Anxiety over war, wildfires and cyber-attacks leads to growth in cash stocks in EU

According to The Guardian, the value of euro banknotes in circulation has risen from one billion euros in 2016 to one point six billion euros in 2026, as people are advised to keep a cash stash. The surge comes despite the spread of smartphone payments, with wildfires across Europe driving demand for emergency cash, and European Central Bank chief economist Philip Lane highlighted the increase at the MacGill summer school conference in Ireland.

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