Moonlighting, undeclared odd jobs, transactions between individuals, money passes from hand to hand without it necessarily being known. A shortfall for states and a way for illicit economies to operate.
Could the digital euro, whose transactions might be centralized with the ECB, put an end to this type of market? To analyse.
Towards the end of Sunday gardeners?
It is not uncommon for some to have to deal with the services of individuals to carry out small jobs. Gardeners, painters, mechanics, professions whose odd jobs can be carried out without necessarily being declared. In Belgium, there is no limit for a cash payment between individuals for goods and services.
Nevertheless, if we come to a fully digital euro (and therefore the end of paper money, which is currently not in Europe’s plans), these odd jobs might well be affected.
For Étienne de Callataÿ, economist and Co-founder ofOrcadia Asset Management : “The digital euro will not eradicate odd jobs, but it will make them more difficult“. An opinion shared by his colleague Bruno Colmant, economist and professor at ULB and UCLouvain: “As long as the digital Euro is not generalized, this economy should continue to exist“, he reveals.