People go above the current limit already anyway. Suspicion will only arise when hefty withdrawals are made from the bank. It is also to catch those working on the black and ensure that these people are forced into the system to pay tax. They can't enforce existing regulation, so,I am not sure that Ayrault's plans will have any impact.
Oh dear. That means I could be left with 9€ in my bank account if the French government take 10%.
I personally think that with the corruption in the banking system and complicity of govt, anything is possible, and if you stuff it under the mattress, govt is likely to re-issue the currency and you get a certain amount of time to exchange it for the “new” currency otherwise it is rendered useless. I just don’t trust govt and the banking system anymore. The grand plan is to completely do away with cash and make everything digital, also to change legislation as to ow much can be exchanged in liquidity, therefore reducing the taxes lost by paying in the black…nothing is done to protect the people…and this is not being gloomy, this is just reality , one stays optimistic despite it.
Not doom-mongering here but everyone does need to keep an eye to business as regards their money.
I doubt the same will happen to French bank accounts but you do have to wonder why Jean-Marc Ayrault is attempting to thrust through legislation which will reduce the amount you can legally pay in cash for something from 3k€ to 1k€ by the end of 2013.
Or am I just being a tad too cynical?
It’s all to do with preventing the circulation/regulation of the proceeds of crime, of course to which we all must play our part…
Credit Agricole sent "reassuring" emails to all its customers when it looked as if they might collapse due to their Greek lendings and I think they raised the level of insured monies from €80,000 to €100,000. But there is always access to worry about even if the money doesn't disappear.
The accounts in Cyprus having a portion confiscated are only above €100,000. The ones who had money taken before last week from lower amounts will be reimbursed. The chances of a sovereign fiscal collapse as per Cyprus is unlikely here since 40% of all money held in Cypriot banks was Russian 'offshore' investment that was mostly withdrawn, which is most certainly not the case here. Basically, don't worry about the same happening. If France goes broke, put it all under your mattress and muddle your way through.