Central Banking

ECB’s Cœuré says cashless society is neither likely nor desirable


The eurozone will not be moving towards a cashless society for some time to come, and nor would such a move would be desirable, according to Benoît Cœuré, who sits on the executive board of the European Central Bank (ECB).

At a cash conference jointly organised by the ECB and the Austrian National Bank, Cœuré said demand for notes and coins was still very strong, with 70–80% of eurozone transactions and 50–60% of the value of all transactions conducted using cash.

Cœuré said there could be "no o

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