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Wednesday, February 3, 2016

Germany considers $5,450 limit on cash transactions

BERLIN (AP) -- The German government is considering introducing a limit of 5,000 euros ($5,450) on cash transactions in an effort to combat money laundering and financing of terrorism.

Deputy finance minister Michael Meister said Wednesday that Germany would like to see a European solution, but could introduce a national limit if none is achieved, news agency dpa reported. He said "we can imagine a level of 5,000 euros."(READ MORE)