{"id":31230,"date":"2018-02-19T10:58:11","date_gmt":"2018-02-19T15:58:11","guid":{"rendered":"http:\/\/olduvai.ca\/?p=31230"},"modified":"2018-02-19T10:59:57","modified_gmt":"2018-02-19T15:59:57","slug":"no-cash-signs-everywhere-has-sweden-worried-its-gone-too-far","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=31230","title":{"rendered":"\u2018No Cash\u2019 Signs Everywhere Has Sweden Worried It&#8217;s Gone Too Far"},"content":{"rendered":"<div class=\"lede-text-only lede\">\n<div class=\"lede-text-only__container\">\n<div class=\"lede-text-only__content\">\n<h3 class=\"lede-text-only__hed\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-02-18\/-no-cash-signs-everywhere-has-sweden-worried-it-s-gone-too-far\"><span class=\"lede-text-only__highlight\">\u2018No Cash\u2019 Signs Everywhere Has Sweden Worried It&#8217;s Gone Too Far<\/span><\/a><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"content-well\">\n<section class=\"main-column\">\n<ul class=\"abstract\">\n<li class=\"abstract__item\">\n<div class=\"abstract__item-text\">Cash usage declining both as share of GDP and in nominal terms<\/div>\n<\/li>\n<li class=\"abstract__item\">\n<div class=\"abstract__item-text\">Riksbank committee could publish report on issue in summer<\/div>\n<\/li>\n<\/ul>\n<div class=\"lede-media-video lede\">\n<div class=\"video-player\">\n<div id=\"player-WAZKdsu\" class=\"video-player__container\" data-bmmrid=\"BWySfCPkRyyoFfrsCsHnYw\" data-url=\"https:\/\/www.bloomberg.com\/news\/videos\/2018-02-19\/sweden-most-cashless-society-in-the-world-video\" data-autoplay=\"true\" data-poster=\"https:\/\/assets.bwbx.io\/images\/users\/iqjWHBFdfxIU\/i2UCRvCuo_KI\/v5\/-1x-1.jpg\">\n<div class=\"bvp-playlist-player bvp-playlist-player--last\" data-breakpoints=\"320 640 800\">\n<div class=\"bvp-playlist-player__container\">\n<div class=\"bvp-playlist-slide\">\n<div id=\"bvp-bvp_pl-101814\" class=\"video-js vjs-default-skin vjs-16-9 vjs-paused vjs-fluid bvp-bvp_pl-101814-dimensions vjs-controls-disabled vjs-workinghover vjs-user-active\" tabindex=\"-1\" role=\"region\" data-breakpoints=\"320 640 800\" aria-label=\"video player\">\n<div class=\"lede-media-video lede\">\n<div class=\"video-player\">\n<div id=\"player-WAZKdsu\" class=\"video-player__container\" data-bmmrid=\"BWySfCPkRyyoFfrsCsHnYw\" data-url=\"https:\/\/www.bloomberg.com\/news\/videos\/2018-02-19\/sweden-most-cashless-society-in-the-world-video\" data-autoplay=\"true\" data-poster=\"https:\/\/assets.bwbx.io\/images\/users\/iqjWHBFdfxIU\/i2UCRvCuo_KI\/v5\/-1x-1.jpg\">\n<div class=\"bvp-playlist-player bvp-playlist-player--last\" data-breakpoints=\"320 640 800\">\n<div class=\"bvp-playlist-player__container\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"body-copy\"><\/div>\n<div class=\"vjs-text-track-display\" aria-live=\"off\" aria-atomic=\"true\"><strong>Sweden &#8216;Most Cashless&#8217; Society in the World<\/strong><\/div>\n<div class=\"bvp-title-bar bvp-title-bar__visible\">\n<div><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"lede-media-video__caption\">The value oof notes and coins in circulation are the lowest in nearly 30 years. Bloomberg\u2019s Amanda Billner reports.<\/div>\n<\/div>\n<div class=\"body-copy\">\n<p>\u201cNo cash accepted\u201d signs are becoming an increasingly common sight in shops and eateries across Sweden as payments go digital and mobile.<\/p>\n<p>But the pace at which cash is vanishing has authorities worried. A broad review of central bank legislation that\u2019s under way is now taking a special look at the situation, with an interim report due as early as the summer.<\/p>\n<p data-tout-type=\"story\"><a title=\"Click for full story\" href=\"https:\/\/www.bloomberg.com\/view\/quicktake\/the-end-of-cash\" target=\"_blank\" rel=\"noopener\">Going Cashless: Bad for Tax Cheats, Privacy, the Poor: QuickTake<\/a><\/p>\n<p>\u201cIf this development with cash disappearing happens too fast, it can be difficult to maintain the infrastructure\u201d for handling cash, said Mats Dillen, the head of the parliamentary review. He declined to give more details on the types of proposals that could be included in the report.<\/p>\n<p>Sweden is widely regarded as the most cashless society on the planet. Most of the country\u2019s bank branches have stopped handling cash; many shops, museums and restaurants now only accept plastic or mobile payments. But there\u2019s a downside, since many people, in particular the elderly, don\u2019t have access to the digital society.<\/p>\n<p>\u201cOne may get into a negative spiral which can threaten the cash infrastructure,\u201d Dillen said. \u201cIt\u2019s those types of issues we are looking more closely at.\u201d<\/p>\n<figure class=\"\" data-type=\"image\" data-id=\"324033833\" data-image-type=\"chart\" data-image-size=\"full\" data-align=\"center\" data-widget-url=\"https:\/\/www.bloomberg.com\/toaster\/v2\/charts\/427c6d85d90745698dd7cfbb107e218a.html?brand=technology&amp;webTheme=technology&amp;web=true&amp;hideTitles=true\">\n<div class=\"chart\" data-responsive=\"true\">\n<div class=\"chart-js\">\n<p class=\"chart__subtitle\">\n<\/div>\n<\/div>\n<\/figure>\n<p>Last year, the amount of cash in circulation in Sweden dropped to the lowest level since 1990 and is more than 40 percent below its 2007 peak. The declines in 2016 and 2017 were the biggest on record.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u2018No Cash\u2019 Signs Everywhere Has Sweden Worried It&#8217;s Gone Too Far Cash usage declining both as share of GDP and in nominal terms Riksbank committee could publish report on issue in summer Sweden &#8216;Most Cashless&#8217; Society in the World The value oof notes and coins in circulation are the lowest in nearly 30 years. Bloomberg\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[18693,83,1035,1034,951,536,4948,3471,771],"class_list":["post-31230","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-amanda-billner","tag-bloomberg","tag-cash","tag-cashless-society","tag-currency","tag-money","tag-paper-currency","tag-riksbank","tag-sweden"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31230"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31230\/revisions"}],"predecessor-version":[{"id":31232,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31230\/revisions\/31232"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}