In Sweden, which printed Europe’s first bank notes in 1661, bills and coins represented just 2.7 percent of the economy in 2012, compared with an average 9.8 percent in the euro area and 7.2 percent in the U.S., according to the Bank for International Settlements. Many Swedes think 2.7 percent is too high. “We could and should be the first cashless society in the world,” Björn Ulvaeus, a former member of Abba, says on the website of a Stockholm museum dedicated to the Swedish band. Situation Stockholm, which costs 50 kronor ($8) and whose cover stories feature Swedish celebrities such as pop star Robyn and actress Noomi Rapace, already can be bought via a text-message service.`
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