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espite the arrant absurdity of blaming cash and financial privacy for these crimes, French Finance Minister Michel Sapin brazenly stated that it was necessary to "fight against the use of cash and anonymity in the French economy."
He then announced extreme and despotic measures to further restrict the use of cash by French residents and to spy on and pry into their financial affairs.
These measures, which will be implemented in September 2015, include:
Prohibiting French residents from making cash payments of more than 1,000 euros, down from the current limit of 3,000 euros.
Given the parlous state of the stagnating French economy the limit for foreign tourists on currency payments will remain higher, at 10,000 euros down from the current limit of 15,000 euros.
The threshold below which a French resident is free to convert euros into other currencies without having to show an identity card will be slashed from the current level of 8,000 euros to 1,000 euros.
In addition any cash deposit or withdrawal of more than 10,000 euros during a single month will be reported to the French anti-fraud and money laundering agency Tracfin.
French authorities will also have to be notified of any freight transfers within the EU exceeding 10,000 euros, including checks, pre-paid cards, or gold.