Our report on Sweden becoming a near-cashless society went viral last month. But former Sweden Police Chief and Interpol President Björn Eriksson says there are reasons to be cautious about the concept.
"Banks have long been lobbying to remove cash from our communities, and they have come a long way. Four out of five purchases in Sweden are now made electronically or by debit card.
But the issue is far too important to be left in the hands of the private sector.
The state needs to make sure that people still have the right to use cash.
Last week saw Sweden's banks release their accounts and yet again we heard about their big profit wins. Swedbank for example announced a record profit of nearly six billion kronor ($811 million). Full story...
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"Banks have long been lobbying to remove cash from our communities, and they have come a long way. Four out of five purchases in Sweden are now made electronically or by debit card.
But the issue is far too important to be left in the hands of the private sector.
The state needs to make sure that people still have the right to use cash.
Last week saw Sweden's banks release their accounts and yet again we heard about their big profit wins. Swedbank for example announced a record profit of nearly six billion kronor ($811 million). Full story...
Related posts:
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