VIENNA—Austria on Thursday reinforced its status as one of Europe’s most cash-loving countries by saying it opposed a plan by the European Commission to cap cash payments at 10,000 euros ($11,800). Cash is occasionally a topic of political debate in Austria, where the far-right Freedom Party (FPO) has long called for the right to use cash to be inscribed in the constitution. Many restaurants and bars still do not accept card payments. In times of crisis, like the onset of the coronavirus pandemic, Austrians have also resorted to old-fashioned cash hoarding. In March last year they took out more than 4 billion euros in banknotes that they stashed at home or in bank safes, according to Austria’s central bank. “There is a clear yes from Austria to the fight against money laundering and terrorism financing, and an equally clear no to attacks on cash,” conservative Finance Minister Gernot Bluemel said …
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