Slovenia enshrines the best to money in its structure | EUROtoday

Slovenia has enshrined the best to money funds in its structure. The parliament in Ljubljana authorised the inclusion of a corresponding article within the structure of the EU nation on Monday. “Everyone has the right to use cash for banking and other forms of legal transactions in accordance with the law,” it stated. This makes Slovenia the third EU member state after Hungary and Slovakia to enshrine the best to money for any transaction in its structure.

The proposal for a constitutional modification had already been authorised in its first studying in November. Now 61 of the 90 MPs voted for the change, which means it was formally handed.

The proposal was initiated by the non-governmental group “We Are Connected”, which collected over 56,000 signatures in 2023 to enshrine the best to pay with banknotes and cash in regulation. The initiative argued primarily with information safety and securing the privateness of round two million Slovenians.

However, in accordance with an EU regulation, solely money funds as much as an quantity of 5,000 euros could also be accepted. The European Central Bank (ECB) stated it welcomed “the core objective of strengthening the availability and acceptance of cash”.

In an ECB survey final 12 months, 62 % of residents surveyed within the euro space stated they thought of the flexibility to pay in money to be “very important” or “fairly important”. Compared to the survey two years earlier, approval elevated by two %.