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Fears of war, fires and cyberattacks boost cash reserves in Europe

2026-08-22 22:00:07Biznes SHKRUAR NGA REDAKSIA VOX
Fears of war, fires and cyberattacks boost cash reserves in Europe
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Despite the spread of card and phone payments, European citizens are increasingly keeping cash at home, due to concerns about wars, fires, floods and cyberattacks.

According to data from the European Central Bank (ECB), the value of banknotes in circulation has increased from around 1 billion euros in 2016 to 1.6 billion euros in June 2026.

Philip Lane, the ECB's chief economist, said that the use of banknotes in everyday transactions may be declining, but the total number of banknotes people hold in circulation continues to grow.

This trend is partly related to fears that electronic payment systems could be disrupted in emergencies. Cyberattacks on European companies and institutions, as well as natural disasters in recent years, have prompted authorities to advise citizens to have basic cash reserves.

In 2025, EU citizens were advised to have enough supplies at home for at least 72 hours, including water, food and other basic necessities. This emergency package also included cash.

Austria, Finland, Germany, Sweden and the Netherlands have recommended that families keep around 70 to 100 euros so they can buy essential products if electronic payment systems and banking apps are down.

Experts emphasize that cash should not be considered only as a solution for crisis situations. According to them, if the use of cash completely disappears from everyday life, it may become more difficult to use it precisely when digital systems are not available.

The ECB considers cash an important element of national crisis preparedness, and has called for maintaining an accessible network of ATMs across Europe.

In addition to emergencies, experts emphasize that cash remains important for the elderly, vulnerable people, and those who may have limited access to digital banking services.


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