•  The arrival of the digital euro, promoted by the European Central Bank (ECB), has set off alarm bells among those who defend the use of cash. In fact, according to a recent survey carried out by the Spanish Consumers' Association (Asescon), up to 70% of consumers are opposed to the introduction of this measure - brought forward from 2027 to October this year.

• Javier Rupérez, president of the Denaria platform, which brings together various associations in defence of cash, warned in an interview with LA GACETA of the risks involved in implementing a digital currency ‘without clear justification or guarantees of freedom and privacy for citizens’. He also criticised the limit imposed by the Spanish government on cash payments, set at 1,000 euros.

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What do you think of the ECB's announcement of a possible advance of the digital euro, which could come as early as October this year?

The truth is that there is a lot of confusion. Although at one point there was talk of October, the latest information points to a further postponement. Initially it was thought to be 2027, then it was brought forward and now it seems that there is no fixed date. This is all in response to internal ECB debates and public pressure. But the first big question is: what exactly is the digital euro? Because we already use the euro electronically through cards or transfers, what added value does a digital version issued by the ECB offer?

Do you think that social unrest has influenced this possible backtracking?

No doubt about it. In Spain, more than 70% of citizens are opposed to the rapid introduction of the digital euro, and this discontent is similar in many European countries. It is not surprising that the authorities are rethinking the deadlines. When there is no clear explanation of what is going to be done and for what purpose, people are usually suspicious. And rightly so.

What is your biggest concern about the possible implementation of this digital currency?

We are concerned that the principles that cash stands for - privacy, freedom, inclusion and security - are not respected. If the digital euro is to arrive, it must guarantee all these conditions. Cash remains the only completely free and anonymous form of payment. Moreover, it is protected by European legislation, which obliges states to accept it as legal tender. We don't say so, the law says so.

Why do you consider it so important to defend the use of cash?

Because it is used by a broad spectrum of the population. According to our surveys, 60% of Spaniards use it every day and 70% want it to continue to exist even if they do not use it frequently. It is also essential for vulnerable groups: the elderly, the disabled, rural women or those living in depopulated areas. For all of them, cash is more than a form of payment: it is a means of inclusion in economic life. If it disappears, they would be excluded.

What role does Denaria play in this defence of cash?

We are a platform that brings together different social, professional and business associations. Our task is to ensure that cash remains accessible to all. That is why we also work on alternatives to facilitate its availability, such as agreements with the post office or pharmacies, especially in areas where banks and ATMs have disappeared.

In 2021, Pedro Sánchez's government set the maximum limit for cash payments at 1,000 euros. What do you think of this measure?

We think it is insufficient and discriminatory. In most eurozone countries this limit does not exist, or it is much higher: 5,000 or 10,000 euros. Spain, with this ceiling of 1,000 euros, is among the most restrictive countries. We are working to raise this limit to 10,000 euros. In addition, the housing law prevents the payment of rents in cash, which is absurd, especially when many rents exceed that threshold.

Do you think that behind this measure there is an intention on the part of the Executive to control citizens' transactions?

It is possible. It seems that the use of cash is wrongly associated with fraud. But the data show that today the main frauds take place in the digital environment, not with banknotes and coins. Linking cash to crime is an old-fashioned, gangster movie narrative. This stereotype must be broken. Banning or limiting the use of cash does not solve the problem of fraud.

We have seen Donald Trump reject in the United States the implementation of a digital dollar proposed by the Federal Reserve and, at the national level, VOX has been the party that has spoken out most against Lagarde's announcement. What do you think?

We have seen opposing positions. While the governor of the Bank of Spain, José Luis Escrivá, has defended its implementation as soon as possible, others, such as Donald Trump in the USA, have shown a total rejection of digital currency. In Spain, parties such as VOX have come out in defence of cash. We are not against digital payments, but we are calling for cash to be treated on an equal footing. It is a question of balance, of freedom of choice.

Cash is legal, safe and necessary for millions of people. Its disappearance would hit the most vulnerable hardest. The digital euro, if it comes, should be an option, not a forced substitute. Denaria will continue to work to ensure that cash remains a basic pillar of freedom and social cohesion.

Source: La Gaceta