Anxiety over war, wildfires and cyber-attacks leads to growth in cash stocks in EU
The European Central Bank reports a significant increase in the circulation of physical banknotes despite the rise of digital payments. Experts attribute this trend to growing public anxiety regarding geopolitical conflicts, cyber-attacks, and natural disasters.
Why it matters
The shift toward physical cash hoarding reflects a decline in public trust in digital infrastructure and a heightened sense of global instability.
People in the EU have been encouraged to have a crisis pack including bottled water, a transistor radio, canned food and cash./Getty Images People in the EU have been encouraged to have a crisis pack including bottled water, a transistor radio, canned food and cash./Getty Images European Union Anxiety over war, wildfires and cyber-attacks leads to growth in cash stocks in EU Value of banknotes in circulation rises from €1bn in 2016 to €1.6bn in 2026 as people advised to keep stash of cash
Prefer the Guardian on Google The number of banknotes in circulation in the EU is increasing despite widespread smartphone payments, new data shows, with wildfires ripping through parts of Europe fuelling demand for an emergency stash of cash.
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