde thought. My last purchase here will be a one-way flight ticket, destination ANYWHERE.
A remarkably stupid, if remarkably predictable idea. It makes the “coin of the realm” illegal tender for certain transactions. Doh ! The euro is a fiat currency, and is therefor “faith based”. It’s only value is that people believe that it has value in buying things. Erode this – excessive taxation, the must-spend x% of income on approves items with receipts, are other examples – and you risk the destruction of the currency by the loss of faith in its usability, triggering hyperinflation.
A slippery slope. The threshold in real purchasing terms will no doubt be allowed to get lower with time. Maybe you will be given a government card that must be used to log all purchases. Once government can measure something, they can control it. So freedom your detailed spending behaviour is up for grabs, even rationing limits can be set at will.
they tried a government card but the project failed.
What if you are immigrant and cannot qualify for credit card, how you buy something?
You buy it on the grey or black market. So, what’s knew?
That’s the problem with all these crazy schemes and new regulations. It is just that: schemes and regulations. And nobody will pay attention and everything will go on like it always was for those who pillaged and raped Greece the last couple of decades.
Part of the plan my friend. If you can’t afford a credit card, you have no right to a life. Only credit card or Swiss bank account holders need apply. Everybody else shut up and accept your place as the serfs of the 21st century Pashas…
The only thing George Orwell got wrong was the year…
Remember this, Greece is the perfect testing ground for people control systems. With their history of being an uncontrolable lot, the powers that be know that if they can devise systems that will control people like the Greeks, they will then have a system that will be able to control all of those who are a little more “co-operative”.
These new systems, sold under the new mantra of “measures against tax-evasion” are just that. Beta-systems for what is to come. Greece is the test-lab for this living standards control systems. Ireland is the test-lab for the new “identity cards”, the UK (more specifically Leeds) is the test lab for movement control systems. One of these days it will simple all click together, and before you know it, Big Brother will be not just in your living space, but in your mind.
Take this to it’s logical conclusion, and before you know it you will only be able to buy even basics if you have a credit card. If you don’t have this card, you are totally at the mercy of “government”. Exactly where the powers that be want you.
I’m so glad I liquidated all my properties and bank accounts in 2008 and transfered it all to the US. I’m lol my butt off.
John what if Amerika do same thing as Elephant say then where you liquidate to?
Some would say: “You liquidated all your illicit gains and made a run for it.” 😉