Disappearing cash, a chilling rationale surfaces: "Intending to perpetually dominate us"
In a roundtable discussion held recently, various organizations discussed the role of cash and the potential digital euro as tools for personal autonomy, coexistence, and collective organization. The event, organised by the Denaria Platform, was attended by representatives from several organizations, including Cermi (Spanish Committee of Representatives of Persons with Disabilities), Down Spain, Afammer (Association of Families and Women in Rural Areas), and more.
Miguel Padilla, secretary general of COAG, defined COAG as a fervent defender of cash payments due to their prevalence in the rural world. He expressed concern about the growing lack of acceptance of cash in some places, particularly in light of the ongoing digital transformation. Agustin Matias, director of Down Spain, shared similar sentiments, stating that the obsession with control is a concern and that giving options for payment methods is essential.
Javier Rupérez, President of the Denaria Platform, echoed these views, revealing that they receive "daily complaints" from people who are denied cash payment, most of which come from public sector companies. He defended cash as a method of payment and savings because it guarantees autonomy and freedom. Rita Mateos, general secretary of Afammer, added that cash should be considered a public service of the first order and is a pillar of the local economy.
Cermi, an organisation that champions the rights of people with disabilities, considers cash a clear tool of financial inclusion and social participation. They called for a "personalized" service for people with disabilities to ensure they are not financially excluded. Isabel Valldecabres, president and general director of the Fabrica Nacional de Moneda y Timbre, stated that the fear of the digital euro is not justified, as personal data is mainly held by companies like Bizum, Visa, or Mastercard.
However, not everyone is against the digital euro. The European Central Bank has launched a project aimed at ensuring digital sovereignty and inclusion by offering a simple, free, and inclusive payment method accessible to all citizens across the euro area. The digital euro aims to reduce dependency on non-European private payment providers and lower costs for merchants by offering an alternative to expensive international card payments.
Jose Luis Fernandez, president of Ceoma, expressed concern about the digital euro project, fearing it would allow citizen movements to be controlled. He criticized the limit for cash payments in Spain of 1,000 euros, arguing that the European Commission recommends a limit of 10,000 euros as a tacit norm.
A panel of parliamentarians from PSOE, Vox, PP, and Junts agreed that different payment options should coexist, and it should be the user who decides. They acknowledged the importance of cash, particularly for those less digitally connected, but also recognised the need for digital alternatives in today's economy.
In summary, the debate on cash vs the digital euro in Spain is complex. Proponents stress the digital euro’s role in complementing cash to maintain inclusion and sovereignty in a digital economy, while critics and cautious voices highlight challenges related to Spain’s digital sovereignty, security concerns, and the risk that digital payments might inadvertently exclude vulnerable groups without proper safeguards. As the digital transformation continues, finding a balance between these two payment methods will be crucial for ensuring financial inclusion and digital sovereignty in Spain.
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- While concern over a digital euro's impact on personal financial autonomy has been discussed amongst organizations like COAG and Cermi, the European Central Bank argues that it aims to provide a simple, free, and inclusive payment method for all citizens.
- In the realm of education-and-self-development, tech-savvy advocates champion the digital euro as a means to maintain digital sovereignty in business and finance, while critics like Jose Luis Fernandez, president of Ceoma, express reservations about potential risks of control.
- In a general-news context, the coexistence of cash and digital payment methods remains a contentious issue in Spain, as the government and various organizations grapple with ensuring accessibility and inclusion, including for people with disabilities, while safeguarding digital sovereignty and security in today's lifestyle and economy.
