Vladimir Poutine.image: Sergei Guneyev/imago
First Norway, then Sweden and now the Netherlands: Due to “increasing geopolitical tensions”, citizens of these countries are recommended to keep cash on hand.
Ellen Ivits / t-online
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Faced with the continuing war between Russia and Ukraine, fear of an escalation is growing in Europe. European states are now inviting their fellow citizens to put cash aside for emergency situations. The Association of Dutch Banks (NVB) is calling on people in the Netherlands to do so.
“Increasing geopolitical tensions in the world are behind this recommendation”
A spokesperson for the NVB
Banks “very well prepared”, but…
A first for the Batavians. As reported by NL Timesthis recommendation is supported by other organizations with whom the NVB plans to consult again after the end of year holidays. A spokesperson for the NVB also emphasizes that banks are “very well prepared” for the risks of cyber attacks and that customers’ savings are always safe. However, it is advisable to keep cash on hand in case of problems with the payment infrastructure.
Dutch Defense Minister Ruben Brekelmans also recommended keeping a cash reserve. He said on television that “the Netherlands must prepare for all possible war scenarios” because of the threat posed by Russia.
“If Russia wants to attack us, it will attack our electricity grid or our water supply”
Defense Minister Ruben Brekelmans
There is no need to panic, but everyone must consider it possible that the Internet, electricity and water may be cut off. In addition, the Dutch should prepare for the payment system not to work for a while.
The Netherlands is not the first to want its citizens to have cash. In Sweden, brochures were distributed from November to provide information on the behavior to adopt “in the event of crisis or war”. It was also recommended to have on hand “enough cash for at least a week, preferably in different denominations”. It is also advisable to carry enough cash in case of evacuation.
The Norwegian government already warned in the spring:
“Relying exclusively on digital payment solutions increases societal vulnerability and can disrupt important social functions”
The Norwegian government
Prolonged power outages, system outages or digital attacks could cause digital payment systems to fail.
Recommendation in Germany too
There are currently no specific recommendations for Germany. The “Ratgeber für Notfallvorsorge und richtiges Handeln in Notsituationen” (guide for emergency prevention and good behavior in emergency situations) of the Federal Office for Civil Protection and Disaster Assistance (BBK ) simply advises having a sufficient cash reserve at home, because in the event of a power outage, ATMs will no longer work either.
Translated and adapted by Noëline Flippe
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