Europe Urges Citizens to Keep 70-100 Euros in Cash at Home for Emergencies
Several European countries, led by the Netherlands and Finland, along with Austria, Sweden, and Norway, advise citizens to keep between 70 to 100 euros in cash at home for emergency situations. This recommendation comes from their respective authorities and banks, especially in light of recent crises such as the COVID-19 pandemic, the war in Ukraine, and natural disasters.
The European Central Bank (ECB) has found that cash usage tends to increase during times of crisis. The ECB considers cash an essential part of national crisis preparedness. Having cash at home can cover essential needs for about 72 hours in case of an emergency.
The European Commission advises stockpiling enough food, water, and medicine to last for 72 hours. The ECB suggests Europeans keep between 70€ to 100€ at home for emergencies, to protect against potential electronic payment system failures. Finland is even developing ATMs immune to disruptions and cyberattacks to cope with increased cash demand during crises. The French government suggests preparing an '72 hour emergency kit' including water, food, and important documents.
European authorities and banks recommend keeping cash at home for emergencies, with the ECB suggesting between 70 to 100 euros. This advice is part of broader emergency preparedness guidance, including stockpiling food, water, and medicine. Having cash on hand can help ensure access to essentials during crises, even when electronic payment systems fail.
