French paper Le Parisien didn’t mince words in the headline: “La chasse au cash est lancee”. Basically ‘hunting season on cash is launched’.
Under the auspices of fighting terrorism, France’s Minister of Finance, Monsieur Michel Sapin, has rolled out a series of eight new restrictions aimed specifically at minimizing the use of cash.
Among the new restrictions is a prohibition of making more than 1,000 euros in cash payments (down from 3,000 before).
Large cash withdrawls exceeding 10,000 euros per month will also now be monitored and reported to the French authorities.
Foreign exchange offices will now be required to obtain a copy of someone’s ID to exchange more than 1,000 euros.
There are several more beyond this. And, just for good measure, they threw in a few controls that aren’t even related to cash.
Most importantly, moving and transporting GOLD through France, even through a professional freight service, must now be declared and reported to French customs.
