21 June marks the date chosen to launch the
second edition of a campaign against cash in Italy, where cash
payments remain engrained in the culture.
The aim of the No Cash Day campaign is to inform the
public of all the alternatives to cash, a
payment method that organisers say is expensive, counterfeit able
and dangerous.
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The No Cash Day emphasises that in Europe, “cash
management costs EUR50bn per year, an enormous expense to
cover costs for personnel, counting expenses, losses, thefts,
equipment, transport, security, storing, surveillance and
insurance.”
According to the Italian Banking Association (ABI), EUR10bn per
year is the costs for banks and companies to process cash
payments.
“There is a strong correlation between cash
and tax evasion. In 2011, PwC has detected
around EUR119bn of evaded taxes in
Europe,” said the organisers of the campaign.
Italy loses around EUR100bn per year from tax avoidance, about
22 % of GDP according to statistics from the government.
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By GlobalDataSome Italians have shown their scepticism when
EPI asked if they know about the No Cash Day: “These days
many Italians are getting used to having no cash. So this campaign
won’t change much,” jokes Sara, an Italian citizen living in
London.
