Anxiety over war, wildfires and cyber-attacks leads to growth in cash stocks in EU
Summary
The amount of cash in use in the European Union is growing even though many people use smartphones to pay. This increase is linked to worries about wars, wildfires, cyber-attacks, and the need to prepare for emergencies by having cash on hand.Key Facts
- The total number of banknotes in the EU has risen from about €1 billion in 2016 to €1.6 billion in June 2026.
- Over 31 million banknotes are now in circulation, up from 24 million before the pandemic in 2019.
- The €50 note is the most common, followed by the €100 note.
- Countries like Austria, Finland, Germany, Sweden, and the Netherlands advise households to keep €70 to €100 in cash for 72-hour emergencies.
- Emergencies cited include wildfires, floods, storms, cyber-attacks, and other hostile events.
- Experts say cash is important for crisis preparedness because it works when digital payment systems fail.
- Cash use is important for privacy, financial inclusion (helping vulnerable groups), and teaching children money management.
- The European Central Bank supports keeping cash machines widely available across EU towns and cities.
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