Source: Cobden Centre
by Nick Corbishley
“In a major U-turn in the Global War on Cash, the government and central bank of Norway, one of Europe’s most cashless economies, are seeking to slow or even reverse the mass abandonment of cash. Only 3% of Norwegians used cash in their latest purchase in a physical shop, according to a recent central bank survey. In a bid to change that, a new amendment to Norway’s Financial Contracts Act came into force on October 1 that bolsters citizens’ rights to pay with cash in retail settings. The new legislation should sound the death knell for all the ‘we only accept cards’ signs plastered on shop windows throughout the country, reports the Norwegian online newspaper Nettavisen.” (10/22/24)