The European Union has continued advancing its proposed Single Currency Package, first introduced by the European Commission, which aims to formally enshrine the right of consumers to pay with cash across the eurozone. The legislation responds to growing concern that some businesses, particularly in countries with high cashless adoption, have begun refusing cash payments altogether.
Under the proposed framework, merchants would generally be required to accept euro banknotes and coins, with only limited, clearly defined exceptions. The European Central Bank has consistently supported the initiative, citing financial inclusion for unbanked and elderly populations as a central justification.
The policy reflects a broader European balancing act: encouraging the convenience and efficiency of digital payments while preserving cash as a guaranteed fallback option, particularly important during power outages, cyberattacks, or banking system disruptions.