The Principle of Proportionality and Cash Payment Limits
An Analysis of European Central Bank Opinions
DOI:
https://doi.org/10.46282/blr.2025.9.2.1046Keywords:
EU Law, European Central Bank, Proportionality, Euro, Cash, Cash LimitationsAbstract
This paper examines the European Central Bank's evolving interpretation and application of the principle of proportionality regarding national legislation limiting cash payments within the EU. Through a comprehensive analysis of ECB opinions issued over the past decade, the study traces how the ECB's assessment framework has developed from general considerations of compatibility with legal tender status to a more nuanced evaluation encompassing the appropriateness, necessity, and proportionality stricto sensu of proposed measures. It contributes to the understanding of how the principle of proportionality operates as a crucial legal standard in balancing legitimate public policy objectives with the preservation of cash as legal tender in the European monetary system in the view of ECB.
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