Norway’s biggest bank DNB has called for the country to completely abandon hard cash, but how would Lithuanians react to such a move here?
© DELFI / Šarūnas Mažeika

Even though electronic payments are getting more popular in Lithuania, the decrease in cash in circulation is minimal in the country. Even with Lithuania changing currency to the euro recently, there was little decrease in the use of cash for transactions and purchases by the general public.

DNB claim that such a drastic decision would be a great tool in the fight against the underground economy. DNB claims that the Norwegian central bank is unable to track about 60% movement of bank notes in the country.

In Lithuania there is demand for using electronic payment methods at least among a certain proportion of the population.

“A third of those [Lithuanians we] surveyed would be happy to pay by phone. Currently the payments are limited, but in the future the service will be expanded – it is a market which is developed in the whole world as well,” said Tomas Karpavičius, a representative of the Bank of Lithuania, Lithuania’s central bank.

“The population is only slowly changing habits, the shift is not as fast as we would like,” said Karpavičius.

The Norwegian Minister for Finance has met the proposal to abandon cash there with skepticism, but in Lithuania such discussion is generally unthinkable as population‘s love affair with cash seems unbreakable.

During the period of transition to the euro, the amounts of hard cash in the circulation in Ireland substantially diminished, but after the tranistion Lithuanians returned to old habits.

US court dismisses ex-Lithuanian judge's extradition appeal

A US court has dismissed an extradition appeal by Neringa Venckiene , a former Lithuanian judge and...

Survey: President tops popularity rating

Lithuanian President Gitanas Nauseda tops the popularity rating in the country, according to the...

Lithuania joins group of countries condemning Beijing's treatment of Uighurs

Lithuania has joined a group of countries condemning China 's treatment of the Uighur ethnic...

Vilnius mayor: government not pulling out of stadium project

Vilnius Mayor Remigijus Simasius says Lithuanian Prime Minister Saulius Skvernelis has assured him...

New chief of defense: I am a realist and don’t dream about things we cannot have

Lithuania's incoming chief of defense , Major General Valdemaras Rupsys , says he will seek to...