A large-scale power outage occurred in Europe, causing significant disruption, during which the Central Bank of the Netherlands recommended keeping cash on hand.
According to Euro News on the 23rd, the Central Bank of the Netherlands advised citizens to always keep small amounts of cash ready on the 21st (local time) in preparation for potential network outages.
The amount recommended by the Central Bank is 70 euros (about 109,000 won) per adult and 30 euros (about 47,000 won) per child. This amount is explained as sufficient to cover expenses related to food, drinking water, medicines, transportation, and other essentials for 72 hours, or three days, in an emergency.
The Central Bank noted, “In situations like power outages, banking system failures, or Wi-Fi disruptions, payments may not be possible as usual, but cash is almost always an option.” It also added that the recommendation was a result of the “geopolitical tensions rising and the potential for cyberattacks that could disrupt payment systems.”
In addition to cash holdings, the Central Bank advised being prepared for situations where card payments may not be possible by keeping debit cards on hand and ensuring that contactless payment methods via smartphones and smartwatches are set up in advance.
In fact, a large-scale power outage occurred last month in Spain and Portugal, causing card payments to be completely halted and automatic teller machines (ATMs) to malfunction, leading to significant inconvenience for many people.
Earlier in March, the European Commission, which acts as the EU's executive body, also strongly recommended that all member countries ensure that every citizen can prepare a 'survival kit' to be self-sufficient for at least 72 hours in the event of a crisis, tailored to their respective circumstances.