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― Mark Twain
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EU Urges People to Carry Cash
Households should keep cash at home to cover essential needs during crises, according to a European Central Bank (ECB) study analyzing recent disruptive events like the COVID-19 pandemic and the war in Ukraine. The report highlights increased demand for cash during such times, citing its psychological comfort and practical reliability when digital payments fail. Authorities in countries like Sweden, Austria, and the Netherlands recommend keeping enough cash for 3 to 7 days of essentials. The study emphasizes that cash serves as a vital backup in emergencies, calling it a necessary “spare tire” for payment systems.
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