Sweden is ditching cash. Just wait for the fallout

Sweden is ditching cash. Just wait for the fallout
Cashless trading has led to a drop in tax evasion, robberies and black-market activity. (Image: Getty)
Bloomberg
By Lionel Laurent Björn Ulvaeus, one-quarter of the Swedish pop group ABBA, became a standard-bearer for a world without cash after his son got burgled. Ditching coins and banknotes would hurt criminals and tax-dodgers while helping businesses and government budgets, he reckoned. “Sweden would be the ideal country to make cashless,” he told Bloomberg in 2014. “I think that should be the future.”Björn Ulvaeus (left) has long advocated that his native Sweden should go cashless. (Image: Getty)Nearly...

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