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1h ago

ECB Tells Europeans to Keep €70–€100 in Cash for 72-Hour Essentials

The recommendation follows research showing cash becomes crucial during disruptions to payment systems or public trust.

«Stockez au moins 70 à 100 euros en liquide» : La BCE recommande de garder des espèces chez soi en cas d’«instabilité majeure»
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La BCE conseille de garder des espèces chez soi en cas de crise.

Overview

  • The ECB published its “Keep calm and keep cash” study on September 24 advising households to hold a small at‑home reserve of roughly €70–€100 per person to cover about three days of essential needs.
  • Researchers cite extraordinary spikes in demand during shocks, including more than €140 billion in net euro banknote issuance in early 2020 at the start of the Covid-19 pandemic.
  • Countries near Russia’s invasion recorded about a 36% jump in euro banknote issuance, and Spain’s April 28 outage left cash as the only way to pay in affected areas, prompting rushes to withdraw.
  • The study urges central and private banks to strengthen cash‑distribution resilience, preparing infrastructure and strategic reserves to handle sudden surges in withdrawals.
  • National examples in the Netherlands, Austria and Finland already encourage small precautionary holdings, and Finland is exploring ATMs designed to keep operating during outages.