War and Cyber Attacks Make Europeans Keep More Cash. Cash Reserves Have Increased by 60% in 10 Years
16 Articles
16 Articles
The advance of digital payments has not slowed the increase in banknotes in circulation. Fear of cyberattacks, conflicts or natural disasters has re-focused on physical money as a resource to cope with the early hours of an emergency
The number of banknotes in circulation in the European Union is on the rise, as well as their total value. Paradoxal, taking into account new payment habits, but in line with the recommendations in a stressful security contextThe cash is not endangered. Switzerland demonstrated this on 8 March, following the vote on the initiative "liquid money is freedom", by including in the Constitution the guarantee that the cash is supplied.
The amount of cash in circulation in the eurozone has risen from 1 trillion euros to 1.6 trillion euros since 2016, reports the European Central Bank (ECB). At the same time, people are using cash less and less for daily payments. In the Netherlands, only 17 percent of checkout payments were made with cash last year.
War and Cyber Attacks Make Europeans Keep More Cash. Cash Reserves Have Increased by 60% in 10 Years
War-related fears, forest fires and cyber attacks lead to an increase in cash reserves in the EU The value of banknotes in circulation increases from 1 trillion euros in 2016 to 1.6 trillion euros in 2026, on the...
The value of banknotes in circulation in the EU is increasing from 1 trillion euros in 2016 to 1.6 trillion euros in 2026, as the world is advised to maintain a cash reserve. The post War, fires and cyberattacks: Fear of "emergency" is driving up cash use in the EU appeared first on in.gr.
Worries about war and surprising emergencies have led people to hoard cash.
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